The withdrawal of the SEC's lawsuit against Ripple has initiated a positive shift in the crypto markets. The launch of new Solana ETFs might further enhance this trend.
SEC Lawsuit Withdrawal and Its Impact
An SEC official has dropped the lawsuit against Ripple, marking a significant victory for the crypto space. This event boosted markets positively following the comments from the Fed Chair.
Launch of Solana ETFs and Expected Changes
Florida-based Volatility Shares LLC is launching two funds tracking Solana futures. The Volatility Shares Solana ETF will track Solana futures, while the Volatility Shares 2X Solana ETF provides doubled leveraged exposure. This has led to bullish sentiments among crypto market participants.
Current Market Analysis and Predictions
The SOL price remains under bearish influence after exiting the rising channel. However, a short-term trend suggests the potential for breaking key resistance, leading to a substantial upswing. The RSI analysis indicates growing bullish strength, which could push the price to $150 and eventually $200.
With the lawsuit against Ripple being dropped and the anticipated launch of Solana ETFs, the crypto markets are poised for significant upward movement, instilling confidence among market participants.
