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Bitcoin Analysts Identify Key Level to Determine BTC’s Next Price Trajectory

Sam Wisdom Raphael
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Bitcoin Analysts Identify Key Level to Determine BTC’s Next Price Trajectory

Market analysts pinpoint a crucial price level that could dictate the next price direction Bitcoin takes from the current position.

According to pseudonymous market watcher Micro2Macro, this level rests on the 200-day moving average. Notably, Bitcoin (BTC) is currently witnessing a consolidation phase amid the drop in selling pressure. Despite the sustained distribution from the German government, the market has found some stability.

Consequently, Bitcoin has continued to consolidate since last Saturday, seemingly indecisive. The crypto eventually saw a breakout today, spiking to retest the $60,000 territory. However, it faced immense resistance at the $59,459 high, subsequently losing the $59,000 and $58,000 thresholds.

Amid the current period of uncertainty, analysts such as Micro2Macro believe this phase is pivotal for Bitcoin’s next direction. Bitcoin could break the recent downtrend to record a major rebound or it could witness steeper drops to lower lows.

Significance of the 200-Day MA

This next direction depends on the 200-day moving average, currently sitting at $58,895. According to Micro2Macro, BTC must recover the $59,000 threshold which aligns with the 200-day SMA. He asserted that a failure to do this would lead to sustained range-bound movements. 

Interestingly, Micro2Macro suggests these movements are likely to lead to the formation of a bull flag. His analysis posits that regardless of the move from this spot, Bitcoin’s prospects remain bullish. However, a recovery of the 200-day moving average could help push prices up faster. 

Despite this, the analyst wishes to see BTC consolidate further, looking to witness the formation of the bull flag. Nonetheless, he admits that the asset’s technical indicators point to an imminent break toward the pivotal moving average. 

Analysts at crypto exchange KuCoin have also called attention to the significance of the 200-day moving average. According to KuCoin, Bitcoin’s ability to breach this level would determine its next direction in the short to mid-term. 

Crucial Bitcoin Levels to Watch

Meanwhile, to have a chance at breaking above this pivotal level, Bitcoin needs to conquer the 23.6% Fibonacci retracement. This area rests at the $57,950 price level. A push above it could grant bulls enough momentum to have another go at the 200-day MA.

Pivotal Bitcoin Levels
Pivotal Bitcoin Levels

Nonetheless, the recovery push would not be a smooth ride even above the 200-day moving average. Notably, Bitcoin would still face resistance at the 20-day SMA, currently stationed at $60,258. This price point aligns with the Fibonacci 0.382 level at $60,645. 

Bitcoin trades for $57,792 amid a 0.36% drop today, but close to recovering the Fib. 23.6% retracement. Despite the MACD signaling a predominant downtrend, the metric looks poised to record a bullish cross, a development which would trigger a momentum shift from bearish to bullish. 

T-Rex Launches 2X Bitcoin ETFs to Compete with ProShares and VolShares

Mark Brennan
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T-Rex Launches 2X Bitcoin ETFs to Compete with ProShares and VolShares

T-Rex launches 2X Bitcoin ETFs to compete in a market dominated by ProShares and VolShares, aiming for 200% of Bitcoin’s daily performance.

According to Bloomberg’s Eric Balchunas, T-Rex Group, known for its financial services, has introduced the T-Rex 2X Long Bitcoin Daily Target ETFs, aiming to disrupt the market currently dominated by ProShares and VolShares. Already, these competitors collectively manage around $2 billion in leveraged Bitcoin ETFs. 

The new ETF products seek to deliver twice the daily performance of spot Bitcoin, marking an addition to the crypto investment landscape.

Targeting 200% of Bitcoin’s Daily Performance

The T-REX 2X Long Bitcoin Daily Target ETF (BTCL), incorporated in the United States, aims for daily investment results of 200% of the daily performance of Bitcoin, before fees and expenses. Meanwhile, the second product, the T-REX 2X Inverse Bitcoin Daily Target ETF (BTCZ) will track -200% of Bitcoin’s daily performance.

They are actively managed ETFs categorized under cryptocurrency and alternative assets, with a 2x leverage. The funds do not intend to achieve their investment goal over periods longer than one trading day. Their high expense ratio of .950% and active management strategy distinguish it in the market.

