The US Securities and Exchange Commission (SEC) has formally acknowledged Grayscale’s 19b-4 filing for an XRP exchange-traded fund (ETF). The agency’s action indicates that it will consider the proposal but does not guarantee approval.
Meanwhile, the XRPUSD H1 chart indicates a bullish trend that began yesterday. The price reached approximately 2.78000 and may continue its upward movement for the near term.
SEC Starts XRP ETF Review Process
Grayscale plans to convert its existing XRP Trust into a fully tradable ETF on the New York Stock Exchange (NYSE) Arca. The company launched its XRP Trust several years ago, similar to its Bitcoin and Ethereum trusts. If approved, the conversion would increase liquidity and accessibility for investors.
The SEC’s acknowledgment is only the first step in the approval process. The filing will be published in the Federal Register, allowing a 21-day public comment period. After that, the SEC can approve, reject, or extend the review by initiating further proceedings.
The decision follows a history of the SEC refusing to engage with altcoin ETF applications under former Chairman Gary Gensler. Solana ETF applications were withdrawn in recent months after the SEC declined to discuss them. The agency has also acknowledged filings for a Dogecoin ETF, a shift from past policies where altcoin ETF applications were typically rejected or withdrawn.
XRPUSD Shows Bullish Momentum After Support
The XRPUSD H1 chart shows that after finding support at 2.32750, the price made a bullish move. It faced rejection around 2.50000, followed by a bearish correction. After consolidating for a while, the price made a strong move upward. As of now, the price remains bullish and may continue its upward movement.
XRPUSD, H1 Chart, Source: TradingView
Meanwhile, DeepSeek AI analyzed Ripple’s legal situation, On-Demand Liquidity (ODL) adoption, and market trends to predict that XRP could trade between $3.50 and $5.00 by the end of 2025, as reported by Finance Magnates.
The model assigns a 70% probability of a positive legal outcome for Ripple, which could boost investor confidence and institutional adoption. Increased use of Ripple’s ODL platform may also raise demand for XRP. Market sentiment, especially Bitcoin’s performance and global economic conditions, will influence XRP’s price movement.
More Firms Await SEC XRP ETF Acknowledgment
Other firms, including Bitwise Invest, 21Shares, Canary Funds, and WisdomTree Funds, have also filed for XRP ETFs. However, their applications have not yet been formally acknowledged. Meanwhile, President Trump has nominated Paul Atkins as the next SEC chairman. Until his confirmation, Mark Uyeda is serving as the acting chairman.
Ripple’s Key Moves: Legal, DeFi, and Partnerships
Recently, Ripple has been engaged with several notable developments across various sectors. The company has partnered with Revolut and Zero Hash to expand access to its RLUSD stablecoin, aiming to strengthen its market position and challenge the dominance of USDT and USDC. This collaboration could enhance RLUSD’s visibility in the competitive stablecoin market.
In partnership with Portuguese currency exchange provider Unicâmbio, Ripple is now offering instant international payments between Portugal and Brazil. The service leverages Ripple’s payment platform, utilizing digital assets for efficient cross-border settlements.
Ripple whales have been actively acquiring XRP tokens, with recent data showing that large investors purchased 520 million XRP during a recent price dip. This ongoing accumulation has drawn attention to Ripple’s market activity.
The SEC’s reassignment of Jorge Tenreiro, who previously oversaw cryptocurrency cases such as Ripple’s and Coinbase’s, has raised questions about the agency’s approach to crypto litigation. Tenreiro’s move to the IT department has sparked speculation on how it might affect future decisions in Ripple’s ongoing legal battle.
Ripple recently donated $100,000 in XRP to aid communities affected by California wildfires. Through The Giving Block platform, Ripple’s donation supports organizations like World Central Kitchen and GiveDirectly, contributing to relief efforts.
In DeFi, Ripple has teamed up with Chainlink to integrate RLUSD with decentralized finance applications on Ethereum. This partnership aims to expand RLUSD’s use case, offering trading and lending features within the DeFi ecosystem.
Ripple is exploring XRP’s potential inclusion in a US crypto reserve, though concerns about centralization have emerged. Ripple’s David Schwartz defended the decentralization of the XRP Ledger, emphasizing its resilience to manipulation and its independent nature.
In Japan, Ripple expects XRP Ledger adoption by banks by 2025, as stated by SBI CEO Yoshitaka Kitao. This initiative aims to improve cross-border payments and currency conversions for remittances, enhancing Japan’s financial infrastructure.
Lastly, the XRP Ledger (XRPL) faced a brief disruption due to an issue with its consensus mechanism, causing validations to fail and ledgers to “drift apart.” Ripple’s CTO David Schwartz confirmed the issue was resolved after a validator reset the consensus, restoring normal network operations.
