XRP News Today: Grayscale Files for XRP ETF, SEC Begins 240-Day Review

Grayscale has filed to convert its XRP Trust into a publicly traded ETF, marking a significant development in the cryptocurrency market. The U.S. Securities and Exchange Commission has acknowledged the filing, initiating a 240-day countdown for either approval or rejection. This move by Grayscale could potentially reshape the XRP market, as it would allow traditional investors to enter the space, boosting liquidity and trading volumes.

XRP, with a market cap of $128 billion, is the third-largest cryptocurrency after Bitcoin and Ethereum. The approval of an XRP ETF would solidify its status alongside these major cryptocurrencies, both of which already have ETFs. The legal settlement between Ripple and the SEC further strengthens the case for ETF approval. The two parties have filed a joint motion to release $125 million in escrow, with $75 million returning to Ripple and $50 million going to the SEC. This step signals the end of a years-long legal battle, improving XRP’s position for ETF approval.

XRP’s performance in the last year has been strong, with a 340.1% rise in the last 12 months, 4.02% growth this quarter, and a 0.45% gain in the previous quarter. The broader market sentiment is also bullish, with pro-crypto U.S. President Donald Trump implementing crypto-friendly policies, further fueling optimism around XRP and digital assets. However, approval is not guaranteed. Crypto researcher Ripple Van Winkle cautions that the SEC has historically been slow to approve crypto ETFs, and XRP’s past legal issues with the SEC could complicate the review. If rejected, it would signal ongoing regulatory resistance to crypto, especially XRP.

Despite the challenges, the XRP ETF application is a potential turning point. With strong price momentum, growing legal clarity, and a more supportive U.S. government, all eyes are now on the SEC’s next move. A green light could unleash the next XRP bull run, making it a historic breakthrough for the cryptocurrency market. The outcome of this application will be closely watched by investors and industry experts alike, as it could set a precedent for future crypto ETF approvals.