John E. Deaton, a renowned crypto lawyer, has laid his thoughts on what a settlement in the SEC Vs. Ripple lawsuit could mean.
Also, experts have given their predictions on how a spot ETF approval will affect the prices of Bitcoin and Bitcoin Spark.
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XRP Experienced Price Jump As Attorney Predicts Ripple Settlement
Attorney John Deaton has predicted that the settlement of the SEC vs. Ripple lawsuit will be 90/10 in favor of Ripple. He stated that a settlement of $20 million or less would be a win for the company.
The announcement has already had a favorable impact on the price of XRP. On the weekly chart, the value of XRP saw a sharp price movement that increased by over 10%. The altcoin’s price has risen to $0.6777.
Some analysts have projected that Ripple will win the XRP litigation, which might continue to support the altcoin’s optimistic price performance. Santiment also reported an increase in whales holding the altcoin. The XRP price prediction suggests a rally to $1 after a settlement is reached.
Bitcoin HODLERs Rise in Anticipation of Spot ETF Price Surge
The Bitcoin price experienced a major surge in ‘Uptober,’ increasing by more than 28%. The surge pushed Bitcoin’s year-to-date above 110%. Bitcoin HODLers have held onto their coins, expecting another surge. HODL indicator showed that in the last three months, over 90% of the Bitcoin supply hasn’t moved.
The highly anticipated spot Bitcoin ETF approval, which has been slated for late 2023 or early 2024, is one of the primary reasons for this. Also, the Bitcoin halving is scheduled to happen in less than six months.
In two months, Matrixport predicts that the price of Bitcoin will reach $45,000. After the halving, BitQuant was even more optimistic, forecasting a new all-time high of $250,000.
Bitcoin Spark (BTCS) Likely to Spike on ETF Approval?
Leading cryptocurrency analysts have expressed optimism about Bitcoin Spark ahead of the spot ETF approval. This is because, unlike other Bitcoin forks, Bitcoin Spark operates on a unique new infrastructure.
Bitcoin Spark, while retaining the security, privacy, and dependability of Bitcoin’s original code, introduced unique new features that have investors interested. Bitcoin Spark employs a novel Proof-of-Process consensus technique.
Proof-of-Process consensus is a cross between Proof-of-Work and Proof-of-Stake. The PoP consensus algorithm was developed by Bitcoin Spark to be faster and more effective than PoW and PoS. Bitcoin Spark has also introduced contract functionality – a feature lacking in the original Bitcoin.
With its upgraded infrastructure of Bitcoin, analysts have given bullish predictions for BTCS. It is now available at only $3.50 in its ninth crypto presale stage.
Find out more about the Bitcoin Spark ICO below:
Buy BTCS: https://network.bitcoinspark.org/register
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