This week, the U.S. Securities and Exchange Commission (SEC) granted Ripple the ability to defer three XRP-based Exchange-Traded Funds (ETFs) until October, marking an end to legal entanglements and a shift in focus towards enhancing the XRPL ecosystem.
Ripple's Current Situation
Ripple has recently lifted restrictions on its institutional securities sales, as permitted by the SEC. With the appeal process concluded, the company can now engage in sales without regulatory issues. In anticipation of ETF approvals this October, Ripple is concentrating on enhancing its payment infrastructure, including a $200 million acquisition of the stablecoin platform Rail.
XRP Prices and Forecast
XRP Coin might find strong support if its price dips to the $2.75-$2.67 range. Should Bitcoin experience a deeper correction, XRP could potentially drop to between $2.36 and $2. However, more optimistic scenarios predict resistance levels at $3.1, $3.33, and up to $3.55-$3.6.
Future of Ripple and the XRP Ecosystem
Ripple is taking proactive steps to unlock new opportunities in light of recent legal victories. The anticipated stablecoin RLUSD is showing strong growth, with total supply reaching $666 million. Transaction volumes indicate a healthy market environment.
With recent legal victories and strategic acquisitions, Ripple looks to the future with optimism, emphasizing the importance of its efforts to enhance the XRP ecosystem.
