XRP News Today: XRP ETF Approval Could Trigger A Massive Bull Run To $30

Recent applications submitted to the U.S. Securities and Exchange Commission (SEC) by major financial firms show growing institutional interest in XRP. If approved, this ETF could push XRP to new surges. 

Meanwhile, PlutoChain ($PLUTO) might enhance Bitcoin by addressing its scalability limitations. By reducing transaction times and integrating Ethereum-like functionalities, PlutoChain may transform Bitcoin’s role in the blockchain ecosystem. 

Let’s check out the details. 

XRP Price Prediction: Could ETF Approval Push XRP to $30?

XRP is currently trading at $2.41 with a drop of around 20% in the past 7 days but with an overall positive trend of +5% in the last 30 days. XRP could be on the brink of a significant rally as major financial firms move to launch exchange-traded funds (ETFs) for the cryptocurrency. 

The Cboe Exchange has submitted four 19b-4 applications to the SEC, seeking approval to list and trade spot XRP ETFs. These proposals come from major asset managers, including WisdomTree, Bitwise, 21Shares, and Canary.

Although the decision is under appeal, the Cboe argues that this ruling strengthens the case for ETF approval. If granted, XRP would join Bitcoin and Ethereum in gaining ETF status, potentially attracting billions in institutional investment.

A technical crypto analyst and content creator, ALLINCRYPTO, predicts that the XRP’s trajectory suggests it might go as high as $19.  An earlier prediction on X from Ali Martinez, an investor and an analyst gives XRP an optimistic target of $48. 

Is It Possible for PlutoChain to Tackle Bitcoin’s Scalability Problems With Hybrid Layer-2 Technology and Smart Contracts?

Bitcoin remains the dominant store of value in blockchain, but its slow transaction times and limited smart contract capabilities have left it struggling to compete with more flexible blockchains. 

PlutoChain, a hybrid Layer-2 solution, could change that by introducing features typically associated with Ethereum, while still maintaining Bitcoin’s security. Unlike Bitcoin’s standard 10 minute block time, PlutoChain offers a 2 second block time on its own L2 chain. 

One of PlutoChain’s most promising aspects is its compatibility with the Ethereum Virtual Machine (EVM). This feature could allow developers to bring Ethereum-based decentralized applications (dApps), including DeFi lending platforms and NFT marketplaces, to the Bitcoin network.

Early testing suggests the network might handle over 43,200 daily transactions, drastically improving efficiency.

Governance may also take a different approach compared to Bitcoin’s traditionally slow upgrade process. PlutoChain could adopt a community-driven model where users vote directly on protocol changes, allowing for faster innovation. 

Security remains a top priority, with audits from firms like QuillAudits, SolidProof, and Assure DeFi reinforcing the network’s stability.

Though still in development, PlutoChain may merge Bitcoin’s security with Ethereum’s versatility and redefine its role in the blockchain space. Bitcoin might evolve beyond a simple store of value into a multi-functional ecosystem.

Bottom Line

The potential approval of an XRP ETF could mark a historic milestone, attracting institutional investors and pushing its price toward $30. 

On the Bitcoin front, PlutoChain might offer a solution to long-standing scalability issues. With potential faster transactions and the introduction of smart contract functionality, it may transform Bitcoin’s usability and adoption. 

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Disclaimer: It’s important to note that participating in presales carries risks, including market volatility and potential project delays. Please conduct thorough research, understand the risks of market volatility, and seek professional advice before engaging with any blockchain project. Future-oriented statements are speculative and may not be modified.