Bloomberg’s Senior ETF Analyst, Eric Balchunas, noted the potential competition, emphasizing the lucrative opportunities in this category. The T-Rex ETFs’ active management and leverage could attract investors seeking significant short-term gains.

Curiosity Over Leveraged Crypto ETF Impact

The announcement of the T-Rex 2X Bitcoin Daily ETFs has generated notable reactions from the public. One commenter expressed curiosity about the impact of leveraged crypto ETFs on spot Bitcoin prices, wondering if any scientific studies address this issue.

One individual described the ETF as a “financial rollercoaster,” anticipating an intense competition in the ETF market. Another commenter highlighted the tax advantages for US investors, expressing astonishment that individuals can invest their gross salary tax-free into a leveraged Bitcoin purchase.

Global Growth of Crypto ETFs Evident

This launch comes only 2 weeks after T-Rex Group filed for a 2x leveraged MicroStrategy ETF, potentially the most volatile ETF in the US. 

If approved, it would exhibit fluctuations up to 20 times greater than the S&P 500, earning it the nickname “ghost pepper of ETFs.” This filing underscores T-Rex’s commitment to offering high-risk, high-reward financial products.

Meanwhile, Australia’s ASX has approved the DigitalX spot Bitcoin ETF, marking a significant step for institutional investment in the region. DigitalX’s ETF will trade under the ticker BTXX, with 3iQ handling international distribution. This approval highlights the growing acceptance and integration of cryptocurrency ETFs in global financial markets.

Bloomberg ETF Analyst Predicts Timeline for Final Solana ETF Deadline 

Albert Brown
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Bloomberg ETF Analyst Predicts Timeline for Final Solana ETF Deadline 

Prominent Bloomberg ETF analyst Eric Balchunas predicts mid-March 2025 for the Solana (SOL) ETF approval deadline. 

Balchunas speculates that the mind-March 2025 timeline is for Solana ETF to have a final decision. Nonetheless, he stresses that SOL ETF approval hinges on the November presidential election results influencing the SEC’s decision.

Political Factor in Solana ETF Approval

Balchunas voices confidence that the US SEC will endorse filings for Solana ETF next year. The ETF analyst indicates that the political climate is key to the SOL ETF greenlight. In particular, the outcome of the November presidential election is important. He speculates that if Joe Biden wins, an approval could face delays.

Balchunas echoes fellow Bloomberg ETF analyst James Seyffart that the recently passed pro-crypto bill could accelerate the timeline. However, the ETF pundit suggested 2026 as the earliest timeline, citing crucial listing requirements such as the CFTC-regulated futures market for SOL. 

Balchunas warns that the Biden reelection will extinguish hopes for the Solana ETFs initiative, though he admits that anything is possible if Trump wins. He recants earlier remarks, terming speculations on recent developments increasing odds for Solana ETF approval as an early call. 

VanEck and 21Shares Files for Solana ETFs

Balchunas’ optimistic perspective follows the CBOE submitting Form 19b-4s for the 21Shares Core Solana ETF and the VanEck Solana Trust. Additionally, both filings cite SOL’s resistance to price manipulation, which the exchange considers possible via surveillance sharing similar to the Bitcoin and Ether ETFs.  

The ETF Institute head, Nate Geraci, indicates that the decision clock to approve Solana ETFs will start ticking once the Securities and Exchange Commission (SEC) acknowledges the filings.

The approval process could become a rocky road with the SEC classifying SOL as a security in lawsuits against Coinbase, Kraken, and Binance. Such a factor raises doubt about the SEC approving Solana ETF’s spot under the present leadership. 

GSR Market downplays such delays, citing that Trump’s support for the crypto industry is softening the Democrats’ opposition. Moreover, the research acknowledges that bipartisan support in the pro-crypto bills could facilitate new crypto opportunities and set the stage for the Solana ETF approvals.

Analyst Says XRP Eyes $0.90 Backed by Strong Support

Mark Brennan
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Analyst Says XRP Eyes $0.90 Backed by Strong Support

XRP may surge to $0.9, driven by strong community support, numerous bank partnerships, and speculation of an upcoming ETF, says Mr Cryptosis.

XRP, one of the top 10 largest projects by market in the market, is again the subject of bullish commentary around an imminent price pump. Pseudonymous analyst Mr Cryptosis recently posted an analysis on X, highlighting XRP’s potential for a move toward $0.9. He bases this prediction on the robust community, numerous bank partnerships, and rumors of an ETF.

