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coinpedia 2024-12-30 11:47:00

XRP ETF Likely in 2025? Ripple vs SEC Lawsuit Reaches Critical Turning Point

The post XRP ETF Likely in 2025? Ripple vs SEC Lawsuit Reaches Critical Turning Point appeared first on Coinpedia Fintech News The XRP community is eagerly anticipating the US SEC appeal deadline on Jaunary 15th and its potential impact on the XRP ETF prospects. Notably, in November, the agency had requested an extension to submit its appeal by early January, with some speculating that the delay was to wait for the US election results. Appeal To Be Dismissed? However, now, with the incoming pro-crypto Trump administration and Paul Atkins as the next SEC chair, there is growing doubt about whether the agency will proceed with the appeal. The appeal will continue for now, and that process takes about a year. But there is the possibility that a new administration decides to move to dismiss the appeal. That's not something I recall happening before, but it's possible and maybe likely. — Marc Fagel (@Marc_Fagel) December 22, 2024 Earlier, Ripple’s Chief Legal Officer (CLO), Stuart Alderoty, had also called for an end to the 4 year SEC battle, urging the incoming Donald Trump administration to conclude this legal battle. He believes that with a crypto-friendly SEC chair like Paul Atkins, there’s a chance to rebuild confidence and bring the clarity the industry desperately needs. Notably, the regulator could clarify XRP’s security status and accelerate its ETF approval chances if the appeal is dismissed. So far, the agency has only approved Bitcoin and Ethereum ETFs as they are not deemed securities. However, the market has remained hopeful that the new administration will approve several altcoin ETFs in 2025 like Solana and XRP. Companies like Bitwise, Canary Capital, 21Shares, and WisdomTree have already submitted their XRP ETF proposals. As of this writing, prediction site Polymarket was pricing a 75% chance of an XRP ETF in 2025. Bullish Outlook The current market positioning suggested that XRP holders expected an extra rally, driven by the potential ETF approval. The XRP holders might be waiting for the ETF outcome or expected 2025 altcoin season. With experts projecting that ETF approval could push XRP above $5, the wait could be worthwhile. Besides, adding to the bullish factors is a recent comment from a prominent analyst. Lark Davis, in a latest X post has shared a bullish message that the crypto market is headed towards a $10T market cap. “And when that happens, it will unleash mind-blowing gains that most people can’t even fathom,” he noted adding to the bullish momentum in the market.

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