Crypto pundit UnknowDLT has explained why XRP investors should not sell their tokens within the next three months. This came as he suggested that the altcoin could witness a massive adoption wave, thanks to the event that could occur within this period.
Pundit Reveals Why XRP Investors Should Not Sell Their Tokens Before November
In an X post, UnknowDLT highlighted the end of the Ripple SEC case and the global adoption of ISO 20022 as reasons why investors should not sell their XRP before November. He noted that the XRP lawsuit already ended on August 22, the day that the Appeals Court approved Ripple and SEC’s joint dismissal of the case.
Meanwhile, the pundit stated that the ISO 20022 global adoption will occur by November 22. This is the new financial messaging standard for global payments, and several banks and financial institutions have confirmed plans to adopt this new messaging standard. This could positively impact XRP, as Ripple’s payment solution is ISO 20022 compliant.
XRP serves as the bridge currency in Ripple’s payment services and could gain greater adoption as more financial giants become ISO 20022 compliant, as they may be open to utilizing Ripple’s payment rails. It is worth mentioning that UnknowDLT made these statements in relation to an earlier X post by a community member who told investors that they need to hold their XRP for the next three months once the lawsuit ends.
They both likely expect major developments during this period to catalyze higher prices for XRP. This is based on the fact that the Ripple SEC lawsuit is believed to have suppressed the token’s price action. Moreover, it also hindered some partnerships that Ripple could have secured, which would have boosted XRP’s adoption.
XRP ETF Approval Could Happen Within This Period
The SEC’s approval of the pending XRP ETF applications is one of the major developments that could happen before November. The Commission recently delayed its decision on these funds to October, when it must approve or disapprove the proposed rule change to list and trade shares of these funds.
Despite this delay, Bloomberg analysts Eric Balchunas and James Seyffart predict that there is a 95% chance that the SEC will approve these XRP ETFs. Market expert Nate Geraci is also confident that the Commission will approve these funds and doubled down on his belief when the Ripple case approached its end.
Moreover, the XRP ETF issuers recently amended the S-1 forms for their respective funds, which Seyffart described as a good sign. He noted that this indicates that the SEC has provided feedback to the issuers.
At the time of writing, the XRP price is trading at around $3, down in the last 24 hours, according to data from CoinMarketCap.
