The U.S. Securities and Exchange Commission (SEC) has officially recognized the XRP exchange-traded fund (ETF) application from 21Shares, signaling growth in XRP-based investment products. This follows the SEC’s recent recognition of Grayscale’s XRP ETF.
SEC Acknowledges 21Shares XRP ETF FilingIn November 2024, 21Shares filed for an XRP ETF, which the SEC has now acknowledged. The ETF would track XRP’s performance, reflecting growing interest in regulated cryptocurrency products.
Competition for XRP ETFsSeveral firms, including 21Shares, Grayscale, WisdomTree, and Bitwise, are competing to launch XRP ETFs. These products would give investors exposure to XRP without owning it directly. The Cboe BZX Exchange has also filed to list these ETFs, indicating the review process is progressing, but final approval remains uncertain.
Could XRP ETF Approval Boost the Price?
Analysts predict an XRP ETF approval could lead to a price surge. Some suggest XRP’s market cap could reach $3.4 trillion, pushing its price to $59, a 24x increase. An ascending triangle pattern on charts indicates that a break above $2.75 could trigger a move toward $3.40.
Regulatory Uncertainty with the SEC Lawsuit
The SEC’s lawsuit against Ripple, ongoing since 2020, continues to create regulatory uncertainty. Despite this, confidence in XRP remains high. If sentiment stays positive, XRP could rise to $110. Currently, XRP Price trades at $2.80, up 14% from its recent low of $2.54, according to Coinpedia Market data.
XRP ETF Approval Outlook for 2025Although SEC acknowledgment doesn’t guarantee approval, the increasing number of filings indicates strong demand for regulated XRP products. Analysts estimate a 78% chance of approval this year, with many awaiting further developments.
