Recent developments around XRP are fueling discussions about its resilience and potential comeback despite skepticism from some market observers.
Deaton's XRP Forecast
Prominent crypto lawyer John Deaton, known for representing XRP holders against the SEC, made a bold prediction: XRP could overtake Ethereum (ETH) in market value by year-end. He pointed out that despite negative sentiment within the crypto industry, XRP has significant community support, evidenced during the Ripple lawsuit.
XRP ETF Launch
Adding to positive signals was the launch of the 2X Long Daily XRP ETF (ticker: XXRP) on the NYSE Arca exchange. The fund recorded $5 million in trading volume on its first day.
XRP Market Analysis
With recent market changes, the high short-term holder ratio and ETF success may signal some risks. Retail interest has also surged, indicating further potential growth for XRP.
Thus, the forecasts of XRP potentially exceeding Ethereum in market capital and the successful ETF launch highlight the increasing interest and support for the cryptocurrency amidst existing market uncertainties.
