XRP News: Veteran Investor Gary Cardone Sells Entire XRP Position, Doubts Investors Will Get Rich

Gary Cardone, a seasoned investor and twin brother of知名企业家Grant Cardone, has announced the sale of his entire XRP position at $2.71, citing six personal investment rules. Despite wishing XRP investors 'stupid rich', he expressed doubts about their chances of achieving wealth.

Gary Cardone Sells Entire XRP Position at $2.71, Doubts XRP Investors Will Get Rich

Gary Cardone, a veteran investor and the twin brother of renowned entrepreneur Grant Cardone, has announced that he has sold his entire XRP position at $2.71. Sharing his decision on social media, Cardone, who has 40 years of financial experience, attributed his exit to six personal investment rules he follows. While wishing XRP investors 'stupid rich', Cardone admitted he doesn't believe they will achieve such wealth. The investor emphasized his preference for avoiding assets with unclear supply-and-demand dynamics and investments that cannot be easily explained on a whiteboard.

US Ripple (XRP) ETF Approval Odds Rising, Fueling Optimism in Ripple Community

Over the past few months, there has been an influx of companies trying to launch the first spot XRP exchange-traded fund (ETF) in the United States, including Grayscale, Bitwise, and 21Shares. The US Securities and Exchange Commission (SEC) has officially acknowledged their applications, and Grayscale’s filing has been posted to the Federal Register. The SEC has until October 18 to approve or reject the application, and approval odds for 2025 are currently at 81%, fueling Optimism in the Ripple community. Brazil’s securities regulator has recently greenlit a similar product, which caused an upswing in the price of the underlying asset.

Ripple (XRP) Forecasted To Reach $5.40 in 2025 or 2026

Ripple's native token XRP, the world's third-biggest cryptocurrency, is forecasted to reach $5.40 in 2025 or 2026. Despite failing to breach its all-time high of $3.40 in January 2018, XRP has surged nearly 550% in the last three months, attracting global investors. The price prediction claims that Ripple's XRP could continue its upward trajectory.

Brazil Gives Green Light To World’s First Spot XRP ETF

Brazil is poised to become the first country to launch a spot XRP ETF, known as an exchange-traded fund, after Hashdex received approval from the nation's securities regulator. The Hashdex Nasdaq XRP Index Fund has progressed to its pre-operational phase, confirmed by Brazil's Securities and Exchange Commission (CVM). While a specific launch date is yet to be announced, the fund is expected to be listed on Brazil's B3 exchange. This approval marks a notable milestone for both the Brazilian crypto market and the global XRP community. Unlike futures-based ETFs, a spot XRP ETF directly invests in XRP, providing investors with direct exposure to the asset. This is likely to attract institutional and retail investors.