Ripple CEO Brad Garlinghouse announced a significant victory for the company and the entire crypto industry regarding the SEC.
XRP ETF Optimism Grows
Following the announcement of Ripple's victory, bettors on Polymarket increased the odds of an XRP ETF being approved by the end of the year from 77% to 79%. This rise in optimism is part of a larger trend in the crypto market as the SEC has recently received numerous applications for altcoin ETFs.
Potential Investments in XRP ETFs
Major financial institutions are predicting significant inflows into XRP ETFs if they receive approval. Virtual asset service provider Northstake estimates that investors could pour up to $800 million into XRP ETFs within the first week of trading. JPMorgan analysts forecast that XRP funds could attract $8 billion in their first year.
XRP Price Predictions
XRP, the digital asset used by Ripple to facilitate cross-border payments, has surged 14.3% in the past 24 hours and is now up 250% over the past year. The price of XRP has surpassed the $2.50 mark and is now eyeing a return to $3; if broken soon, we should expect higher highs in Q2 of 2025.
With the SEC set to make its final decision on XRP ETF applications by mid-October, the crypto market is preparing for a potentially historic moment in the industry.