 

The analyst’s chart shows a strong support zone around $0.40, highlighted in orange. This area has been tested multiple times, indicating substantial buying interest. Currently, XRP trades for $0.44, near this support level. Historically, bounces from this support have led to significant upward moves.

A projected bullish trend, marked by a green line, suggests that the price might rise towards or even beyond the resistance zone. The resistance zone ranges from $0.80 to $1.00. This level has historically capped price rallies, making it a crucial area to watch. 

Institutional Support and Bank Partnerships

According to the analyst, XRP has acquired numerous partnerships with financial institutions worldwide, with the support boosting confidence in XRP. For instance, Simon McLoughlin, CEO of American exchange Uphold, revealed that major finance giants use cryptocurrencies like XRP for global fund transfers. 

During an interview on the Thinking Crypto podcast, McLoughlin emphasized Uphold’s role in Ripple’s ODL network. This cross-border payment solution uses crypto like XRP to facilitate large treasury movements for multinational companies.

Rumors of an XRP ETF and Bullish Sentiment

Per Mr Cryptosis, speculation about a potential XRP ETF (Exchange-Traded Fund) could be a major catalyst for price movement. Another individual advocating for an XRP spot ETF in the U.S. market is Ripple President Monica Long.

She previously argued that XRP is among the most prominent crypto assets consistently trading in the top 10. Long highlighted that XRP’s valuation, ranking as the seventh most valuable cryptocurrency, supports the case for an ETF.

Meanwhile, other analysts also project an upside for XRP, which is notably 87.03% shy from its ATH. Crypto Bitlord, a crypto pundit, recently claimed that XRP is on the verge of a significant price impact. This assertion comes despite XRP’s recent lackluster performance.

While other altcoins have approached their previous all-time highs, XRP has lagged. However, the growing institutional support and ETF speculation suggest that XRP could soon experience a substantial price surge.

Bitcoin Maxi Pushes for Shiba Inu ETF, Labels SEC a Complete Joke

Abdulkarim Abdulwahab
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Bitcoin Maxi Pushes for Shiba Inu ETF, Labels SEC a Complete Joke

Bitcoin maximalist Fred Krueger has called for exchange-traded funds (ETFs) for meme coins like Shiba Inu, though in a lighthearted manner.

Krueger voiced this sentiment in a recent commentary on X, lamenting the SEC’s approval of an ETF he finds undeserving. Specifically, he expressed apprehension at the launch of the YieldMax Short COIN Option Income Strategy ETF, which has the ticker symbol “FIAT.”

This ETF aims to generate monthly yields by using a synthetic covered put strategy on the share price of the common stock of Coinbase (COIN). While it benefits when COIN’s share price decreases, its potential gains are limited. 

Emphatically, the ETF seeks to offer inverse exposure to COIN’s share price, with a cap on potential gains. Bloomberg Senior ETF analyst Eric Balchunas disclosed that the issuer plans to launch a similar ETF focused on Nvidia Corporation (NVDA) with the ticker symbol “DIPS.” However, this new ETF is not yet ready for imminent launch.

Shiba Inu ETF Should Also Launch

Meanwhile, Krueger, a staunch Bitcoin maximalist, sarcastically remarked that it’s astonishing that an ETF with a ticker symbol like FIAT has been approved. 

Krueger argued that if the U.S. regulator is willing to greenlight such a product, they should also allow ETFs for other cryptocurrencies like Shiba Inu, Dogecoin, Solana, and virtually any other asset. He went on to criticize the SEC, calling it “one big, complete joke.”

Notably, the SEC has been a long-standing skeptic of cryptocurrencies, having only approved spot ETFs for Bitcoin after a court defeat. However, since the January approval for Bitcoin spot ETFs, the agency has also endorsed a similar product for Ethereum, with trading set to commence this month.

Currently, an ETF seeking exposure to Solana is under review. Before asset manager VanEck submitted an application to list a Solana ETF, Adam Cochran, a partner at CEHV, suggested that ETFs for meme coins like Dogecoin could also emerge.

Interestingly, the Shiba Inu community recently mobilized to sign a petition demanding Grayscale consider launching a Shiba Inu ETF.

Aaron, the host of the popular channel Altcoin Daily, suggested earlier this month that Coinbase’s CFTC-regulated Shiba Inu futures contract could open the door for a SHIB ETF. A regulated market has been one of the key requirements for the SEC’s approval of ETFs.

