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Solana ETF Increasingly Likely After the SEC’s Unprecedented Step

The Securities and Exchange Commission (SEC) has acknowledged an application for a Solana exchange-traded fund (ETF), signaling a major shift in the agency’s stance towards altcoin funds. On Thursday, the SEC issued a notice acknowledging a filing from NYSE Arca, which proposes to list and trade the Grayscale Solana Trust. By acknowledging a document called form 19b-4, the enforcement agency is starting the clock on a process under which it must approve or deny the application by Oct. 11. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io CoinOtag

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As Ripple Eyes $5 Trillion Market, Unexpected XRP Parabola Could See Price Rocketing to $22

XRP has continuously displayed bullish signals; market analysts predict the coin will rise to $22 in early 2025, almost 784% from the current price. Such a projection follows when XRP surged by almost 500% from mid-November to early December 2024 to as high as $2.87 before reversing. At the time of writing this article, XRP is at $2.4, 20.5% lower this year following Ripple’s launch of the RLUSD stablecoin . According to the analyst on X, the structure of the asset’s market is solid, and the fluctuation of XRP’s price is part of a normal correction cycle. The analyst predicts XRP will trade at $22 within the first quarter of 2025, with an overall gain of 784% from its current price. CrediBULL Crypto XRP/USDT Technical Analysis|Source X According to the analyst, the prediction is based on technical analysis and examination of historical market trends, concluding that XRP is just in the early stages of a much bigger cycle. The market price of XRP continues to be affected by a legal battle involving Ripple and the SEC and has been stagnant for almost a decade. Thus, experts suggest that if the appeal to the SEC is held in favor of Ripple, the value of the crypto is likely to increase dramatically. Other analysts are also showing optimism about XRP’s future. Popular cryptocurrency trader DonAlt, who predicted XRP’s November rally, believes XRP could double again if it breaks through the $2.60 resistance level. DonAlt XRP/USDT Technical Analysis|Source X XRP has been stuck between $2.20 and $2.60 since early December, but DonAlt sees a potential breakout above $2.60 as the trigger for a new bullish trend. EGRAG, another analyst, highlights XRP’s potential to increase its market dominance to 5.9% or even 6%. If Ripple’s XRP achieves its $5 trillion market cap forecast, XRP’s price could rise to between $8.77 and $17.54. XRP’s market dominance is currently at 2.09%, with the coin now just 37.3% away from its all-time high recorded seven years ago. With Ripple’s RLUSD launch and upcoming IPO, the stage seems set for further growth. If XRP breaks key resistance levels and its legal battle with the SEC concludes favorably, the crypto’s bullish trend could continue. CoinOtag