Amid growing optimism surrounding Ripple and its cryptocurrency XRP, experts are discussing the likely ETF approval and the impact of current events on the market.
Likelihood of XRP Coin ETF Approval
According to Bloomberg analysts, an XRP Coin ETF may receive approval by the end of the year. Several factors support this forecast, including expectations that the approval will occur before Grayscale's deadline on October 17. Grayscale is actively working on including XRP Coin. A Polymarket analysis shows an 84% likelihood of ETF approval, though the probability of this happening before the end of July is below 10%.
* The introduction of CME futures for XRP lays a foundation similar to BTC and ETH for a Spot ETF pathway. * Communication between potential issuers and the SEC suggests a prospective approval, * The current SEC leadership does not classify XRP Coin as a security. * Rumors about SEC interest in S-1 updates for SOL Coin indicate a move towards altcoin ETF approvals. * Being a US-based altcoin with numerous local agreements strengthens XRP’s position. * A resolution between the SEC and Ripple has been reached, focusing now on procedural issues.
Factors Influencing XRP Prices
It is expected that XRP may soar above the $2.2 mark. Diplomatic gestures from China and a ceasefire with Iran are contributing to positive market sentiments. Meanwhile, Trump’s statements at the NATO summit continue to capture investor interest, emphasizing developments around tariff negotiations.
Speculative EU retaliatory measures threaten to irritate Trump further, as the July 9 cutoff for negotiations approaches. Trump has already pressured the EU with a significant tax threat, creating potential for tangible progress in negotiations. An early July deal could potentially catalyze XRP Coin’s upward momentum alongside other altcoins.
XRP's Prospects in the Near Future
In a favorable outlook, XRP Coin may target the $2.55 to $2.75 range. Enthusiasm surrounding potential ETF approval remains strong, with a decision in sight, suggesting inevitable investor-driven momentum in XRP’s market performance.
Thus, Ripple and its cryptocurrency XRP are at the forefront of attention due to expectations of ETF approval and positive market changes. The market is poised for potential shifts that may significantly impact prices.
