With the four-year-long legal saga between the SEC and Ripple Labs seemingly concluding, the path is now clear for XRP ETFs in the U.S.
The Path to XRP ETFs in the U.S.
ETF analyst Nate Geraci has expressed optimism about the future of XRP ETFs, stating that with legal uncertainties resolved, financial institutions like BlackRock and Fidelity are likely to apply for products tracking Ripple's token. XRP is one of the largest crypto assets by market cap, making it appealing for major ETF issuers.
A Long-Awaited Conclusion
Ripple’s legal battle with the SEC has been a significant impediment to obtaining XRP ETF approval. In 2023, Judge Analisa Torres ruled that Ripple’s programmatic sales of XRP did not violate securities laws, though institutional sales did. The SEC appealed the decision, but eventually withdrew it, agreeing with Ripple on reducing the fine to $50 million.
Market Impact and the Future of XRP
The conclusion of the case and the discussion around a potential ETF have driven the XRP price to over $2.5. Currently, it is trading at $2.45, showing a 7.3% increase over the past week, outperforming the broader crypto market.
With the SEC case now concluded, Ripple opens new opportunities for financial products like XRP ETFs, potentially making a significant impact on the cryptocurrency market.
