ProShares Announces April 30 Launch for XRP Futures ETF Peter Schiff Urges Sell-Off of Cryptocurrencies Amid Gold Surge Ripple-SEC Lawsuit Resolution May Boost XRP Price

ProShares, a prominent managing firm of exchange-traded funds, has announced the launch date for its futures-based XRP ETF, scheduled for April 30. This ETF will be based on futures contracts rather than the XRP token itself, a move that has generated significant interest within the cryptocurrency community. ProShares' previous success with the first futures-based Bitcoin ETF in 2021 has raised hopes that this new XRP product could pave the way for spot XRP ETFs in the future. The launch date, as stated in a newly updated filing by ProShares, is subject to market readiness and potential delays due to unforeseen issues such as market crashes or security concerns.

Renowned market analyst Peter Schiff has issued a controversial prediction, urging investors to sell all their cryptocurrencies and invest in gold and silver mining stocks instead. Schiff, known for accurately predicting the 2008 recession, argues that gold is a better investment option, especially in times of economic uncertainty. His comments come as gold prices reached a new high of $3,291, while Bitcoin's value dropped slightly to $84,700.69. Schiff's bearish stance on cryptocurrencies is not new; he has been a vocal critic of pro-crypto policies and has previously mocked the idea of a US strategic Bitcoin reserve.

Schiff's prediction coincides with the ongoing legal battle between Ripple and the SEC. The Court of Appeals for the Second Circuit has paused the appeal process, allowing SEC members to vote on the terms of their agreement with Ripple. According to the released terms, Ripple is set to win the lawsuit with a reduced fine of $50 million, down from the original $125 million. Additionally, the ban on institutional XRP sales is expected to be lifted, which could further boost XRP's price. The potential resolution of the Ripple-SEC lawsuit, combined with the upcoming XRP ETF launch, has raised hopes of a significant price surge for XRP. However, the market remains cautious, with some analysts predicting that the ETF launch could face delays due to unforeseen issues such as market crashes or security concerns.