Web3 Enabler Integrates XRP Payments in Salesforce Ecosystem

Albert Brown
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Web3 Enabler Integrates XRP Payments in Salesforce Ecosystem

Web3 Enabler confirms building an open-source application to support the integration of XRP transactions within the Salesforce ecosystem. 

The firm announced the development via a Tuesday evening update on X, echoing the official statement on its website. Web3 Enabler urges Salesforce users to learn how to integrate XRP payments into their platform. The post assures Salesforce users of detailed discovery about enhancing business operations with crypto payments in their customer relationship management (CRM).  

 

XRP Transactions in Salesforce

The move by the Web3 product company signals devotion to bringing real-world blockchain advantages to enterprise users within the existing toolset. 

The Web3 Enabler notes that incorporating XRP into Salesforce presents an expanded opportunity for Salesforce users to accept XRP transactions. 

According to the official announcement, the Web3 Enabler team has launched an open-source app for this development, which would allow the acceptance of XRP payments. This significant application is a constituent of XRP Ledger Grants Wave 6, allowing Salesforce administrators to execute XRP-based transactions.

In the statement, Web3 Enabler highlights that the app’s GitHub repository features instructions on how Salesforce users can test the app via the repository or an unlocked package.

The platform discloses that the app accommodates direct XRP-based transactions using Salesforce Org Wallet. This notable feature matches the practice when handling fiat-based payments. 

Plans for XRP in Salesforce V2

Web3 Enabler outlines promising functionalities to build upon the current achievement of the XRP Ledger. The enterprise-oriented company anticipates offering unlocked and managed packages to XRP transactions for the Salesforce application. 

Additionally, the company sees Cloud-specific add-ons in its commercial offering for XRP-based transactions. It acknowledges that as a Salesforce ISV partner, it anticipates providing six packages.

Regarding the use cases, Web3 Enabler clarifies that the Unlocked Packages offer open installation. Nevertheless, it notes that Managed Packages need extensive security review for Salesforce.

Meanwhile, a base package comparable to the 2GP Packaging system is available. Such is usable regardless of the Salesforce Org and features plus add-ons for the logical Salesforce “Clouds.” 

Meanwhile, amid the increase in utility, market data shows that XRP is up 1.2% in the past 24 hours, and the exchange hands have been at $0.4391. 

With the price declining by 9.50% in the last seven days, data confirms that XRP trails the global cryptocurrency market and is 3.80% down. Also, the daily trading volume tumbled 23.60% to $1.039 billion, signaling a fall in XRP’s market activity.

Positive Indicators for Chainlink Turnaround, Is Local Bottom on the Horizon?

Zabi
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Positive Indicators for Chainlink Turnaround, Is Local Bottom on the Horizon?

Retail investors drove $60 million loss in Chainlink (LINK) amid a capitulation spike, signaling a potential local bottom and confidence from large holders.

Recent data from Santiment indicates that Chainlink may be approaching a market bottom. This conclusion stems from significant investor behavior, including the largest trader capitulation spike of the year, substantial realized losses, historical precedent, and the movement of dormant coins.

 

Chainlink recently experienced its largest trader capitulation spike of 2024, with weak hands selling significant amounts of LINK at a loss. Such capitulation often signals a market bottom, suggesting the current selling pressure might be peaking. On July 8, realized losses amounted to $60 million, the highest in 2024. This figure reflects a high level of fear, uncertainty, and doubt (FUD) among traders.

When It Last Happened

On April 13, a similar event occurred, with a large realized loss spike followed by a 17% price increase over the next ten days. This historical pattern suggests that large realized losses can precede a market recovery. The recent realized losses indicate high trader FUD, potentially marking yet another turning point.

Santiment’s chart also notes the movement of dormant LINK tokens inactive for an extended period. The activation of these dormant coins usually signifies a change in market sentiment or anticipation of significant market movements. 

Most Addresses Hold Between 0 – 100 LINK

Holdings distribution data reveals that most Chainlink addresses hold between 0 – 100 LINK. Notably, addresses holding between 100K – 10M LINK are fewer but represent more stable, long-term investors. This distribution suggests that while retail investors dominate, there are also substantial holdings by larger investors.

