[ad_1]
“Shocked more people aren’t talking about SEC accepting XRP ETF filing… They have open litigation w/ Ripple. Meanwhile, they just acknowledged filing of ETF holding asset in dispute (they easily could have rejected this filing). Enormous message IMO.”
Geraci referred to the SEC’s acknowledgment of Grayscale’s 19b-4 application, fueling speculation that the SEC may withdraw its appeal against the Programmatic Sales of XRP ruling in the Ripple case.
Investors are also waiting for SEC responses to 19b-4 applications from Bitwise, Canary Funds, and WisdomTree.
XRP Demand and Market Implications
XRP demand could surge if the SEC withdraws its appeal and approves an XRP-spot ETF. Since the July 2023 Programmatic Sales of XRP ruling, Ripple has expanded its presence in the US market, elevating XRP’s profile.
Significantly, potential integration with SWIFT could impact XRP’s supply-demand trajectory. An XRP-spot ETF market could draw institutional money in search of cryptos with everyday utilization. According to reports, XRP has yet to be integrated into SWIFT’s infrastructure. However, integration could further boost institutional interest in the third-largest crypto by market cap.
XRP Price Trends: ETF Speculation and SEC Appeal in Focus
On Friday, February 14, XRP soared 6.87%, following Thursday’s 3.54% gain, closing at $2.7377. XRP outperformed the broader market, which advanced by 1.47%, taking the total crypto market cap to $3.19 trillion.
[ad_2]
