Crypto News Today: As the Grayscale Vs SEC lawsuit continues to progress and the XRP legal battle nears its end, the crypto world is eagerly awaiting the outcome of these two high profile cases. Crypto enthusiasts believe the XRP case could make or break the entire crypto market. With a decision on the spot ETF application expected in the second half of 2023 and the Summary Judgment for XRP expected soon, the crypto market is on the edge of its seat.
Also Read: Ripple CEO: Why US Crypto Ecosystem Is Unlike EU, G20 Groups?
Indicators of an Impending Bull Run
2022 was a difficult year for the crypto sphere, with the Silvergate liquidity crisis creating massive waves in the market. The recent stock market rally could not lift the Bitcoin value either. However, the crypto market could see the onset of a bull run if the following scenarios come to pass. Ripple’s victory against the SEC and the subsequent listing of XRP on US exchanges would be a major reason for optimism. Moreover, the approval of Grayscale’s GBTC spot Bitcoin ETF application would be a highly significant validation for the crypto sector. Additionally, if the war in Ukraine ends, it could bring a much-needed boost to the broader markets, giving Bitcoin a chance to test certain resistance levels.
Finally, the Bitcoin halving in 2024 could also have an immense impact on the crypto prices. Although this is still a few years away, it should be kept in mind as a potential factor that could drive the next bull run.
Also Read: Binance Adds Support For 11 New Tokens In Its Proof of Reserves To Enhance Security
