XRP is making headlines again, with a significant event scheduled for June 17. On this day, the SEC will decide on a new XRP Spot ETF, a move that could potentially drive XRP’s price upwards.
Several major firms, including Franklin Templeton, Grayscale, and 21Shares, have sought SEC approval to introduce XRP ETFs. An ETF simplifies asset trading for both individual and institutional investors.
The SEC’s decision on June 17 could involve approving, rejecting, or delaying the ETF. While some experts anticipate a postponement, recent changes within the SEC leadership may increase the likelihood of approval.
Noteworthy is the recent surge in XRP purchases by prominent investors, commonly referred to as whales. Weebus, a Chinese firm, is planning a $300 million XRP fund, while Hyperscale Data intends to invest $10 million in XRP for a crypto lending platform.
In additional positive developments, NASDAQ intends to incorporate XRP into its crypto index later this year. Speculation suggests that BlackRock, the world’s largest investment company, is considering launching an XRP ETF.
Given these developments – potential ETF endorsements, significant investments by whales, and new initiatives – experts are speculating about XRP surpassing its previous price peak soon, either before June 17 or later in the year.
Currently, XRP is valued at $2.24, marking a decrease of over 3% in the past 24 hours.
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