The crypto space is abuzz with news of a potential bull run, with BlackRock and JPMorgan leading the way. XRP, the 5th largest cryptocurrency, has seen its share of ups and downs, yet its dedicated community, the XRP army, remains unfazed. Despite the recent bearish trends, XRP managed to hold its ground even when it dipped below a crucial support line, suggesting that the pullback may be a short-term reversal.
The Forbes report highlights the collaborative efforts of the two financial titans in terms of blockchain technology. BlackRock has made history by becoming the first Wall Street giant to adopt JPMorgan’s blockchain-powered collateral settlement program. Moreover, the company’s CEO, Larry Fink, sees blockchain as a stepping stone to the next era of financial markets, which includes a pivotal role for cryptocurrencies.
The report also reveals BlackRock’s use of JPMorgan’s Onyx network and tokenized collateral service. This allowed the conversion of shares from one of its financial market funds, ultimately facilitating a transfer to Barclays in an OTC derivatives transaction.
On the flip side, Ripple continues to make strides in its legal battle against the SEC. Along with the increasing developments in the blockchain sector and heightened XRP volatility, bullish sentiment is growing. Multiple analysts have offered their forecasts, but a recent X post by user EGRAG CRYPTO has caught the attention of crypto enthusiasts. The post speculated that XRP could reach $27 within three years, driven by the Elliott Wave Theory, particularly the “Wave 3”.
The SEC’s active engagement with Bitcoin ETF applicants also hints at the possibility of $17.7 trillion entering the market, surpassing existing futures ETF volumes. All these developments suggest that the crypto market may be heading for a major bull run.
