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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