en.bitcoinhaber.net
In a significant development, Grayscale has made strides in its pursuit of a spot $XRP exchange-traded fund (ETF), initiating the formal evaluation process by the U.S. Securities and Exchange Commission (SEC). The SEC’s recent action of publishing Grayscale’s 19b-4 filing in the Federal Register indicates that a ruling on the ETF application is expected by October 18, 2025. This raises the question: could this lead $XRP’s price to skyrocket to a new high of $3.84?
What Steps Have Been Taken for $XRP ETF Approval?
In the wake of the SEC approving a spot Bitcoin ETF, Grayscale is targeting similar products for other cryptocurrencies. However, it’s important to note that the SEC’s publication does not guarantee approval; it merely signifies the start of the decision-making process, as stated by journalist Eleanor Terrett from Fox Business.
How High Could $XRP Prices Go If Approved?
While the SEC’s review period extends for 240 days, uncertainty looms regarding the approval of the spot $XRP ETF. The ongoing lawsuit between Ripple and the SEC complicates matters, particularly regarding the classification of $XRP as a security. Despite Ripple’s legal victories, the SEC’s stance could influence the ETF’s outcome.
- SEC’s approval of spot Bitcoin ETFs may bode well for $XRP.
- A successful $XRP ETF could attract institutional investments.
- $XRP is currently priced at $2.66, with resistance levels around $2.75 to $2.80.
- Technical analysis suggests potential breakout levels at $3 and beyond.
With $XRP trading at $2.66, analysts are watching closely. If the price manages to breach resistance levels, it could lead to significant upward momentum, potentially reaching all-time highs.