XRP ETF Approval Looking More Likely Than Ever
The odds of an XRP spot ETF getting approved just got a lot higher—at least, that’s what Bloomberg’s ETF analysts are saying. James Seyffart and Eric Balchunas now put the chances at 95%, which is about as close to a sure thing as you’ll get in crypto regulation.
It’s not just talk, either. Big names like Franklin Templeton, Bitwise, and ProShares have already thrown their hats in the ring with applications. A year ago, this would’ve seemed unlikely, but the mood around crypto regulation has shifted. Maybe it’s the political climate, maybe it’s the pressure from institutions—either way, things are moving.
The Legal Hurdles Aren’t Gone Yet
Ripple’s fight with the SEC isn’t over, but there’s been some movement. Both sides recently asked a federal judge to undo an earlier ruling that labeled Ripple’s XRP sales as securities violations. They also wanted to cut the $125 million penalty down to $50 million, with the rest going back to Ripple.
But Judge Analisa Torres wasn’t having it. She shot down the request, saying they hadn’t met the high bar for reopening the case. That doesn’t mean the SEC won’t keep pushing, though. Ripple’s already agreed to drop its own appeal, and with a closed-door SEC meeting set for early July, some think a resolution might finally be coming.
Why Institutions Are Starting to Take Notice
Even with the legal uncertainty, interest in XRP is picking up. BlackRock hasn’t made a move yet, but there’s chatter they might be waiting for the SEC case to wrap up before jumping in. Meanwhile, Bitwise, 21Shares, and others have already filed for XRP ETFs.
It’s not just ETFs, either. Companies like Webus and Wellgistics have poured over $1 billion into XRP-related projects. Grayscale’s Digital Large Cap Fund—which holds XRP alongside Bitcoin and Ethereum—just got SEC approval to convert into a spot ETF. That’s not a direct win for XRP, but it’s a step in the right direction.
Where XRP’s Price Goes From Here
The market’s still shaky, though. XRP dipped slightly in the last day, hovering around $2.18. It’s up over the past month and year, but if selling pressure keeps up, it could test the $2.13 support level. Some are eyeing a run toward $5 if the ETF approvals and institutional money keep flowing in.
Of course, nothing’s guaranteed. Crypto moves fast, and regulatory decisions can flip sentiment overnight. But for the first time in a while, XRP holders have real reasons to be optimistic.
