XRP News Today: SEC Delays 21Shares Polkadot ETF Decision Amid 90% Approval Likelihood

The U.S. Securities and Exchange Commission (SEC) has delayed the decision on digital asset management firm 21Shares' application for a spot Polkadot ETF. The deadline for a decision on the Polkadot Spot ETF is set for November 8. Analysts have expressed a high likelihood of approval, with some estimates suggesting a 90% chance. This development comes amidst a broader regulatory landscape that has seen the SEC approve listings of spot Bitcoin ETFs since January 2024 and spot Ether ETFs since May 2024.

The company's goal is to track the performance of Polkadot's native token, DOT, through a passive investment vehicle and offer the cryptocurrency directly to investors by holding it in custody. According to regulatory filings, the fund will use the CME CF Polkadot-to-Dollar Reference Rate as its benchmark, which is calculated based on trading flow from major DOT trading platforms. 21Shares already offers exposure to Polkadot through its products traded on European exchanges and has a significant presence in the digital asset space.

Polkadot was developed by Ethereum co-founder Gavin Wood with the aim of enabling different blockchain networks to connect and communicate with each other. The optimism surrounding the approval of altcoin spot ETFs is not limited to Polkadot. There is growing anticipation for the approval of a spot XRP ETF, with major players such as Franklin Templeton, Bitwise, Grayscale, and 21Shares vying for regulatory clearance. Historically, ETF approvals have triggered significant inflows, as seen with Bitcoin’s jump in 2024. Analysts believe that a similar potential exists for XRP, with some forecasting a surge to $5 by year-end and additional upside to $10 if momentum continues.

The regulatory environment for cryptocurrencies has been evolving, with Ripple’s July 2023 court win against the SEC reaffirming that XRP is not inherently a security. This victory has bolstered confidence in the cryptocurrency community, especially as the SEC considers a more crypto-friendly stance under upcoming leadership. The approval of a spot XRP ETF could further validate XRP’s status as a legitimate investment asset, potentially driving broader ecosystem use and institutional interest.

The technical outlook for XRP is also favorable. The cryptocurrency is currently trading around $2.17, consolidating in a tight range between $2.12 and $2.18. A close above $2.18, paired with a bullish MACD crossover, could open the path toward $2.25–$2.30 in the short term. If bullish momentum persists, XRP could potentially reach $2.50 or higher. However, failure to maintain support below $2.12 could risk a drop toward $2.05 or lower.

The potential for a massive bull run in XRP is supported by strong technical signals, ETF optimism, and institutional interest. Some analysts forecast a push to $3, and even $5 or more in 2025 if the price holds above the $2.50–$2.60 zone. Extreme forecasts, such as the EGRAG model projecting a repeat of XRP’s historic 1,200% run, predict a meteoric climb to nearly $27. Other sources forecast $20–$50 following ETF approval. More measured scenarios anticipate $5–$10 as realistic targets by summer, driven by ETF momentum and Ripple’s stablecoin initiatives.

In conclusion, XRP is at a critical inflection point. The technicals favor a bullish breakout above $2.18–$2.20, and investors are closely watching institutional flows, spot ETF approval, and regulatory clarity as potential catalysts. Targets range from a modest $3–$5 move up to hyper-bullish $20+ scenarios. However, the outcome remains uncertain, with much depending on ETF timing, macro trends, and market sentiment. The setup is compelling, but the ride could be volatile.