XRP Investment: Why Holding Onto Your Tokens Could Be Profitable Until November
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Why XRP Investors Should Consider Holding Their Tokens Until November
Renowned crypto analyst UnknowDLT has provided compelling reasons for XRP holders to maintain their investments over the coming months. He suggests that a significant wave of adoption may be on the horizon for XRP, driven by pivotal events expected to unfold within this timeframe.
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Key Reasons to Hold XRP Until November
In a recent post on social media platform X, UnknowDLT pointed to two major factors: the resolution of the Ripple SEC lawsuit and the global implementation of ISO 20022. According to him, these developments could significantly influence XRP’s market dynamics.
The Ripple SEC lawsuit concluded on August 22, as the Appeals Court sanctioned a mutual dismissal by Ripple and the SEC. Meanwhile, the full adoption of the ISO 20022 financial messaging standard is slated for November 22. This standard is crucial for global payments, and numerous banks and financial entities have already declared their intentions to integrate it. As Ripple’s payment solutions align with ISO 20022 standards, XRP stands to benefit substantially from this global shift.
Given XRP’s role as a bridge currency in Ripple’s ecosystem, its adoption could see a boost as more financial institutions transition to ISO 20022 compliance. UnknowDLT’s insights align with earlier advice from the community, urging XRP investors to retain their holdings for three months following the lawsuit’s conclusion.
The community anticipates significant developments during this period, potentially driving XRP’s value higher. The previous legal hurdles imposed by the Ripple SEC lawsuit are believed to have restricted XRP’s price progression and limited potential partnerships that could have otherwise enhanced its market reach.
Potential XRP ETF Approval: A Game Changer?
Another critical development anticipated before November is the potential approval of XRP Exchange-Traded Funds (ETFs) by the SEC. Although the Commission recently postponed its decision to October, a final verdict is expected soon on whether to approve or deny the proposed rule change to list and trade these funds.
Bloomberg analysts Eric Balchunas and James Seyffart express optimism, estimating a 95% likelihood of SEC approval for these XRP ETFs. Market authority Nate Geraci also shares this optimism, especially as the Ripple case neared its conclusion.
Moreover, the recent amendments to the S-1 forms by XRP ETF issuers are viewed positively by analysts like Seyffart, who interprets this as a sign of constructive feedback from the SEC.
At the time of writing, XRP is valued at approximately $3, reflecting a slight decline over the past 24 hours, based on CoinMarketCap data.
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