- Ripple surged 4.4% after the SEC acknowledged Grayscale’s XRP ETF filing, sparking optimism about regulatory clarity.
- Ripple CEO Brad Garlinghouse’s meetings with lawmakers hint at growing institutional interest in XRP’s future.
Ripple is making waves in the crypto market. The token outperformed Bitcoin and other top cryptocurrencies after the U.S. Securities and Exchange Commission (SEC) acknowledged Grayscale’s proposal for an XRP exchange-traded fund (ETF).
SEC’s Acknowledgment Sparks Excitement
The SEC’s acknowledgment of NYSE Arca’s 19b-4 filing is a big step forward. While it does not mean the ETF will be approved, it signals progress. Investors see this as a potential game-changer for XRP’s legal status.
XRP jumped 4.4% on the news, showing strong market confidence. The move highlights how regulatory developments can influence prices in the crypto world.
A Step Toward Regulatory Clarity
XRP has faced legal uncertainty for years. In 2023, a federal judge ruled that Ripple is not a security when traded on exchanges. However, questions remained about its institutional sales.
If the SEC approves the XRP ETF, it could bring much-needed clarity. It may also impact the ongoing Ripple lawsuit, where regulators are still scrutinizing institutional transactions.
Ripple CEO’s Strategic Meetings
Ripple CEO Brad Garlinghouse has been actively engaging with policymakers. Just hours before the SEC’s acknowledgment, he met with key lawmakers, including Sen. Tim Scott and Bo Hines.
Garlinghouse’s discussions with political leaders hint at growing institutional interest in crypto. Reports suggest he is on a shortlist of experts being considered for advisory roles in the Trump administration’s crypto council.
XRP’s Future Outlook
The XRP community is watching closely. If the SEC greenlights the ETF, it could lead to increased adoption and price gains. Many investors are betting on a bullish future for XRP.
For now, XRP remains one of the hottest topics in the crypto space. Its recent surge proves that regulatory developments continue to drive market sentiment.
