XRP, the Crypto currency of Ripple, is today one of the best performing crypto coins and that is because the American Securities and Exchange Commission (SEC) has recognized the last two requests for XRP-based spot stock market funds. The clock has now officially started tapping and for investors the assessment process cannot pass quickly enough.
All XRP ETFs are now being assessed
Yesterday, the SEC the XRP Spot Exchange-Traded Fund officially recognized Wisomtree and Canary Capital. This means that the watchdog now officially processes the applications. It is therefore not an approval, but a crucial first step in the assessment process.
All other XRP ETF applications have recently been recognized by the SEC. Bitwise, Grayscale and 21Shares are also in the race to get such a fund on the stock exchange.
After recognition, the application is still published in the Federal Register, after which the official comment period starts. The SEC then has a maximum of 240 days to decide whether they approve or reject the application. During this process there are various assessment moments in which the committee can approve, reject or postpone the application. The first deadline is 45 days after publication.
Thanks to the pro-Crypto attitude of the SEC under Donald Trump, the chance of approval is now greater than ever. On Crypto prediction platform Polymarket, the chance is even more than 80% that we will get good news this year.
Xrp rate on steam
The XRP course seems to have benefited strongly from the news. The Ripple coin today is more than 7% in the Plus. This makes it even the sixth biggest riser within the entire top 100 crypto coins. At the time of writing, XRP is traded for $ 2.70.
Other large coins also turn green today, but do a lot less well than XRP. Ethereum (ETH) has risen by almost 1%, Solana (SOL) by 2% and Cardano (ADA) by 4%.
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Source: https://newsbit.nl/xrp-koers-stijgt-hard-na-etf-nieuws-uit-amerika/
