talk about XRP Exchange Traded Fund (ETF) has made a comeback. This time, a cryptocurrency expert provided insight into what cryptocurrencies are. XRP If that happens, the community can expect it. His focus was on how such an event could send shock waves through the cryptocurrency industry.
Analysis of Why the XRP ETF is Huge
in post Cryptocurrency researcher ABS of 3T Warrior Academy outlined four reasons why an “inevitable” XRP ETF is important, which he shared on his X (formerly Twitter) platform. The first reason he gave was that this development could attract more institutional investors. He said that the XRP ETF will make it easier to invest in XRP pools.
XRP There is already a huge influx into the ecosystem. But with the help of the XRP ETF, more is possible. The ABS noted that this fund can provide liquidity to XRP. His prediction is based on the fact that ETFs tend to have increased trading volume. With this in mind, he believes that XRP can inject “lifeblood” into the XRP market.
ABS also predicts “mainstream madness” when the XRP ETF launches. He believes the mainstream media will launch a marketing campaign the likes of which has never been seen before. This is because the fund will go beyond simple cryptocurrency operations as many outsiders will also seek to participate. this opportunity.
Ripple is known to have the following characteristics: Asia Pacific Headquarters in Singapore We already have a significant presence overseas. ABS argues that this could help amplify global interest in XRP. Considering that XRP is already very popular in the region, this is undoubtedly a possibility. Ripple’s payment service.
Bulls take control as price recovers | Source: XRPUSD on Tradingview.com
What needs to happen before the XRP ETF launches?
The XRP ETF topic has previously been discussed by Bloomberg analyst James Seyyfart. shared his thoughts. He noted that XRP would need to be listed on the Chicago Mercantile Exchange (CME) before the SEC would approve a Spot XRP ETF. His opinion was based on the fact that this was a condition of deterrence. fraud and manipulation.
For now, all eyes will be on the pending Spot Bitcoin and Ethereum ETF applications. Approval of these funds could lead to an XRP ETF. This is because potential filers will be confident that the SEC will approve such a fund. however, SEC’s long legal battle In the case of Ripple over XRP, the committee may still hesitate to make such a decision.
Featured image from TronWeekly, chart from Tradingview.com