Chainlink New1110111q101
Chainlink Holdings Distribution | IntoTheBlock

The Santiment analysis aligns with this distribution data, highlighting major trader capitulation and significant realized losses. Ultimately, smaller investors likely drove the $60 million in realized losses, while larger holders’ movement of dormant coins indicates strategic repositioning rather than panic selling.

Long-Term Bet?

The By Time Held distribution chart further clarifies the behavior of LINK holders. Hodlers (1+ year) make up the largest group, indicating confidence in Chainlink’s long-term potential. Cruisers (1-12 months) and short-term traders (<1 month) represent intermediate and short-term speculators, respectively.

ChainLink 2New111101
Chainlink Addresses by Time Held | IntoTheBlock

These observations come only a day after another report that Chainlink whales were increasing their holdings, adding over 6.2 million LINK, valued at approximately $76.88 million. This accumulation, reported by Ali Martinez, further shows the confidence of large holders in LINK’s future performance despite fluctuating market conditions.

How High XRP Could Go if Ethereum Surpasses $50,000

Abdulkarim Abdulwahab
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How High XRP Could Go if Ethereum Surpasses $50,000

This article explores the potential for XRP’s value surge if altcoin leader Ethereum reaches $50,000, as industry pundits anticipate.

XRP and Ethereum have both lost significant percentages of their values in recent times as the crypto asset market battles with bearish forces. At a market value of $2,960, Ethereum currently sells at a month’s low. 

In particular, ETH investors are nursing a loss of approximately 20% in the last 30 days. On the other hand, XRP is trading at a year’s low at $0.4245, though it reflects a 15% loss in the last 30 days.

While XRP and Ethereum currently exhibit underwhelming performances, the crypto community remains ambitious about their prospects. One such audacious view is the expectation of the altcoin market leader to be worth $50,000. With XRP closely following ETH on the ranking, The Crypto Basic assesses XRP’s potential value while Ethereum trades at $50K.

XRP Potential Price When Ethereum Hits $50K

Among the believers in an Ethereum price point of $50K is U.S. investment firm VanEck. The billion-dollar asset manager made the proposition last year based on a detailed examination of the asset. VanEck expects this outlook to materialize by 2030, a timeline analysts at the Changelly exchange agree with.

At its current market value of $2,960, Ethereum needs to advance by 1,590% to attain the $50K threshold. While the altcoin leader boasts a market cap of $355 billion, the $50K price would elevate this valuation to over $6 trillion. 

Meanwhile, with XRP exchanging hands at $0.4245, the fourth largest altcoin could potentially be worth $7.1 should it perfectly replicate Ethereum’s 16X surge to $50K. 

This figure aligns with the estimation of OpenAI’s ChatGPT when consulted. However, the AI chatbot issued a disclaimer that the $7.1 is merely a simplistic estimation, stressing that the actual values of XRP could vary based on multiple elements.

XRP price prediction ChatGPT
XRP price prediction ChatGPT

When Can XRP Attain $7.11?

Like ETH, a $7.11 price point for XRP would mark an unprecedented history. At this point, XRP could wield a fully diluted market cap of $717 billion, a significant advancement from the current $42.45 billion.

Interestingly, Changelly’s analysts believe XRP could achieve the $7 price region by 2030, coinciding with their projected timeline for Ethereum to hit $50K. However, ambitious voices in the XRP community believe $7 is a realistic target for this bull market.

It is worth noting that while XRP ranks closely with Ethereum, XRP’s recent performance pales compared to that of the altcoin leader. For instance, Ethereum was among the best-performing assets during the Q1 bull frenzy. In contrast, XRP underperformed 61% of the top 100 ranking crypto assets in Q1, which worsened to 77% based on the most recent data. 

Massive Shiba Inu Burns May Come As SHIB Burn Tracker Considers This

Lele Jima
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Massive Shiba Inu Burns May Come As SHIB Burn Tracker Considers This

Shiba Inu enthusiasts push for a substantial reduction in SHIB’s hefty circulating supply through more burns.

Shiba Inu’s official burn tracker, Shibburn, is exploring the idea of burning SHIB on Binance using the token’s trading fees, mirroring the exchange’s approach to LUNC incineration.

Consequently, Shibburn questioned whether Binance could extend its burn support to Shiba Inu.

Community Demands SHIB Burn from Binance 

Shibburn raised the question after prominent community figure Lola made a polite request to Binance CEO Richard Teng. In an X comment, Lola asked Binance, under the leadership of Teng, to burn SHIB with a fraction of the revenue obtained from the token’s trading fees.

