Soaring Probabilities for XRP Record Peak amidst Shifting Tides: Deterioration in Bitcoin's Leadership
In the ever-evolving world of cryptocurrencies, there are some significant updates to share about XRP and OpenSea.
Firstly, it's worth noting that XRP has never traded above $3.65, according to CoinGecko. However, the digital asset, linked to Ripple, has seen a modest price gain of 3.6% in the last month.
The U.S. Securities and Exchange Commission (SEC) has been busy with XRP Exchange-Traded Fund (ETF) applications. Decisions on several delayed Spot-XRP ETF applications, including the Franklin Templeton application, have been pushed back to November 14, 2025. No approvals or rejections are expected by mid-October.
On a brighter note, some analysts predict that more spot XRP ETFs may be approved in the near future. In fact, the first ETF with exposure to spot XRP went live for trading on Thursday.
Moving on to OpenSea, the popular digital marketplace announced in February that a SEA token would launch to reward current and historical traders. Full tokenomic details for OpenSea's token will be announced by early October. The odds for OpenSea launching its token before December are currently at 63%, a shift of about 12% higher since Wednesday evening.
However, the launch date for OpenSea's token is subject to speculation due to the length of the final phase of pre-token rewards. OpenSea will have a native ecosystem token, and the odds for a dip to $2 have been steadily decreasing.
Interestingly, predictors on Myriad think Bitcoin dominance is likely to fall before rising. Bitcoin dominance currently stands at odds of 53%, a decrease from 63%. The odds for Bitcoin dominance to fall to 53% currently stand at an unspecified amount.
In addition, a market for predicting whether OpenSea will launch its token before December has recently been created on Myriad. The odds for XRP reaching $4 currently stand at 60%, and the next potential price movement, according to predictors on Myriad, is a jump to a record price of $4.
Lastly, the SEC has created new generic listing requirements for crypto ETFs. This could pave the way for more ETFs based on various cryptocurrencies, including XRP, in the future.
Stay tuned for more updates as these developments unfold!
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