Prominent cryptocurrency analyst WallStreetBulls (@w_thejazz) has highlighted significant developments within the XRP ecosystem that could signal substantial growth for the digital asset.
Sharing insights on X, he pointed to the recent passage of the XLS-66d amendment and the potential approval of an XRP-focused exchange-traded fund (ETF) as transformative catalysts for XRP’s value.
According to WallStreetBulls, the XLS-66d amendment, which enables decentralized lending on the XRP Ledger (XRPL), is a pivotal upgrade.
Decentralized lending allows users to engage in peer-to-peer financial transactions without intermediaries, introducing a new layer of functionality to the XRPL. “Institutions are about to flood the #XRPL with loan activities,” he stated, highlighting the amendment’s potential to attract institutional players to the ecosystem.
This upgrade positions the XRPL as a competitive platform within the broader blockchain landscape, where decentralized finance (DeFi) continues to gain traction. Decentralized lending could significantly enhance liquidity, user engagement, and adoption, making XRP a more versatile asset in global financial markets.
The Push for XRP ETFs
In addition to the upgrade, speculation around XRP ETF approvals fuels bullish sentiment. If approved, an XRP-focused ETF would provide traditional investors with streamlined access to XRP through regulated markets, likely increasing demand for the digital asset. WallStreetBulls believes this dual development could soon drive XRP’s value to $10-$15.
Many prominent players in the finance space have filed for XRP ETFs, and Ripple CEO Brad Garlinghouse believes an XRP ETF is inevitable. He is convinced that ETF approval could help XRP grow. Many in the crypto world share this belief.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
RLUSD and XRP’s Potential Role
Another key factor contributing to XRP’s potential growth is the role of RLUSD, Ripple’s upcoming stablecoin. In response to a user inquiry, WallStreetBulls emphasized RLUSD’s significance, stating, “RLUSD will play a major role as well.”
The XRP community is excited about the upcoming RLUSD launch, as it could increase the adoption of Ripple’s technology and help the XRPL grow. This would, in turn, boost XRP’s adoption and price, as it is a crucial part of the ecosystem.
The combined impact of XLS-66d, an XRP ETF, and RLUSD integration paints a promising picture for the XRPL. Institutional adoption is expected to rise, driven by the ledger’s expanded functionality and potential regulatory clarity from an ETF approval.
These advancements make XRP more appealing to retail and institutional investors seeking innovative and scalable blockchain solutions.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
Follow us on Twitter, Facebook, Telegram, and Google News
