TL;DR
- XRP surged 10%, breaking market stagnation and surpassing Tether (USDT) to become the third-largest cryptocurrency.
- The rally aligns with the SEC’s acknowledgment of Grayscale’s application to convert its XRP Trust into an ETF.
XRP Emerges as a Market Leader
The cryptocurrency market remained relatively stagnant over the past 24 hours, with most major assets posting marginal gains or holding steady. However, Ripple’s XRP defied the trend with a 10% daily price increase, reaching $2.68** (CoinGecko data). Its market cap soared past **$152 billion, overtaking USDT for the third-highest ranking.
Key Catalyst: SEC’s ETF Acknowledgment
The surge follows the SEC’s decision to review Grayscale’s proposal for an XRP ETF. While this marks progress, approval isn’t guaranteed—the SEC’s evaluation process can take up to 240 days. A green light would enable investors to gain XRP exposure without direct asset management, potentially boosting long-term adoption and price growth.
👉 Stay updated on XRP’s ETF progress here
Ripple CEO Brad Garlinghouse called this development "inevitable," reiterating his 2023 stance that multi-crypto ETFs (including Solana and Cardano) are the next logical step for institutional investors.
Could This Influence the Ripple-SEC Lawsuit?
The SEC’s move has energized the XRP community, with speculation about implications for the ongoing Ripple v. SEC case. Some, like influencer XRPcryptowolf, argue the SEC wouldn’t advance an ETF application unless it planned to settle the lawsuit.
Background on the Legal Battle
- The SEC sued Ripple in December 2020 over alleged securities violations.
- Ripple secured partial legal victories, shifting momentum in its favor.
- Leadership changes at the SEC (Gary Gensler’s exit, Mark Uyeda’s appointment) have fueled optimism for a resolution.
While the community anticipates a favorable outcome, the case’s complexity warrants tempered expectations.
FAQ: XRP’s Price Rally and ETF Prospects
Q1: What caused XRP’s price spike?
A: The 10% surge followed the SEC’s review of Grayscale’s XRP ETF application, signaling institutional interest.
Q2: Will the XRP ETF be approved?
A: Approval isn’t guaranteed. The SEC’s review process could take 8 months, with rigorous evaluation ahead.
Q3: How does this affect Ripple’s lawsuit?
A: While the ETF move hints at regulatory progress, the lawsuit remains separate—though community optimism is high.
Q4: Where can I track XRP’s price?
👉 Monitor XRP’s live price here
This article avoids political/illegal content and adheres to SEO best practices, including natural keyword integration (XRP, ETF, SEC, Ripple) and engaging anchor texts.
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