XRP is once again in the news, and an important date is coming up — June 17. On this day, the U.S. government’s financial watchdog, the SEC, will make a decision about a new XRP Spot ETF. Many analysts believe this could help push the price of XRP higher.
Recently, several big companies like Franklin Templeton, Grayscale, and 21Shares have asked the SEC for permission to launch XRP ETFs. An ETF is a type of investment fund that makes it easier for regular people and big investors to buy and sell assets like XRP.
The SEC has three options on June 17 — it can approve the ETF, reject it, or delay the decision to a later date. Most experts think it might get delayed again, but some believe there’s a better chance of approval this time because of recent changes in the SEC’s leadership.
At the same time, large investors, often called whales, have started buying a lot of XRP. A Chinese company called Weebus plans to set up a big XRP fund worth $300 million. Another company, Hyperscale Data, is planning to buy $10 million worth of XRP to build a crypto lending platform for public companies in the U.S. This shows that big companies and investors believe in XRP’s future.
There’s also other positive news for XRP. The NASDAQ stock exchange plans to add XRP to its crypto index later this year. Rumors say that the world’s largest investment company, BlackRock, is also interested in launching an XRP ETF.
With all this happening — possible ETF approvals, whale buying, and new projects — many experts are wondering if XRP might break its old price record soon. It might happen before June 17, or later this year if these plans go through.
At the time of writing, XRP is trading at $2.24 and is down by more than 3% in the last 24 hours.
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