CoinMarketCap XRP Price Jumps 7.5% as SEC Acknowledges Multiple ETF Filings and Brazil Approves First Spot XRP ETF.

XRP saw a 7.5% price increase on Feb. 20, 2025, hitting $2.71, following key developments regarding its potential for institutional investment. This rally comes after the SEC acknowledged multiple ETF filings for XRP, including submissions by major asset managers WisdomTree and Canary Capital. These filings, which will undergo a 21-day public comment period, are part of a process that could lead to the creation of a regulated investment vehicle for XRP. The SEC has up to 240 days to decide on these filings, which has created a sense of optimism among investors about the cryptocurrency’s future.

In contrast, the U.S. market is still awaiting the SEC’s approval. Although the SEC has acknowledged filings from entities like Grayscale and CoinShares, the process can be lengthy, taking up to 240 days after the 21-day public comment period. These filings are seen as crucial in setting the stage for XRP’s possible inclusion in the U.S. market through ETFs.

Ripple, the company behind XRP, has been in a legal battle with the SEC since 2020 when the SEC filed a lawsuit alleging that Ripple had sold unregistered securities in the form of XRP. This lawsuit has created legal uncertainty surrounding the cryptocurrency, which has affected XRP’s price and market performance. Ripple’s next court deadline is set for April 16, 2025, leading many to speculate that the SEC could delay its decision on the case, which might provide clearer direction for XRP’s future.

Source: FINANCE.YAHOO