XRP ETF Approval Odds Plummet: Legal Battle with SEC Looms Large

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Oh, darling, have you heard the latest gossip in the crypto world? It seems that despite the crypto-friendly stance of President Trump, the odds of an XRP exchange-traded fund (ETF) approval are looking bleaker than ever!

According to Bloomberg analysts James Seyffart and Eric Balchunas, there’s only a 65% chance of an XRP ETF being approved in 2025. That’s right, folks – Ripple‘s ongoing legal battle with the SEC could be throwing a major spanner in the works.

But wait, there’s more! Solana, Dogecoin, and Litecoin are all looking at better chances of ETF approval, with odds of 70%, 75%, and a whopping 90% respectively. It’s like they’re all sipping champagne while XRP is left nursing a flat Coke.

Now, I know what you’re thinking – “Helen, when will this legal mess be sorted out?” Well, Seyffart has a rather unhelpful answer for us: “It’s our view. That until that WHOLE mess of litigation between Ripple/XRP and the SEC is settled and/or finished or has some sort of expected outcome etc etc – you likely won’t see an ETF. The SEC needs to untangle that mess.”

So, there you have it – Ripple’s legal battle with the SEC needs to be sorted out before we can even dream of an XRP ETF approval. And let’s not forget that even if approval does happen, it could take around 8-12 months to clear the S-1 filing. Talk about a slow dance to the altar!

But hey, at least Nasdaq is trying to help by requesting permission to list and trade shares of CoinShares’ planned XRP and Litecoin ETFs. These ETFs would let investors invest in XRP without actually owning it, by following its price with secure storage and daily value updates. If approved, the strong interest in an XRP ETF could help the token reach a new level.

As for the current state of XRP’s price, it’s been struggling to break resistance as ETF speculation grows. The token has been trading within the range of $2.25 and $2.50 for the past week, with no clear bullish or bearish signals. But hey, at least the relative strength index is at 40, showing that the price is getting closer to the oversold position. It’s also a sign that the bears could be in control of the market to some extent.

So, there you have it – the odds of an XRP ETF approval are looking as grim as a British winter, and Ripple’s legal battle with the SEC is looming large. But hey, at least we can all enjoy a good laugh at the expense of XRP’s price struggles. 😂

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2025-02-11 18:07