The U.S. Securities and Exchange Commission (SEC) has added Grayscale’s application for an XRP exchange-traded fund (ETF) to the Federal Register. This marks the official start of the review process for the application, which could last up to 240 days. During this period, the SEC will solicit opinions from investors and market experts on the proposal.
Grayscale’s XRP ETF Application Under Review
The SEC has officially included Grayscale’s XRP ETF application in its review process. Initially, the public comment period will last for 21 days, allowing investors and market experts to share their insights on potential impacts.
As the application undergoes evaluation, issues such as market risk, investor protection mechanisms, and legal compliance will be examined. Regulatory concerns highlighted in the SEC’s previous ETF decisions will also play a crucial role in this review. Although the SEC’s recent stance on cryptocurrency ETFs has become more lenient, uncertainties regarding XRP’s legal status may affect the process.
XRP Price and Market Expectations
The inclusion of the XRP ETF application in the official review process has created a positive sentiment in the cryptocurrency market. Experts predict that a significant upward movement may commence if XRP surpasses the $3 mark. Historical price movements of XRP indicate that investors are particularly aware of psychological resistance levels.
The ongoing legal case between the SEC and Ripple 
$2 is also a critical factor influencing XRP price movements. Investors believe that removing legal uncertainties could lead to stronger momentum for XRP. However, some market analysts have observed sudden spikes and sharp declines in XRP’s previous price movements, leading investors to continue focusing on technical levels and market trends.
Jackson Denka, CEO of Azura, emphasizes that the long-term sustainability of XRP hinges on actual adoption and the advancement of blockchain technology. As market participants closely monitor developments in the ETF process, investor sentiment and regulatory processes will play a crucial role in price dynamics.
