The cryptocurrency XRP continues to show market activity. Ripple's legal victories and positive ETF predictions are increasing investor interest.
Ripple's Legal Fight with the SEC
Ripple's legal situation with the SEC is nearing resolution. The SEC has withdrawn its appeal against Ripple. CEO Brad Garlinghouse confirmed this information. This follows a 2023 court ruling that determined XRP is not a security. The SEC's withdrawal has contributed to improved market confidence and recent price gains.
Likelihood of XRP ETF Approval
Bloomberg analysts estimate a 95% probability of approval for spot XRP ETFs by October 2025. Companies such as 21Shares, Bitwise, Canary Capital, and WisdomTree have submitted applications. Approval could elevate institutional investor interest and potentially increase XRP's price.
Growth of RLUSD and XRPL Upgrades
Ripple's stablecoin, RLUSD, has reached a supply of $160 million. This also highlights growing interest in integrating RLUSD within financial systems. The XRP Ledger plans upgrades to enhance programmability, compliance, and lending capabilities. Partnerships with institutions like Santander and BNY Mellon emphasize XRP's use in cross-border transactions.
The growth of XRP and Ripple's legal achievements, in conjunction with the advancements of the stablecoin RLUSD, create a positive backdrop for investors. Predictions affirm a high likelihood of ETF approval, which could significantly influence the price dynamics of the cryptocurrency in the near future.
