Amid upcoming PCE and CPI data, Bitcoin (BTC) has surged past $107,000. Investors are keenly focused on potential XRP ETF approvals this year.
XRP ETF Prospects
Bloomberg experts are predicting an XRP ETF approval by year-end. The decision is expected before Grayscale's October 17 deadline. Grayscale has already converted its BTC and ETH trusts into ETFs and has applied for XRP as well. Several altcoins also need to be decided upon in October-November, leaving approximately 80 days for possible developments.
Polymarket data suggest an 84% chance of XRP ETF approval before year-end. However, the chance of approval by the end of July is under 10%. This was over 80% at the end of the previous year. There are several reasons for optimism regarding XRP ETF approval:
- CME futures listing has opened the door for XRP Spot ETF approval. - The SEC is in close communication with potential issuers, signaling possible approval. - The new SEC administration does not classify XRP as a security. - Current SEC management is rumored to be requesting S-1 updates for other altcoins, indicating progress toward ETF approvals. - XRP is a US-based altcoin with various agreements with US companies. - The SEC and Ripple have reached an agreement, leaving only procedural aspects unresolved.
Ripple (XRP) Price Analysis
The price is anticipated to reclaim $2.2 support, aided by positive market sentiment stemming from an agreement with China and a truce with Iran. At the time of this writing, Trump is making critical announcements at NATO, with the cryptocurrency market focused primarily on tariff developments.
Rumors of retaliatory measures from the EU may complicate matters for Trump as the July 9 deadline looms. Trump's 50% tax threat has already brought the EU to negotiations, underscoring the likelihood of progress in agreements over the past month. Therefore, significant agreements can be expected in early July along with a rise in XRP and other altcoin prices.
Impact of Political Climate
Under a positive scenario for XRP Coin, a return to the $2.55 and $2.75 range is anticipated. The excitement around the ETF remains strong, and with a decision expected in the coming months, investors are likely to reflect this enthusiasm on the charts.
Current market events and the political climate contribute to heightened interest in XRP, especially regarding expected ETF approval. Investors are closely monitoring developments that could impact both short- and long-term strategies.
