Dive deep into the world of cryptocurrency and explore the future of XRP with insider insights from Nate Geraci, president of The ETF Store, host of ETF Prime, and the co-founder of The ETF Institute. As an authority in the realm of exchange-traded funds (ETFs), Geraci sheds light on the favorable prospects of a future spot XRP ETF in the US market.
# Geraci’s Forecast for XRP ETF in the United States
Nate Geraci, with his ample experience and in-depth understanding of ETFs, has renewed his confidence in a future spot XRP ETF in the United States. His observations came through social media, where he expressed his outlook on the imminent conclusion of the Ripple lawsuit and the near inevitability of a spot XRP ETF approval. Furthermore, Geraci predicts the participation of significant entities, such as BlackRock and Fidelity, due to XRP’s current position as the 3rd largest non-stablecoin crypto asset by market cap.
Notably, Geraci had already projected a spot ETF filing by BlackRock in mid-March. He affirmed that it’s increasingly likely that prominent asset management firms would venture into top altcoins, moving beyond Bitcoin and Ethereum. He emphasized BlackRock’s current leading position – followed by Fidelity – in assets under management for both spot Bitcoin and spot Ethereum ETF. He confidently stated, “I simply don’t see them allowing competitors to come in & launch ETFs on 2 of the top 5 non-stablecoin crypto assets without any sort of fight.”
XRP Lawsuit’s Conclusion
Geraci’s renewed hope is strongly tied to the recent developments in the Ripple lawsuit. Ripple’s Chief Legal Officer (CLO) Stuart Alderoty announced last week that Ripple has agreed to drop its cross-appeal, resulting in the SEC to retain $50M out of the $125M fine. The remainder will be returned to Ripple, and the standard injunction previously imposed by the SEC is also expected to be lifted.
However, this case won’t conclude until the SEC’s formal vote and subsequent filings have been processed. Looking at standard timelines, it could take up to 60 days for a complete resolution of the lawsuit. The conclusion of this lawsuit would remove a significant barrier to large institutional products tied to XRP, making Geraci’s spot XRP ETF prediction more plausible. As of the current market, XRP is trading at $2.4495.
Is XRP a good investment?
Investing in XRP can be profitable due to its growing market position and the potential for the approval of a spot XRP ETF. However, as with any investment, it is crucial to meticulously analyze market trends and developments before making a decision.
What impact does the conclusion of the Ripple lawsuit have on XRP?
The conclusion of the Ripple lawsuit means the removal of significant barriers for major institutional products tied to XRP. It could potentially lead to the approval of a spot XRP ETF, thereby raising the value and investment appeal of XRP.
What is a spot XRP ETF?
A spot XRP ETF is an Exchange-Traded Fund that tracks the price of XRP. If approved, it could provide a significant boost to the market appeal and investment potential of the cryptocurrency.
The content provided here offers a robust examination of XRP, its potential for investment, and its current market position. The FAQs below add further depth to the reader’s understanding and aid in making informed decisions. This guide is rooted in expertise and research, providing valuable and reliable information to the reader.
