XRP News Today: Ripple Anticipates 84% Chance of XRP ETF Approval by Year-End

Ripple, the company behind the cryptocurrency XRP, is anticipating a significant surge in its value as the approval of an XRP Coin Exchange-Traded Fund (ETF) nears. This optimism is fueled by several factors that suggest a favorable regulatory environment for the cryptocurrency.

According to analysts, the approval of an XRP Coin ETF could occur by the end of this year, potentially even before Grayscale's deadline on October 17. Grayscale, which has successfully transitioned Bitcoin (BTC) and Ethereum (ETH) trusts into ETFs, is actively pursuing the inclusion of XRP Coin. This leaves a window of approximately 80 days for potential advancements in the regulatory process.

Polymarket analysis indicates an 84% likelihood of an XRP Coin ETF approval, although the probability of this occurring by the end of July is less than 10%. This contrasts with the over 80% likelihood recorded at the end of last year. Several factors justify these expectations, including the introduction of CME futures for XRP, which lays a foundation similar to that of BTC and ETH for a Spot ETF pathway. Additionally, communication between potential issuers and the Securities and Exchange Commission (SEC) suggests a prospective approval. The current SEC leadership does not classify XRP Coin as a security, further bolstering the prospects for approval. Rumors also suggest SEC interest in S-1 updates for SOL Coin, indicating a move towards altcoin ETF approvals. Being a US-based altcoin with numerous local agreements strengthens XRP’s position. Furthermore, a resolution between the SEC and Ripple has been reached, focusing now on procedural resolutions.

The potential approval of an XRP Coin ETF is expected to drive Ripple's price trends upward. Soaring above the $2.2 benchmark seems likely for XRP, with diplomatic gestures from China and a ceasefire with Iran invigorating market positivity. Meanwhile, statements from former U.S. President Donald Trump at the NATO summit continue to capture market interest, emphasizing developments around tariff negotiations. Speculative retaliatory steps from the European Union threaten to further irritate Trump as the July 9 cutoff for negotiations looms close. With Trump having already pressured the EU with a substantial tax threat, tangible negotiation progress appears plausible. An early July deal could potentially catalyze XRP Coin’s upward trajectory alongside other altcoins.

In a favorable outlook, XRP Coin may target the $2.55 to $2.75 range. Enthusiasm surrounding potential ETF approval remains strong, with a decision in sight, suggesting inevitable investor-induced momentum in XRP’s market performance. The anticipation of regulatory approval and the positive market sentiment surrounding XRP position the cryptocurrency for a significant surge in value.