Recent developments surrounding XRP have caught attention as Bitwise Asset Management expresses confidence in the coin's future by filing to launch a spot ETF. The conclusion of Ripple's long-standing legal battle with the SEC is also a key factor.
Future Prospects of XRP ETF
In a recent interview on the Thinking Crypto Podcast, Bitwise's CIO, Matt Hougan, shared why his company is optimistic about an XRP ETF despite ongoing litigation with the SEC. According to him, XRP has proven itself with a dedicated community and innovative technology, particularly the XRP Ledger, which shows technological strength and edge.
Financial Institutions' Interest in XRP
The company has filed to launch an XRP ETF, and Hougan believes this could be a major breakthrough in the crypto industry if regulatory conditions improve. He also mentioned that traditional financial institutions, such as Société Générale, have begun using XRP's technology, highlighting its recognized potential.
XRP Price Analysis
XRP is showing strong momentum, recently breaking past key price resistance levels and climbing over $1.25, with its market cap reaching $65 million. Crypto analyst Charting Guy sees potential for significant price growth, suggesting that XRP might replicate its explosive 2017 bull run.
With the conclusion of the lawsuit with the SEC, XRP and Bitwise's plans could play a significant role in the future of the cryptocurrency market. Amid the interest from major financial institutions and positive analyst forecasts, the anticipated achievements in the technological and investment sectors might substantially impact XRP's standing.
