In the past week, XRP has shown significant growth amid rising expectations for ETF approval. Investment firms have filed for XRP ETF applications.
Optimism Around XRP ETF
XRP has increased over 7% in the past week, with a notable 12% rise on Friday. Bloomberg analysts now estimate the odds of XRP ETF approval at 88%, following a prior dip in market sentiment due to SEC Commissioner Caroline Crenshaw's opposition.
Ripple and SEC Dispute Conclusion
The recent surge comes alongside a joint filing by Ripple Labs and the SEC to dismiss pending appeals. This move concludes a lengthy dispute that began in 2020 and allows Ripple to proceed without legal hurdles. Ripple's Chief Legal Officer Stuart Alderoty confirmed the decision, labeling it as "the end" of the conflict.
Current State of the XRP Market
Since April, XRP has surged nearly 99%, rising from a low of $1.79 to a peak of $3.56 in July. The lawsuit's conclusion has been a turning point for investor sentiment, reclaiming XRP's position as a heavily traded altcoin. If the ETF is approved, it could further accelerate XRP's rise and lead it to new all-time highs.
Currently, all eyes are on the SEC's upcoming decisions. The approval of an XRP ETF could reshape the investment landscape for both institutional and retail traders.
