Verizon is reportedly planning to launch its nationwide 4G LTE service on its prepaid network, providing a boost to its sluggish CDMA and 3G speeds.

Things are about to get a lot better for 3G-only Verizon cutomers eager to update their data speeds, as the company finally enters the 4G LTE world. According to Droid-Life sources, the nationwide coverage of reliable 4G LTE networks is finally making the jump to Verizon Prepaid, providing customers of the carrier's pay-as-you-go program a reason to celebrate. The sources expect the move to finally happen on July 17.

Verizon launched its new ALLSET Plans for prepaid customers in March with unlimited voice and text for as low as $45. It was rather disheartening to see the Big Red carrier exclude 4G LTE access and give 500MB data on its 3G and sluggish CDMA network. The carrier offered roll-over data options with one month or 3 months validity, which was a greater addition to data watchers.

Under its ALLSET prepaid plans, Version offers month-to-month data buckets at the rate of 500MB for $5, 1GB for $10 and 3GB for $20. According to Droid-Life, if the add-ons remain intact with the launch of 4G LTE, prepaid customers will have an option to score 3.5GB data on the carrier's high-speed network for $65 per month. The publication also expects the carrier could set its unlimited talk and text with 4GB LTE data plans at $65 per month. But nothing is confirmed until the nation's largest wireless carrier makes some official announcements this month.

The high-speed 4G LTE data speeds will require compatible smartphones like the Galaxy S4 and iPhone 5, which can be activated on the carrier's network with prepaid pricing.

The move is essential for Verizon because its rivals have long offered 4G speeds to its prepaid customers. T-Mobile has been offering the high-speed data access for years and AT&T added LTE to its GoPhone and Cricket prepaid brands. Lower-end prepaid carriers like Straight Talk, too, offer LTE on prepaid networks.