Something Big About to Happen for XRP: Crypto OG

thecryptobasic.com 10 July 2024 10:37, UTC

Widely followed crypto pundit “Crypto Bitlord” boldly asserts that XRP is on the verge of experiencing something magnificent enough to impact prices.

Crypto Bitlord, who has been in the space for over a decade, voiced this bullish sentiment in a recent post on X. Specifically, the post warned market participants that “something big is about to happen to XRP,” suggesting the need to strategically position for the impact.

This bold claim comes amid XRP’s discouraging price performance since this bull season. For instance, after Bitcoin set the stage, prominent altcoins like Ethereum and Solana came close to surpassing their previous all-time high in March. In contrast, XRP only rallied to $0.74, below its yearly high, and lost steam the following day.

Now, XRP trades at $0.4391, nursing a 9% loss in value since the past week. However, prominent market watchers like Crypto Bitlord believe a turnaround is imminent. In response to his tweet, community members are speculating about the nature of this anticipated significant event.

I’m warning you:

Something big is about to happen $XRP

— Crypto Bitlord (@crypto_bitlord7) July 9, 2024

Edo Farina, Head of Social Adoption at XRP Healthcare, took a skeptical stance, arguing that everything significant about XRP has already happened.

He pointed out that XRP is the only cryptocurrency with regulatory clarity in the U.S. and that the World Bank has categorized it as a stablecoin suitable for cross-border payments. Additionally, he noted that the automated market maker (AMM) is now live on the XRP Ledger.

Likely Events with Potentially Massive Impact on XRP

Meanwhile, commentator Alex Cobb highlighted crucial impending developments as likely events. Topping the list is the final judgment in the SEC vs. Ripple lawsuit. Notably, the litigants have both submitted their points for what fine is appropriate for Ripple’s violation of federal securities laws, now pending the judge’s blessing.

Attorney Fred Rispoli recently suggested that Judge Analisa Torres might make the final decision on either the 31 of this month or July 13. The latter date holds poetic relevance to July 13, 2023, when the judge ruled that XRP is not a security—a landmark decision that saw XRP soar by about 100% in 24 hours, reaching $0.93.

Another point Cobb cited is a potential BlackRock XRP ETF filing, though this prospect is less likely. Close industry observers believe a Solana ETF would precede that of XRP. Indeed, asset manager VanEck has already filed for a Solana ETF, with other issuers expected to follow suit.

Lastly, Cobb suggested that a major bank adoption announcement from Ripple or any institutional players seeking to leverage XRP could be on the horizon.