Grayscale has made significant strides toward gaining approval for a spot XRP ETF, officially starting the assessment process by the U.S. Securities and Exchange Commission (SEC).
What Steps Have Been Taken for XRP ETF Approval?
Following the approval of a spot Bitcoin ETF, Grayscale is targeting similar products for other cryptocurrencies. However, the SEC's publication in the Federal Register does not guarantee approval, it merely signifies the start of the decision-making process, as noted by journalist Eleanor Terrett from Fox Business.
How High Could XRP Prices Go If Approved?
Despite the ongoing lawsuit between Ripple and the SEC, a successful launch of an XRP ETF could attract institutional investments. Analysts suggest that if XRP prices break through resistance levels at $2.75-$2.80, new highs might be reached.
Potential Market Influence Factors
If XRP manages to surpass key resistance levels, it could lead to significant upward momentum, potentially reaching $3 and beyond.
The situation with Grayscale and the XRP ETF remains uncertain. However, positive expectations regarding approval are fostering interest in XRP.
