Ah, the winds of change blow through the hallowed halls of finance! The U.S. Securities and Exchange Commission (SEC) has finally acknowledged the existence of multiple XRP ETF applications, including those from the illustrious Grayscale and 21Shares. This surge in approval odds to a staggering 81% is not just a number; it’s a reflection of a regulatory landscape that seems to be shifting faster than a cat on a hot tin roof! 🐱🔥
Betting Markets Reflect Strong Confidence
Polymarket’s XRP ETF approval odds have jumped from a mere 70% in January to a robust 81% now. It’s like watching a tortoise suddenly decide to sprint! The mood has shifted dramatically, with bets nearly split as we gaze into the crystal ball of July 31, 2025. Who knew betting could be this thrilling? 🎲
Bloomberg ETF analyst James Seyffart, the ever-skeptical sage, once proclaimed that an XRP ETF would remain a dream until Ripple’s legal battles with the SEC were settled. But lo and behold! New regulatory developments are like a breath of fresh air, and the SEC seems to be warming up to the idea of approving several XRP ETF proposals. Who would have thought? 🤔
SEC Takes First Step in Evaluating Grayscale and 21Shares XRP ETFs
The SEC’s decision to acknowledge these filings is a procedural step, but historically, it’s like the first crack in a dam. Under Section 19(b)(2) of the Securities Exchange Act, the SEC has a leisurely 240 days to either approve or reject these applications. The crypto community is watching with bated breath, as recent approvals for spot Bitcoin and Ethereum ETFs suggest a new dawn in regulatory attitudes. 🌅
Jeremy Hogan, a partner at Hogan & Hogan, believes that while initial approval could come faster than a speeding bullet, a fully tradable XRP ETF might take its sweet time. “Yes, the approval can happen that fast, but then the S-1 has to be approved, etc. So, think of it more like 8-12 months,” he quipped. Patience is a virtue, my friends! ⏳
Market Reaction and Price Movements
XRP’s price has responded to the news like a kid in a candy store, surging over 10% in just two days! It broke past its $2.50 resistance level, reaching a high of $2.78. Market analysts are whispering that a successful breakout above $3.40 could trigger a rally that would make even the most stoic investor do a little dance! 💃
According to crypto strategist EGRAG Crypto, XRP’s price movement is still within a bullish structure. He identified key resistance levels at $2.62, $2.75, $2.94, and $3.22, with $3.40 being the golden ticket. “A sustained close above $3.40 would mark the first time XRP has reached a new all-time high in over seven years,” he noted. Talk about a comeback! 🎉
Watch – XRP Price Analysis Video
Weiss Crypto Issues Cautionary Note
But wait! Not everyone is throwing confetti. Weiss Crypto, a financial rating agency, has issued a cautionary note on XRP’s long-term viability. They argue that regulatory shifts alone do not create a strong use case for the asset. It’s like saying a shiny new car will drive itself! 🚗💨
Meanwhile, Ryan Selkis, founder of Messari, boldly declared that stablecoins have already won the race for mainstream crypto adoption. “Stablecoins won. The legislation will soon codify that victory in the U.S. XRP is drawing dead, as stablecoins grew two orders of
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2025-02-15 20:24