For a moment we had to double check, this week XRP is coming after Tether’s third largest cryptocurrency spot. Coinbase today shows that XRP’s market cap has overtaken that of Tether. XRP’s market cap is now almost $155 billion, at time of publishing, whereas Tether’s market cap is $150.3 billion.
Could this rise in market cap be down to whale activity? Speculation has been rife on X since early April, with Whale Alert tracking whale activity. Yesterday several moves by XRP whales were reported by the leading news site. One of these moves was of particular significance. According to @Steph_iscrypto 29,532,534 XRP was transferred to Coinbase yesterday, a total of $73.4 million.
The good news for XRP holders doesn’t stop there. Senator Lummis today called for all tax to be eliminated from cryptocurrency trading, including XRP.
All of this is leading online commentators to suggest a price of up to $10 for XRP. A far cry from the $2.58 it is trading at today.
The SEC Settles with Ripple
Last week, May 8, the SEC posted a litigation release on its site. In it the regulator laid out a framework for resolving the Commission’s civil enforcement action against Bradley Garlinghouse and Christian A. Larsen.
The settlement dissolves the injunction against Ripple and orders the escrow account holding the $125 million civil penalty to be released. $50 million is to be paid to the SEC in full satisfaction, the other $75 million reverts to Ripple.
The SEC adds how its decision, and the resolution reached, will facilitate the Commission’s ongoing efforts to reform and renew its regulatory approach to the crypto industry.
It certainly helped the price of XRP which leaped from $2.17 to $2.39 within 24 hours of the settlement being announced.
Is XRP Going to Pump?
Today the online community is very bullish on XRP. $3 as a target price is a popular online prediction, others like @skipper_xrp are suggesting that “XRP could potentially reach $250.”
Elsewhere @thecryptobasic has posted that “when banks start using XRP, we’ll see insane prices like $500 to $1,000 per coin.”
The above-mentioned @steph_iscrypto posted an XRP bull flag with a $1,452.81 price target. Many of the predictions are suggesting returns like we saw when Bitcoin first started to surge in 2017.
In other news rumours are circulating about BlackRock and XRP. Both about an imminent XRP ETF listing by the asset manager, as well as other rumours that several leading figures at BlackRock are bullish on XRP.
The news for XRP HODLers appears to be very good. Will the token soar to $10 or stall just before $3? Join the debate by using the hashtag #XRPArmy on X, and find out more about what the future might hold for XRP
Author: Andy Samu
#XRP #Ripple #MarketCap #Prediction #SEC #Whales #XRPArmy
The editorial team at #DisruptionBanking has taken all precautions to ensure that no persons or organizations have been adversely affected or offered any sort of financial advice in this article. This article is most definitely not financial advice
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