In a recent podcast, financial expert Linda Jones provided insights into the intricacies surrounding XRP’s price movements, offering optimism for the digital asset’s future despite existing frustrations within the crypto community over its lacklustre performance.
— Linda P. Jones (@LindaPJones) January 8, 2024
Ripple and SEC Lawsuit Settlement
Jones emphasized the critical role of the settlement amount from the Securities and Exchange Commission (SEC) in determining XRP’s future trajectory. The uncertainty surrounding this figure has been a deterrent for potential XRP investors. The settlement amount, resulting from the SEC’s judgment on Ripple’s institutional transactions deemed securities in July 2023, is seen as a key factor that, once disclosed, could bring much-needed clarity to institutional investors and potentially alleviate their hesitation to engage with XRP.
Jones pointed out that the settlement amount is integral to Ripple’s plans for an initial public offering (IPO). Referring to Ripple CEO Brad Garlinghouse’s statements, she noted that the company cannot proceed with an IPO until the settlement amount is finalized and the lawsuit chapter is officially closed. The lack of a clear settlement figure is seen as a hurdle preventing Ripple from moving forward with its IPO plans.
Anticipation of Crypto Legislation
Jones highlighted the significance of impending U.S. crypto legislation in influencing XRP’s future valuation. While acknowledging that the legislation might not materialize until 2025, she suggested that XRP could experience a surge even before legislative frameworks are established. Jones argued that the introduction of U.S. legislation could mark the end of meme-themed coins, potentially enhancing the appeal of utility-based projects like XRP.
Jones expressed optimism about XRP’s price rising with increased institutional adoption, contingent on legislative developments. She acknowledged that some institutions, including family offices and private wealth entities, have already entered the crypto space. Jones cited projections estimating the crypto market’s potential to reach $100 trillion by 2030, with tokenization and the influx of institutional and retail money playing pivotal roles. In a scenario where the market achieves this valuation, XRP is positioned to command a significant portion of the market share due to its status as one of the most valuable crypto projects.
Bitcoin Halving Cycle
Jones highlighted the upcoming Bitcoin halving, set to occur in four months. Throughout history, Bitcoin halvings have led to record-breaking all-time highs in both Bitcoin and the broader crypto market. This event, characterized by a reduction in Bitcoin rewards and subsequent scarcity, could impact XRP’s value positively.
With XRP currently valued at $0.5696, the culmination of these projected events leaves the future value of XRP uncertain, but market participants are closely monitoring these factors for potential developments in the digital asset’s price and market dynamics.