Is the XRP ETF Approval Just Around the Corner? You Won’t Believe What Happens Next! 😲

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In the grand theater of finance, where the stakes are as high as the ambitions of its players, the United States Securities and Exchange Commission (SEC) has taken a momentous step. It has chosen to scrutinize the application for WisdomTree’s spot XRP Exchange Traded Fund (ETF). This marks the commission’s inaugural formal review of a US-based spot XRP ETF, a moment that could be likened to a peasant discovering a hidden stash of gold in the fields. 💰

As the clock ticks, we find ourselves in a world where the price of XRP stands at a modest $2.22, while the volatility dances around a mere 0.8%. The market cap, a staggering $129.99 billion, looms over us like a benevolent giant, and the 24-hour trading volume of $2.17 billion whispers promises of fortune and folly alike.

WisdomTree XRP ETF: A Tale of Patience and Anticipation

After five long months of waiting, the SEC has finally decided to take a closer look at this proposed ETF. The agency’s mission? To ensure that the interests of investors are safeguarded, as if they were precious jewels in a royal crown. Should the SEC grant its blessing to the WisdomTree XRP Trust ETF, it would be a historic first in the United States, a moment that would echo through the annals of financial history.

In the winter of December 2024, WisdomTree submitted its S-1 filing, hinting at its desire to list the fund on the Cboe BZX Exchange. Upon receiving the SEC’s nod of approval, the Bank of New York Mellon Corp. (NYSE: BK) will step in as the trustee, fund accountant, and transfer agent, much like a trusted steward managing a vast estate.

The proposed fund aims to provide investors with a means to track XRP’s market price through the CME CF Ripple-Dollar Reference Rate. This would allow them to gain exposure to XRP without the burdensome need for private keys or self-custody, a convenience that would surely be welcomed by many. Since that fateful December, WisdomTree has been in a state of anxious anticipation, waiting for the SEC’s verdict.

It was not until May 27, 2025, that the agency finally published its notice under Release No. 34-103124, initiating a more thorough evaluation of the application. From that day forward, the Commission has a generous 240 days to either approve or reject the WisdomTree XRP Trust filing, a timeline that feels both like an eternity and a fleeting moment.

Now, the SEC has opened the floor to public comments, inviting the masses to weigh in on whether the design of the proposed ETF aligns with the noble principles of investor protection and the prevention of market manipulation.

The Odds of Approval: A Rollercoaster Ride

In a twist of fate, other fund managers have also thrown their hats into the ring, seeking to list spot XRP ETFs in the US. Among them are 21Shares, Bitwise, Grayscale Investments, and Canary Capital, all of whom are still waiting for the SEC’s decision on their respective filings. It’s a veritable race, and the stakes are high!

On May 1, the odds of approval for XRP ETFs surged to an impressive 85%, a significant leap from the 65% just two months prior. Analysts, those modern-day oracles, suggest that the higher the chances of approval, the more likely it is that XRP’s price will ascend. At that moment, XRP was trading at $2.30, following a slight dip of 0.66% over the past 24 hours, a reminder that in the world of finance, nothing is ever certain.

These analysts believe that an SEC approval could serve as a catalyst for a potential surge in the Ripple-associated cryptocurrency. The ever-optimistic crypto analyst Ali Martinez has boldly predicted a rally to $15 and beyond, claiming that XRP has broken free from a symmetrical triangle pattern that has held it captive since 2018. Ah, the sweet taste of hope! 🍀

This is why $XRP can still reach $15!

— Ali (@ali_charts) March 14, 2025

Martinez envisions a future where consistent bullish support could propel XRP to new heights. Another analyst, Allincrypto, is even more audacious, predicting a price target of $19.27. The audacity of hope, indeed!

🚨Bloomberg analysts have given 85% odds to $XRP ETF launches this year notwithstanding futures ETFs already given launch dates. Here’s an update on the price chart and where XRP may be heading in 2025.

— ALLINCRYPTO (@RealAllinCrypto) April 30, 2025

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2025-05-28 21:22