Pundit Identifies 5 Next Steps for Continued XRP Price Boom, But There’s a Catch ...Middle East

Amid the current market conditions, an XRP community member has identified five next steps that could catalyze a sustained price uptrend. Notably, despite a recent price bump that saw XRP reach $2.42 before sliding to $2.36, investor confidence remains low. Assets such as Bitcoin (BTC) and Ethereum (ETH) have breached previous resistance levels, particularly $100,000 and $2,400. However, XRP has lagged in breaking past any meaningful resistance, still trading at the lower end of the $2 mark. Within this context, a pseudonymous XRP advocate, known as Butterfly, has mentioned what she believes are five crucial catalysts necessary for a more pronounced XRP bull run. However, a closer look reveals that not all of these steps reflect current market realities. BlackRock Filing for an XRP ETF The first point Butterfly raises is the potential for BlackRock to announce a spot XRP ETF. This idea has made headlines, especially in light of BlackRock's massive success with its Bitcoin and Ethereum ETFs. These products have collectively drawn in tens of billions of dollars since early 2024. However, BlackRock has not made any move to file for an XRP ETF yet. In fact, senior executives previously indicated the firm's focus remains on expanding existing Bitcoin and Ethereum offerings. Interestingly, BlackRock recently held a meeting with the SEC to discuss ETF approval standards. This has triggered new speculation, but there's no concrete evidence that XRP was part of the agenda. Industry experts like Nate Geraci, the President of the ETF Store, believe BlackRock will likely file for XRP and Solana ETFs soon. Should this occur, it could bolster chances of ETF approval and eventually draw in massive capital to the XRP market, a catalyst for price growth. XRP Futures Rollout Butterfly's second point involves the rollout of XRP futures trading. Here, the community member's disclosure mostly holds, although timelines are slightly muddled. Notably, Coinbase has already launched XRP futures as of April 2025, and the CME Group is set to follow with its offerings later in May. This move is a positive development that could increase liquidity and potentially lead to broader institutional interest. Experts agree that futures trading can help stabilize prices and draw in more sophisticated investors, making this one of the more credible and impactful developments on the list. Interest Rate Cuts Next on Butterfly's list is the suggestion that the U.S. Treasury cutting interest rates will further support XRP's rise. This point misattributes the authority for rate decisions, which lies with the Federal Reserve rather than the Treasury. Moreover, while there's a growing belief that the Fed may lower rates later this year, possibly in July, there is no immediate action yet. Still, if cuts do materialize, they would generally benefit risk assets like cryptocurrencies by reducing the appeal of traditional interest-bearing investments. XRP ETF Approval and ISO Conversion Another claim is that multiple spot XRP ETFs are pending approval. In reality, nine firms, including major players like Grayscale, ProShares, and WisdomTree, have indeed filed applications with the SEC. However, none have yet been approved, and timelines remain uncertain. The SEC recently extended its review of one such application by Franklin Templeton, pushing any decision further into the year. Meanwhile, optimism has increased with the appointment of a more crypto-friendly SEC chair, but approval remains speculative. Analysts suggest that while the odds are in favor, the final decision could stretch into late 2025. Finally, Butterfly mentions an "ISO conversion" scheduled for November. This point is invalid. Specifically, ISO 20022 is a global messaging standard for financial institutions, and while Ripple's systems are compliant, there is no known "conversion event" involving XRP.

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Pundit Identifies 5 Next Steps for Continued XRP Price Boom, But There’s a Catch ...Middle East

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