XRP ETF Approval Expected in September or October, Says Bloomberg Analyst
Bloomberg analyst Eric Balchunas forecasts a likely approval window in September or October for altcoin ETFs, including the XRP ETF. This follows the SEC's new listing standards for crypto exchange-traded products (ETPs).
Key Points
- The SEC's updated filing allows ETPs for cryptocurrencies with over six months of derivatives trading history on Coinbase.
- XRP qualifies under this standard, making it a top candidate for ETF approval.
- Approval could also extend to Dogecoin and Solana.
- The SEC has approved in-kind creation and redemption for crypto ETPs, enhancing operational efficiency.
- Bloomberg estimates an 85% probability of ETF approval by early fall.
- Despite a delay in Franklin Templeton’s XRP ETF decision to late 2025, Polymarket indicates a rising approval likelihood to 86%.
- Legal issues for Ripple may soon be resolved, potentially allowing both Ripple and the SEC to dismiss their appeals before August 15.
XRP Price Analysis
XRP is currently trading around $3.15 and shows potential for a breakout, but faces resistance between $3.70 and $3.90. A successful breach of this range could lead to price surges above $5. Strong support exists near $2.30–$2.50, providing a favorable entry zone if XRP falls below $3.
XRP Ascending Channel | Source: TradingView