Last week in the Crypto industry we saw major reports surrounding XRP and bullish developments related to coins.
Although XRP prices have been slow to respond to these developments, proponents hope that the future of tokens will be brighter and higher prices will eventually emerge.
Major XRP developments from Ripple's lawsuit
One of the most important XRP-related events of last week was an agreement to suspend the appeal process between Ripple and the SEC. The parties are currently pursuing comfortable terms of settlement.
In particular, Ripple negotiated that a reduction in fines from the SEC and a ban on future XRP sales would lift sales to institutions. The agency has temporarily agreed to this request, but the contract remains subject to votes from the SEC committee members.
Final approval concludes the nearly five-year lawsuit. This is the result of many people being considered very bullish for XRP.
Ripple's biggest deal ever and what it means for XRP
Beyond legal developments, XRP went through a major milestone last week in terms of partnerships. Most important of these was the $1.25 billion purchase of Hidden Road, the biggest acquisition ever, Ripple's announcement.
Ripple's Chief Technology Officer David Schwartz has confirmed that the acquisition will significantly benefit XRP's blockchain, XRP Ledger (XRPL), as well as its native token XRP.
Some analysts estimate that the development will allow XRP ledgers to handle $1.5 trillion in trading volumes per year. Such a high level of capital flow through XRPL is considered very bullish for XRP coins.
Interestingly, XRP enthusiasts highlight Ripple CEO Brad Garlinghouse's comments that financial institutions like BlackRock could help them enter the crypto space. His mention of BlackRock sparked speculation about a potential partnership.
XRP ETF debut
Additionally, the XRP ETF made its fierce debut last week in the US market. In particular, this was an XXRP, a double leveraged ETF by Teucrium. On the first day of the transaction, it recorded a massive $5.4 million in sales, even in the bearish market. This number was four times the number of SolanaETFs on their debut day.
This impressive ETF launch has attracted industry-wide attention and many interpret it as a further confirmation that demand for US XRP products is underestimated. Commentators like John Deaton used the moment to suggest that XRP could rise in value and become the second largest cryptocurrency after Bitcoin.
Bold price forecasts from multinational banks
And last week, the XRP community welcomed a bold price forecast from multinational bank Standard Chartered. In particular, the bank predicted that XRP could reach $5.50 in 2025. Looking further, the bank predicted that XRP could exceed $12 by 2028.
