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- An analyst expects six main bullish factors, including the launch of the XRP Trust by Grayscale, Partnerships of Ripple, the launch of the first meme coin on XRPL, etc. to fuel XRP’s rally.
- The analyst also highlighted the recent conclusion of the SEC vs Ripple court case as a bullish catalyst.
According to a crypto analyst identified as Crypto Assets Guy, XRP is poised for a bull run despite the struggling nature of the current market trend. Supporting this claim, the analyst outlined six key bullish factors that could facilitate its adoption and position the price for a significant upsurge.
🚨 Every $XRP holder must read these bullish facts:• Grayscale paving the way for an XRP ETF• RLUSD will bring massive liquidity• The SEC v Ripple case is finally over• Ripple has partnerships with the most powerful banks and corps in the world• The XRPL is the…— Crypto Assets Guy (@cryptoassetsguy) September 12, 2024
Grayscale Move for XRP ETF
According to Crypto Assets Guy, the first bullish factor for XRP is the recent launch of the XRP Trust by Grayscale. As we disclosed, the asset manager’s decision is meant to give accredited investors direct exposure to the crypto. Contrary to Exchange Traded Funds (ETFs), the trust primarily facilitates trade over the counter.
Beyond the trust, a comment by Rayhaneh Sharif-Askary, Grayscale’s head of product and research, has suggested that an XRP ETF could be created in the future.
As crypto investors diversify beyond Bitcoin and Ethereum, we believe in providing exposure to protocols that solve real-world problems. XRP can reduce frictions in international payments, enabling more efficiency in an evolving global economy.
Liquidity Provision of RLUSD
Crypto Assets Guy’s second point is based on the much anticipated RLUSD which is set to be exclusively presented to organizations. According to Ripple CTO David Schwartz, this stablecoin is designed to enable physical users to acquire it through crypto platforms and other mediators. This, as we earlier highlighted, would enhance security and regulatory compliance to align with the current stablecoin practices. According to the analyst, this could attract massive liquidity and line XRP up for a bullish run.
The Completion of the SEC vs Ripple Case
CNF recently reported that Judge Analisa Torres had imposed a $125 million penalty on Ripple to conclude the multi-year-long legal battle with the US Securities and Exchange Commission. However, both Ripple and SEC agreed on a stay order, putting the penalty payment on hold while they prepare for possibly another round of legal battle. For now, some former SEC officials believe that the Commission may likely file an appeal. Regardless, Crypto Assets Guy believes that the current status of the case positions the asset in the interest of institutional investors.
Ripple’s Groundbreaking Partnerships
His other reasons stem from the fact that Ripple has sealed multiple high-profile partnerships with banks, including Canada Imperial Bank of Commerce, Kotak Mahindra Bank, Zip Remote, Itaú Unibanco, SBI Remit, etc. On top of that, Ripple’s XRP has been tipped to be an integral part of the potentially new global financial system.
Incredible Features of XRPL
According to Crypto Assets Guy, XRP Ledger’s incredible capabilities of facilitating transactions at the fastest rate and a cheaper cost is a massive bullish catalyst for XRP. Fascinatingly, XRPL has been confirmed to have impressive efficiency and scalability with a speed as fast as 3-5 seconds and a cost as low as $0.0002 per transaction.
XMEME COIN Magic
His last bullish factor is the recently launched memecoin coin, XMEME COIN, on the XRPL. According to him, strong meme coins outperform regular assets and generally impact its ecosystem. Interestingly, XMEME is up by more than 400% since launch.
At press time, XRP was trading at $0.566, having surged by 5% in the last 24 hours.
