So far, 2024 has not been a banner year for XRP. The digital currency has been overtaken in market cap by several other projects and has performed only moderately overall.
Recently, however, XRP has seen another rally, making the outlook seem brighter. According to crypto influencer Zach Rector, there are multiple reasons to expect a significant increase in XRP’s value.
Ripple vs SEC Lawsuit Settlement Near
The recent optimism surrounding XRP is partly due to the looming conclusion of Ripple’s four-year-old lawsuit against the U.S. Securities and Exchange Commission (SEC), according to Zach Rector. Ripple CEO Brad Garlinghouse has indicated that a decision in the case is expected “very soon,” which could mean a huge boost for XRP’s value.
In July 2023, we already saw XRP’s value double in 24 hours after Judge Analisa Torres ruled that the cryptocurrency is not a security. Furthermore, after the lawsuit is concluded, Ripple will be able to offer its XRP-based payment solution to US customers, which could significantly increase the cryptocurrency’s adoption.
RLUSD stablecoin launch
Another positive aspect is the upcoming launch of the RLUSD stablecoin, which will be available on both the XRP Ledger and Ethereum (ETH) blockchains.
This addition will bring new liquidity to the XRPL ecosystem, which is beneficial for the XRP price as it boosts XRP trading and usage, increases market demand, and promotes network stability.
An XRP ETF?
Finally, there are rumors circulating about the potential arrival of an XRP Spot Exchange Traded Fund (ETF). After the success of Bitcoin (BTC) ETFs and the recent launch of Ethereum ETFs, it is expected that an XRP ETF is only a matter of time. Should this happen, we can expect a significant amount of capital to flow into the market, which could be positive for the value of XRP.
Trade €10,000 for free and get €10 bonus
Want to enter the crypto world and perhaps buy Bitcoin or another crypto? Now is your chance! Thanks to a special deal between Newsbit and Bitvavo, our readers get an exclusive offer.
Create an account at Bitvavo using the button below and receive a welcome gift of 10 euros completely free. And that’s not all – you will also pay no trading fees on your first 10,000 euros in transactions for 7 days after registering your account.* Sign up now!
*Please note that terms and conditions apply to this promotion.
Source: https://newsbit.nl/waarom-de-xrp-koers-binnenkort-enorm-kan-gaan-stijgen/
