Ripple embarks on a new development phase, discussing with BlackRock the possible launch of an XRP ETF. This aligns with the conclusion of their longstanding legal battle with the SEC.
Possibility of XRP ETF with BlackRock
In a recent Bloomberg interview, Ripple CEO Brad Garlinghouse briefly mentioned the possibility of working with BlackRock to create an XRP ETF. Although he did not confirm the partnership, Garlinghouse noted that 'it makes sense for the entire XRP community.' Such a development is expected to attract significant attention, especially after resolving several regulatory issues.
Ripple's Settlement of SEC Lawsuit
Ripple's prolonged legal battle with the SEC has officially come to an end, marking an important moment for the blockchain company. The company agreed to pay a penalty of $125 million, with $75 million refunded as part of the resolution, resulting in a net payment of $50 million to the SEC. This achievement brings much-needed clarity and allows Ripple to focus on developing its ecosystem and ETF potential.
XRP Price Forecast
The XRP price currently faces resistance at $2.50, but market analysts remain optimistic. Prominent trader Seyma expressed bullish expectations, projecting a short-term price range of $3-$3.24. A potential XRP listing in an ETF could accelerate substantial price growth, with long-term forecasts reaching $15 or higher.
The potential XRP partnership with BlackRock could signify a new era for Ripple. Given the growing institutional interest and the conclusion of the legal battle, XRP might open up to numerous new growth opportunities.
