BlackRock’s Decision to Avoid XRP ETFs Explained

By Cino Gaperi Jan 22, 202443Views

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BlackRock’s Reluctance to Engage with XRP

You should know that BlackRock, a company which supports Bitcoin, is not willing to get involved with XRP due to the market volatility and the ongoing SEC lawsuit.

Ripple’s Optimistic Future

Ripple’s CEO has hinted at significant moves for 2024 in a recent CNBC interview, following a legal victory that ruled XRP as non-security, representing a loss for the SEC attempting to prove it as a security.

BlackRock’s Cautious Approach

BlackRock’s decision to not focus on launching a spot XRP ETF aligns with the overall market sentiment for XRP. A breach below a certain level could lead to a potential sell-off, possibly dropping XRP to $0.34.

Hot Take

In the midst of XRP’s uncertain future, it is evident that major industry players like BlackRock are proceeding cautiously to evaluate risks and rewards before making major decisions.

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Cino Gaperi

Cino Gaperi stands out as a prominent crypto analyst, accomplished researcher, and adept editor, making significant contributions to the field of cryptocurrency. With a strong background in crypto analysis and research, Cino's insights delve deep into the intricate aspects of digital assets, appealing to a diverse audience. His keen analytical skills are complemented by his editorial proficiency, allowing him to distill complex crypto information into easily digestible content. Cino's contributions serve as a valuable compass for both seasoned enthusiasts and newcomers, guiding them through the dynamic landscape of cryptocurrencies with well-researched perspectives. With a commitment to precision, he empowers informed decision-making within the ever-evolving crypto sphere.