Cryptocurrencies Price Prediction: Ripple, Bitcoin & Arbitrum – European Wrap 10 January

XRP and Ethereum ETFs could come after approval of Bitcoin's, Valkyrie Funds CIO says

Eleanor Terret of Fox Business shared views of crypto industry leaders on why Ripple XRP and Ethereum Spot ETFs could soon be approved by the US Securities and Exchange Commission, following the highly probable greenlight for Bitcoin Spot ETFs. 

XRP bulls and Valkyrie Funds’ CIO, Steven McClurg are positive that XRP and Ethereum Spot ETFs will receive the regulator’s seal of approval. Fox Business’s Eleanor Terret shared her conversation with crypto market participants, bulls and bears and Valkyrie Fund CIO, Steven McClurg. They offer different sets of views on the likelihood of SEC’s approval on a single-product XRP Spot ETF. 

Bitcoin ETF announcement hack reveals BTC price upside is likely capped

Bitcoin price is likely to see upside capped since BTC price nearly missed the $48,000 level in response to the false announcement of Spot Bitcoin ETF approval. The US financial regulator, the Securities and Exchange Commission (SEC) revealed that the X account was hacked. 

Securities' lawyers told Fox Business that an approval is likely since the regulator is unlikely to kill ETF applications after they have reached the current state, post filings and amendments. 

Arbitrum price rally likely to extend as ARB TVL doubles in a year

Arbitrum (ARB) price has climbed more than 65% in the past month, following the broadly bullish crypto market sentiment stemming frrom anticipation of a spot Bitcoin ETF approval. Adding to this, the Layer 2 chain has registered a steady increase  of its Total Value Locked (TVL) over the past week, and . ARB’s on-chain metrics support further gains ahead.

The Total Value Locked (TVL) on the Arbitrum chain has more than doubled in the last year. The TVL climbed from $1 billion in January 2023 to $2.479 billion on January 10, 2024, according to data from DeFiLlama.