XRP ETF Approval Odds at 65% Amid Ongoing SEC Legal Battle
The potential approval of an XRP exchange-traded fund (ETF) has increased due to the crypto-friendly stance of US President Donald Trump. However, Ripple's ongoing legal issues with the SEC may delay this approval.
- Analysts from Bloomberg estimate a 65% chance of XRP ETF approval in 2025.
- Comparatively, Solana has a 70% chance, Dogecoin 75%, and Litecoin 90%.
- Approval hinges on the resolution of Ripple’s legal battle with the SEC.
- Top firms applying for an XRP ETF include Grayscale, WisdomTree, Bitwise, Canary, and 21Shares.
- SEC may review filings for XRP and Dogecoin soon.
- Guidelines for digital asset classification may emerge by late 2025, aiding ETF approvals.
Pro-lawyer Jeremy Hogan highlighted that the entire process could take about 8-12 months post-approval due to necessary filings. Nasdaq has sought SEC permission to list CoinShares’ planned XRP and Litecoin ETFs.
XRP Price Analysis
XRP's price rose over 2% in the last 24 hours but trading volume fell more than 19%. The token is trading between $2.25 and $2.50, with support around $2 since its last rally.
- Relative strength index at 40 indicates nearing oversold conditions.
- MACD histogram shows decreasing selling momentum.
- A break below $2 support could signal further declines.
If the SEC approves an XRP ETF, it could lead to a significant price increase and positive sentiment in the market.
