XRP Spot ETF Speculation Intensifies Amid Bitcoin Evolution and SEC Uncertainty
Will an XRP ETF follow the Bitcoin ETF approval? What to expect?
The possibility of a spot ETF proposal for XRP exists, but it could depend on how Bitcoin evolves and its standing with the SEC. Regulatory clarity of XRP could benefit it in the case of a spot ETF proposal. Its price has fallen below its post-SEC victory range. The spot BTC ETF generates excitement as various parties eagerly await approvals. After the final approval of the spot BTC ETF, will applications for others, like an XRP spot ETF, follow?
Spot XRP ETF? A possibility?
Amid discussions about the potential approval of a spot Bitcoin ETF, there are speculations about a spot ETF proposal for assets like Ripple’s XRP. Steven McClurg, the Chief Investment Officer of Valkyrie Funds, voiced this idea in a recent interview. He suggested that it wouldn’t be surprising to see XRP and Ethereum spot ETFs on the market. This stance is based on the impending approval of the spot BTC ETF.
Potential impacts of a spot XRP ETF proposal
Observing the historical trend of Bitcoin’s price, XRP could experience notable price changes if a spot ETF proposal is submitted. The initial price movement would likely be the result of anticipation regarding potential approval, leading to speculation. Subsequent price fluctuations would be influenced by reactions to news about the proposal, whether authentic or misleading. Moreover, the most significant price increase could occur upon approval. This would be characterized by a combination of institutional investment inflows and the expectation of a substantial price increase.
A case for approval or rejection of a spot XRP ETF
XRP stands out among crypto-assets as it has achieved a certain degree of regulatory clarity. The clarity is due to its partial victory against the SEC. While this could be a compelling point in its favor, it also introduces a potential counterargument. In a 2023 ruling, it was determined that XRP was at least partially not considered a security. However, the SEC has not yet appealed, and further rulings in the case are pending. The approval of a spot ETF proposal falls under the SEC’s jurisdiction, and the ongoing case against Ripple could influence their decision. Despite the initial ruling, the situation remains precarious for Ripple.
XRP continues to trade downwards
After the ruling on July 13, 2023, XRP experienced a significant price increase, rising from about $0.4 to a high of $0.8. Subsequently, the price stabilized for an extended period around $0.6, until it fell below this range in January. Despite the slight decline, it marked the second consecutive day with a negative price movement.
The 3 best cryptocasinos
|40x the bonus amount
|40x the winnings from free spins
|20 USDT or equivalent
- Maximum bet per round while wagering: 2 USDT – 0.000066 BTC , 0.01 BCH, 0.0011 ETH, 0.02 LTC, 40 DOGE, 2.8 XRP, 25 TRX, 6.6 ADA, 0.008 BNB, 2 BUSD, 2 DAI, 2 EUR – 2 USD.
- Bonus must be used within 30 days of registration.
|25x deposit & bonus
|Bonus validity period:
- Bonus & deposit must be wagered 25x
- Max amounts: 1 BTC/10 ETH/10,000 USDT/10,000 USDC/100 BCH/200,000 TRX/35,000 ADA/150 LTC/125,000 DOGE
- 7 days to wager
- Minimum deposit: 0.1 mBTC
- Slots 100%, game shows 50%, other 0%
|Bonus must be wagered 40x
|Winnings from free spins must be wagered 40x
|30 USDT or equivalent
|€5 per round
|Only with BTC and USDT deposit
- The free spins are given on Sweet Bonanza.
- VERY IMPORTANT: The bonus is only available when depositing with these methods: BTC & USDT.
- To take advantage of the offer, change your wallet to mBTC (μBTC) or USDT and activate the bonus by clicking on “Redeem Bonus” and entering the bonus code.
- Only the first deposit counts for the bonus.