Despite the major bear markets and fluctuations in price that Ripple coin (XRP) is facing, the cryptocurrency has managed to put up well, showing a strong resilience. A speculation about a Blackrock XRP ETF approval after Ethereum came up online last year, leaving most investors wondering what will become of XRP’s price, however, this news was later debunked as fake news.
However, this year, the CEO of Ripple foresees an expansion of cryptocurrency-related ETFs to cryptos like Ripple, following the establishment of Bitcoin ETFs. Notwithstanding, Ripple coin still shows a promising price outlook just like Ethereum. On the other hand, Pullix is positioned for a higher rally as over 11,000 users joined its presale in a month.
Ripple’s CEO, Brad Garlinghouse Foresees ETFs Approval for Other Cryptocurrencies
Ripple (XRP) CEO is optimistic about the approval of various Bitcoin exchange-traded funds (ETFs) in the United States, expecting them to pave the way for similar cryptocurrency investment products in 2024.
While he didn”t explicitly predict approval for an ETF for Ripple, Garlinghouse anticipates that an Ether ETF will likely receive the green light soon.
In another talk with Thinking Crypto, James Seyffart doubts the chances of a spot XRP ETF in the U.S. by 2024, attributing it to the unresolved Ripple and SEC lawsuit and the absence of a comparable regulatory framework for Ripple.
He suggests that only after the Ripple and SEC case concludes and U.S. crypto regulations improve might a spot XRP ETF be considered, possibly in 2025, resolidifying Ripple as one of the top crypto coins.
JP Morgan’s Prospect of an Ethereum (ETH) ETF Approval in the U.S.
Market optimism surrounds the potential approval of a spot Ethereum (ETH) ETF by May 23, the SEC’s deadline for the Ark 21Shares application. JPMorgan gives a 50% chance for approval, influenced by Ethereum being seen as the next ETF candidate after Bitcoin.
Some believe the SEC’s omission of Ethereum in recent lawsuits hints at potential commodity classification, a key for ETF approval. However, JPMorgan analysts led by Nikolaos Panigirtzoglou express skepticism, seeing less than a 50% chance for approval by May.
The recent surge in Ethereum price this year is tied to hopes for an ETF approval, providing U.S. investors exposure to Ethereum without direct ownership. Ethereum price is currently on a weekly range of $2,450 to $2,600
The shift in how Ethereum operates and the ongoing legal issues with the SEC regarding certain exchange services are making it tough to approve an Ethereum ETF until these matters are resolved.
Pullix’s (PLX) DeFi Potential, Innovative Features, and Projected Market Growth
With over 11,000 participants, the Pullix (PLX) presale has garnered substantial interest in its DeFi market potential. Pullix stands out by merging features from centralized (CEX) and decentralized (DEX) exchanges, aiming to create a platform that overcomes common issues in online trading, such as asset limitations.
This innovative approach positions Pullix uniquely, allowing trading across various asset classes, including forex, gold, and cryptocurrencies, leveraging the significant $6.6 trillion daily volume of the forex market.
The presale has seen 70+ million PLX tokens sold, with the current value at $0.08—a 100% increase from its initial price. Experts anticipate a potential 280% increase before the presale concludes, ranking PLX among top crypto coins this year.
Within the Pullix ecosystem, exciting features include Copy Trading, enabling users to replicate successful trades, and a Lending Protocol, providing a flexible money market for lending and borrowing.
The PLX native token serves a dual purpose as a trading tool and as part of a revenue-sharing model. Stakers stand to receive a portion of Pullix’s daily revenue positioning PLX as a good crypto to buy for gains. Furthermore, users can stake various currencies like DOGE and ETH for a fixed interest rate.