Once a loud critic of XRP, CryptoCondom (@crypto_condom), a crypto analyst, has changed his mind and is now promoting the cryptocurrency to his 82,400 followers. This change comes from a study of Ripple’s case against the US Securities and Exchange Commission (SEC) and how it might affect the price of XRP.
When CryptoCondom talked about why he changed his mind about buying in XRP, he said it was because he thinks the recent sell-off was overreacted because of delays in the Ripple-SEC settlement.
Getting the case over with could lead to significant modifications, he thinks. “I never thought I’d want XRP, but here I am.” It was sold too short on its payment delay. He said, “The Ripple settlement will RAPIDLY [propel 4 reasons to be bullish on XRP].”
XRP Futures On Exchanges
The first thing that makes him optimistic is that the case should make it clearer what the rules are for XRP, which could let Ripple start doing business normally again in the US. Ripple’s legal problems have made it harder for more institutions to adopt it.
For example, Bank of America is waiting for the case to be over before adopting Ripple. Because of the SEC case, Ripple and MoneyGram also broke up.Second, CryptoCondom talks about how Ripple futures might be listed on significant US exchanges like Coinbase after the settlement.
This would make Ripple more liquid and appealing to significant buyers. As with Bitcoin ETFs, a controlled futures market could also make it possible for a spot XRP ETF to be based in the US.Third, he talks about the chance of an Initial Public Offering (IPO) for Ripple, but only if the rules are right.
He thinks that a Trump presidency, which would be better for the crypto business, might make this move easier. Brad Garlinghouse, CEO of Ripple, has said in the past that an IPO is not possible right now.
CryptoCondom is still cautious about XRP’s price potential, even though he now supports it. He didn’t think Ripple would reach $10, not even in the best-case situations. However, he did say that it might go up to around $1.
This cautious view is different from more optimistic predictions in the community, like the user who said the price would go up by $10 or more, which CryptoCondom disproved.
To sum up, CryptoCondom supports Ripple because the Ripple-SEC case is expected to be settled, there could be XRP futures and a spot ETF, and there is a chance that Ripple could go public. They are cautiously optimistic about the price potential of Ripple.
