Is the US on the Verge of Approving an XRP ETF Following Canary Capital’s Filing? Expert Opinion
The recent filing for an XRP ETF by Canary Capital has sparked optimism in the market, following Bitwise’s initial filing for a similar ETF in the United States. This development coincides with the US SEC’s appeal in the Ripple SEC case, generating significant discussions within the market.
Is XRP ETF in US on the Horizon
There is growing confidence among Wall Street players in Ripple’s native crypto, evidenced by Canary Capital’s second filing for an XRP ETF. ETF Store President Nate Geraci expressed optimism about the approval, suggesting that it is likely imminent, contingent on a key factor, potentially a change in administration.
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Some in the crypto community have criticized the US SEC chair Gary Gensler for regulatory overreach in the crypto sector, with hopes for a change in the SEC administration to facilitate development in the crypto space. Additionally, there is anticipation within the investor and crypto community for a potential positive impact on digital assets innovation if Donald Trump were to win the US presidency.
Will US SEC Lawsuit Halt XRP ETF Launch
The recent US SEC appeal in the Ripple SEC case has affected investor sentiment, with expectations of a prolonged legal battle. Despite this, many within the Ripple community remain confident about the potential launch of an XRP ETF in the US.
XRP’s price experienced a 1% increase, trading at $0.5301, with a 25% decrease in trading volume. The crypto reached a 24-hour high of $0.5341 and a low of $0.5216. The market is awaiting further clarity before making significant investments in XRP.
The recent US SEC appeal has influenced investor sentiment, with the crypto briefly surpassing the $0.66 mark before falling post-appeal. Anticipation for a potential settlement and a cross-appeal in the Ripple Vs SEC case has left the market uncertain.
An ex-SEC lawyer suggested that a Ripple SEC settlement is unlikely due to various reasons. However, despite this, many market experts remain bullish on XRP, particularly in light of the recent XRP ETF filings. An analyst even hinted at a potential XRP price rally to $3 by Christmas, sparking optimism in the market.
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Cryptolifedigital is a cryptocurrency blogger and analyst known for providing insightful analysis and commentary on the ever-changing digital currency landscape. With a keen eye for market trends and a deep understanding of blockchain technology, Cryptolifedigital helps readers navigate the complexities of the crypto world, making informed investment decisions. Whether you’re a seasoned investor or just starting out, Cryptolifedigital’s analysis offers valuable insights into the world of cryptocurrency.
