Since the past few weeks, the hype of XRP spot ETF approval has buzzed the wider market, and Bitwise recently filed its S-1 for offering XRP ETFs, yet it is crucial to note that its trading price grew and first time crossed the mark of $1.50 after the victory of Donald Trump.
According to the polls over Polymarket, the known decentralized prediction market is favoring the approval of XRP spot ETFs in 2025 with favoritism of over 82 percent. However, the prediction over the platforms is the majority of times alleged to be influenced by the ones seeking approval to create hype.
Yet a different poll over Polymarket notes that the approval of XRP ETFs will take place on July 31st this year. Some of the pre-established ETF providers have already begun to register themselves for offering XRP ETFs.
With over $16 million in assets under management, Grayscale’s XRP Trust is one of the biggest investment vehicles linked to Ripple’s native coin, the filing claims. The proposed fund will be placed under the custodianship of Coinbase Custody Trust.
Ripple’s SEC lawsuit may cause market issues for XRP’s future as an ETF asset. Ripple Labs and its executives were charged by the commission in late 2020 for executing a $1.3 billion unregistered securities sale.
XRP ETFs to fuel the trading price of XRP in near future
As per market experts, there are several factors that could drive the prices of XRP to sky high but if its ETF gets approval in the near future then there are more chances of a spike in the prices of XRP.
Until publishing, XRP was trading at $3.10 with a weekly decline of 2.77 percent, yet it remains one of the most surged after the historical victory of Donald Trump in the 47th presidential elections in the United States.
The impact of BTC-spot ETFs, which experienced $39.862 million in net inflows since its inception on January 11, 2024, may be replicated by the approval of XRP-spot ETFs. With the help of this infusion of institutional capital, XRP may reach all-time highs, including $3.5505.
With the introduction of XRP-spot ETFs, institutional money may become available, increasing demand and prices. Changes in the regulatory environment, such as the SEC’s position on crypto, will have an impact on the price patterns of XRP.
Crypto market price updates
When writing the cryptocurrency market capitalization was at $3.58 trillion with a surge of 2.09 percent in a week and the trading volume was $104.85 billion with a decline of 20.13 percent.
Similarly, the cryptocurrency fear and greed index was at 54 determining a neutral sentiment, with Bitcoin exchange hands at $104,689 with a market capitalization of $2.07 trillion and a trading volume of $38.19 billion.
The intraday gainer’s list has been ruled by Jasmy Coin with a surge of 25.54 percent, followed by Lido DAO, Pepe, and Render.
