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UnknowDLT, a cryptocurrency analyst, has urged XRP investors not to sell their assets in the next three months. This is based on recent developments that can positively affect the token's market performance. UnknowDLT suggests upcoming events, such as the end of the lawsuits between Ripple and the SEC and the adoption of the ISO 20022 financial messaging standard globally, that might raise the usage and demand for XRP.
Ripple’s case against the US Securities and Exchange Commission (SEC) concluded when the Appeals Court granted the joint motion to dismiss the suit on August 22. This development eliminates significant uncertainty that has influenced the altcoin’s price and market action. The analyst asserts that such a legal settlement may see Ripple enter new collaborations and broaden its presence in the finance sector.
The case of Ripple-SEC will end soon, which will increase investor confidence and resolve the issue of regulation that has limited the growth of XRP. UnknowDLT explains that the uncertainty in the law has restrained the price and adoption of the token in the past. Now that the lawsuit is closed, Ripple can focus on expanding its payment solutions.
The other influential factor that allows XRP to be optimistic is the adoption of ISO 20022, a new financial messaging standard globally. Many banks and financial institutions intend to implement this system, which will go live by November 22. The Ripple technology is also ISO 20022-compliant, and the Ripple payment network functions with the cryptocurrency as a bridge. This integration helps XRP become more advantageous in integrating into the global financial system.
Also Read: Crypto News Today: Bitcoin, Ethereum, XRP Tumble, Know Why?
The SEC could also approve XRP ETFs (exchange-traded funds), which would contribute to a favorable market perception. The SEC has postponed its decision on various XRP ETF applications until October. Industry experts, Bloomberg analysts Eric Balchunas and James Seyffart, project a 95% probability that the SEC will approve such funds.
New reforms to ETF issuer filings indicate continued communication with the SEC, which analysts consider a good sign. Nate Geraci, a market commentator, also stated that he was confident in ETF approvals following the Ripple case. XRP ETFs' approval would help drive institutional investment and allow retail investors easier access to the cryptocurrency.
