XRP Achieves Milestone with Approval of Derivative Contracts on Coinbase
XRP has reached a significant milestone with the recent approval of derivative contracts designed for institutional investors on the San Francisco-based cryptocurrency exchange Coinbase. This development has sparked optimism among experts, including Wall Street veteran Linda Jones, who believes that the token is poised for a bullish run.
Bullish Trend Expected Due to Institutional Investors’ Adoption
Linda Jones expressed her viewpoint on XRP’s future, stating that the approval of derivative contracts will attract institutional investors and potentially trigger a bullish trend. She emphasized that Wall Street firms, particularly hedge funds, are drawn to derivative trading because it allows them to capitalize on price changes in digital assets.
Institutional Investors Could Explore Offshore Jurisdictions
Linda anticipates that leading investment firms may consider jurisdictions like the Cayman Islands or Bermuda, which are familiar with hedge funds and offshore funds. The introduction of institutional investors to the XRP market signifies increased stability and adoption for the digital asset.
Potential Ripple IPO Impact on XRP Price
Linda Jones previously commented on the potential value of Ripple if it were to undergo an initial public offering (IPO) and become a publicly traded company. She compared Ripple’s IPO to Coinbase’s valuation and presented a possible $107 billion valuation for Ripple, which could significantly impact the XRP price. Wells Fargo manager Shannon Thorp believes that as Ripple continues to dominate the cross-border payments sector, its price could rise as high as $500.
Hot Take: XRP’s Milestone Paves the Way for Institutional Adoption
The recent approval of derivative contracts on Coinbase is a significant milestone for XRP. This development opens up opportunities for institutional investors to trade the token with substantial capital, potentially leading to a bullish trend. With the growing interest from institutional investors and the possibility of a Ripple IPO, XRP’s market dynamics are set to change. This could attract more retail investors and businesses, driving up demand for the token. Overall, XRP is positioned for further growth and adoption in the cryptocurrency market.
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