Altcoins News
By Julie Binoche
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A surprising theory has emerged in the world of cryptocurrency, raising discussions on whether the U.S.
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Squire’s Theory: SEC Delaying ETF Approval to Control XRP’s Price
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John Squire recently tweeted that the SEC might intentionally delay the approval of XRP spot exchange-traded funds (ETFs) to avoid pushing XRP’s price higher before a potential…
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If the SEC is planning to settle with Ripple using XRP as a form of payment, a price spike could make the cryptocurrency too expensive for the government to accept.
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The theory gained more weight when journalist Eleanor Terrett confirmed that the SEC had postponed its decision on Franklin Templeton’s XRP spot ETF until June 17.
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The key here is that XRP’s price is highly sensitive to market demand. A spot ETF, by directly purchasing XRP, could send its price soaring if approved.
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XRP as a Settlement: What Would It Mean?
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If the SEC were to accept XRP as part of a settlement, it could signal a major shift in how the U.S. government views the cryptocurrency.
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Such a settlement could pave the way for clearer regulatory guidelines surrounding XRP, potentially leading to greater institutional investment in the cryptocurrency.
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At present, XRP is trading at around $2.20, reflecting a slight dip of 0.63% and a market cap of $129.13 billion.
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However, if XRP fails to maintain support above $2, there’s a risk of further downward movement, potentially triggering large sell-offs in the market.
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The Ripple Case: A Turning Point for XRP?
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As the legal battle between Ripple and the SEC continues to unfold, the possibility of a settlement using XRP could mark a significant turning point for the cryptocurrency.
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Whether or not the SEC will actually settle with XRP remains uncertain, but Squire’s theory has raised new discussions about the potential future of Ripple and its token.
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