Lola compared Binance’s support for LUNC burn to that of SHIB and suggested that the exchange extend this support as well.

The Shiba Inu community members had been considering the possibility of burning SHIB on leading exchanges, including Binance and Coinbase. According to a recent X poll, over 96% of participants supported the initiative to burn SHIB on these exchanges.

However, the exchanges have ignored these demands, leaving community members to burn SHIB themselves.

Binance’s LUNC Burn

Following the collapse of the Terra ecosystem in 2022, the community embarked on a revival campaign to bolster the prices of LUNC and USTC. Part of the revival campaign includes sending LUNC tokens to the official dead wallet.

Interestingly, Binance declared support for the initiative, pledging to burn 100% of the monthly trading fees obtained from LUNC spot and margin pairs. However, the exchange reduced its commitment to 50% due to controversies surrounding the re-minting of incinerated LUNC.

Data from LUNC Metrics shows that Binance has burned 62.13 billion LUNC, worth $4.43 million. Binance’s contribution accounts for 49.2% of the total LUNC burns. Similarly, the exchange has also sent 4.38 million USTC to the dead wallet, representing 0.18% of the total USTC burn.

Potential Impact of Binance Burn on SHIB

Meanwhile, Binance has not indicated plans to extend this support to other tokens, like Shiba Inu. So far, 410,727,493,429,684 (410.72 trillion) SHIB have been incinerated, with 27.76 million burned in the past 24 hours.

Notably, Ethereum’s co-founder Vitalik Buterin burned 410 trillion of these tokens in 2021. Despite this incineration, Shiba Inu is still left with a hefty circulating supply of over 589 trillion tokens.

Should Binance heed the community’s request and burn Shiba Inu using part of its trading fees, it could drastically reduce SHIB’s circulating supply, enhancing the price of the remaining tokens.

Something Big About to Happen for XRP: Crypto OG

Abdulkarim Abdulwahab
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Something Big About to Happen for XRP: Crypto OG

Widely followed crypto pundit “Crypto Bitlord” boldly asserts that XRP is on the verge of experiencing something magnificent enough to impact prices.

Crypto Bitlord, who has been in the space for over a decade, voiced this bullish sentiment in a recent post on X. Specifically, the post warned market participants that “something big is about to happen to XRP,” suggesting the need to strategically position for the impact.

This bold claim comes amid XRP’s discouraging price performance since this bull season. For instance, after Bitcoin set the stage, prominent altcoins like Ethereum and Solana came close to surpassing their previous all-time high in March. In contrast, XRP only rallied to $0.74, below its yearly high, and lost steam the following day.

Now, XRP trades at $0.4391, nursing a 9% loss in value since the past week. However, prominent market watchers like Crypto Bitlord believe a turnaround is imminent. In response to his tweet, community members are speculating about the nature of this anticipated significant event.

Edo Farina, Head of Social Adoption at XRP Healthcare, took a skeptical stance, arguing that everything significant about XRP has already happened.

He pointed out that XRP is the only cryptocurrency with regulatory clarity in the U.S. and that the World Bank has categorized it as a stablecoin suitable for cross-border payments. Additionally, he noted that the automated market maker (AMM) is now live on the XRP Ledger.

Likely Events with Potentially Massive Impact on XRP

Meanwhile, commentator Alex Cobb highlighted crucial impending developments as likely events. Topping the list is the final judgment in the SEC vs. Ripple lawsuit. Notably, the litigants have both submitted their points for what fine is appropriate for Ripple’s violation of federal securities laws, now pending the judge’s blessing.

Attorney Fred Rispoli recently suggested that Judge Analisa Torres might make the final decision on either the 31 of this month or July 13. The latter date holds poetic relevance to July 13, 2023, when the judge ruled that XRP is not a security—a landmark decision that saw XRP soar by about 100% in 24 hours, reaching $0.93.

Another point Cobb cited is a potential BlackRock XRP ETF filing, though this prospect is less likely. Close industry observers believe a Solana ETF would precede that of XRP. Indeed, asset manager VanEck has already filed for a Solana ETF, with other issuers expected to follow suit.

Lastly, Cobb suggested that a major bank adoption announcement from Ripple or any institutional players seeking to leverage XRP could be on the horizon.

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