Here’s Why June 17 Can Change Things For XRP and Ripple

The post Here’s Why June 17 Can Change Things For XRP and Ripple appeared first on Coinpedia Fintech News

A big XRP ETF decision is due tomorrow (June 17). With Ripple pushing for a legal settlement and the SEC set to decide on Franklin Templeton’s ETF filing, XRP could be ready for a parabolic move if things move in its favour. 

XRP ETF Approval Odds Strong at 88%

The odds for a spot XRP ETF approval on Polymarket surged to 98% in June and have slightly dipped to 88% this week. 

The SEC is expected to announce its decision on Franklin Templeton’s spot XRP ETF tomorrow, on June 17, which could be a major turning point for XRP and the broader crypto market.

Another Delay?

Bloomberg analysts now predict an 85% chance for XRP ETF approval this year. Top firms like Bitwise and Grayscale are also waiting for approvals. Grayscale’s XRP ETF decision is likely due by October 18, while ProShares has requested a final decision by June 25. If approved, the SEC won’t be able to delay ProShares’ ETF beyond that date.

Bloomberg ETF analyst James Seyffart says the recent XRP ETF delays are normal, not surprising. The SEC usually takes the full review period, with most final decisions expected in October. He also said that even with a crypto-friendly SEC, early approvals would be “out of the norm”.

Also Read :   Ripple CTO’s New XRP Fee Proposal Aims to Fix Overpayments – Here’s How   ,

XRP ETF Approval Hinges on Key Legal Updates

Nate Geraci, the President of Crypto ETF Store, explained how Crypto ETFs are evolving fast with staking, in-kind redemptions, and altcoin ETFs on the way. 

Ripple and the SEC filed a second joint motion on June 12, asking Judge Torres to lift the XRP sales ban to institutions and reduce the $125M fine. Legal experts are watching closely. 

While some believe that Judge Torres could approve the motion by June 19, others remain cautious. Pro-crypto lawyers like John Deaton give the motion a 70% chance of success, while Bill Morgan warns that the court may push back again.

An approval could clear the way for an XRP spot ETF, with Franklin Templeton’s deadline in focus. But with the ongoing legal battle, the SEC may likely delay its decision.

XRP is currently trading at $2.23, up 3.2% in the last 24 hours. With legal clarity and ETF approval lining up, a big breakout could be near for XRP. But any delays or setbacks may lead to a short-term sell-off.