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Following the conclusion of the SEC and Ripple Labs lawsuit , the latter’s native XRP cryptocurrency is surging in price. The coin is up over 7% in the past week and saw a 12% surge on Friday. In addition, with numerous pending applications from investment firms, the odds of approval for an XRP ETF are rising, according to Bloomberg experts. Indeed, the highly anticipated launches could very well come before 2025 is over. The odds of Spot XRP ETF approval recently fell by 65%. The drop was reportedly due to SEC Commissioner Caroline Crenshaw’s consistent opposition to crypto ETFs, which worried several investing experts. However, Bloomberg senior ETF analyst Eric Balchunas says the reaction was overblown, reaffirming his projections. Since then, sentiment has reversed sharply, with the approval likelihood now surging to around 88%. “Interesting, trades reporting how Polymarket odds of XRP ETF approval went down to 62% after the votes were disclosed, showing Crenshaw voting no, but...

Ripple Labs, the issuer and biggest holder of XRP, has been maintaining a system of gradual releases for additional tokens into circulation for years.  This approach, further developed with an escrow system in 2017, has ensured the digital asset has remained slightly inflationary through its existence. Specifically, on the first day of each month, the company unlocks 1 billion XRP, making 20-30% (200-300 million tokens) available for trading to raise additional funds for its operations while re-locking the rest. Picks for you COTI’s Africa Tokenization Council to promote AI and blockchain in Africa and Middle East 1 hour ago Sell alert: Solana (SOL) is facing a massive crash to $60, says analyst 2 hours ago...

Ripple (XRP) is another leading cryptocurrency that has had a significant 2024. Embroiled in a heated legal spat with the US SEC, the token has held its ground, to later emerge as a complete winner. At press time, XRP is up 14%, sitting at $0.79, gaining traction as speculations of US SEC head Gary Gensler resigning from his position went viral on social circuits. That being said, can XRP claim the ambitious $1 price spot sooner than predicted timelines? Also Read: Apple: APPL Keeps Setting Records as Samsung Loses Market Share XRP Soars On Speculations Concerning Gensler’s Resignation Source – CryptoRank Ripple (XRP) is currently sitting at a high price spot of $0.79. The token has recorded a new surge of 14%, as the speculatory spree hints at Gensler’s resignation, adding more fuel to the XRP’s price spike. The development, coupled with the positive market momentum, has helped XRP secure a new price spot of $0.79. https://twitter.com/WatcherGuru/status/1857148361251385484 ...