The dismissal of the Ripple vs SEC case has significantly changed the landscape for XRP ETF applications. With greater regulatory clarity now, the odds for ETF approvals appear much more optimistic.
Impact of Ripple Lawsuit Dismissal on XRP ETF Applications
On August 8, the Ripple vs SEC lawsuit concluded with a $125 million fine intact. This resolution confirmed that XRP sold on public secondary exchanges is not considered a security, although institutional sales are subject to securities laws. Market sentiment immediately improved, with the odds of XRP ETF approval rising to 73% according to Polymarket.
Expert Opinions on the Likelihood of XRP ETF Approval
Crypto analyst Kenny Nguyen believes XRP could be priced between $22 and $50 when the first wave of XRP ETFs launches, implying a potential market cap reaching $1.3 to $3 trillion. Steven McClurg, CEO of Canary Capital, expressed that XRP could attract $5 billion in investments within the first month post-ETF launch, highlighting strong institutional demand.
When Will the SEC Decide on the XRP ETF Applications?
Major asset managers like Grayscale XRP, 21Shares, and Wisdom Tree have applied for XRP ETF applications, but the SEC has delayed its decision. The expected deadline for the final decision is set for October 18 to 25.
The dismissal of the Ripple lawsuit provides new opportunities for the approval of XRP ETF applications. The expectations of experts and the positive developments in the situation suggest significant investor interest to follow.
