Bitcoin

<ul>
 <li>XRP’s regulatory clarity could aid its cause in the case of a spot ETF proposal.</li>
 <li>Its price has gone below its post-SEC victory range.&nbsp;</li>
</ul>
The <a href="https://ambcrypto.com/search/bitcoin" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Bitcoin [BTC]</a> spot ETF is generating excitement as various parties eagerly await approvals. After the spot BTC ETF receives final approval, will applications for others, such as an <a href="https://ambcrypto.com/search/xrp" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">XRP</a> spot ETF, follow suit?
<h4>Spot XRP ETF?</h4>
Amid the discussions surrounding the potential approval of a spot <a href="https://ambcrypto.com/no-sec-denies-approving-spot-bitcoin-etf-claims-compromised-account/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Bitcoin ETF</a>, there are speculations about a spot ETF proposal for assets like Ripple’s XRP. 
<a href="https://twitter.com/EleanorTerrett/status/1744797194958365133?t=IZ9Q6aRWkl9gzMWCCtLONQ&amp;s=19" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">Steven McClurg</a>, the Chief Investment Officer of Valkyrie Funds, expressed this idea in a recent interview. He suggested that it would not be surprising to see <a href="https://ambcrypto.com/xrp-price-prediction-shows-another-move-south-could-be-imminent/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">XRP</a> and Ethereum spot ETFs entering the market. 
This position is based on the imminent approval of the spot BTC ETF. How might a spot ETF proposal affect XRP?
<h4>Possible impact of a spot XRP ETF proposal</h4>
Observing the historical trend of Bitcoin’s price, <a href="https://ambcrypto.com/chatgpt-xrp-price-prediction-jan-07/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">XRP</a> could experience notable price changes upon submitting a spot ETF proposal.
 The initial price movement would likely be a result of anticipation surrounding the potential approval, which would lead to speculation. Subsequent price shifts would be influenced by reactions to any news related to the proposal, whether authentic or misleading.
Furthermore, the most significant price surge might occur upon approval. This would be marked by a combination of institutional investment inflows and the anticipation of a substantial price increase.&nbsp;
<h4>Making a case for the approval or rejection of a spot XRP ETF</h4>
<a href="https://ambcrypto.com/xrp-soars-as-judge-rejects-secs-motion-to-appeal-ripple-ruling/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">XRP</a> stands out among crypto assets for having achieved a degree of regulatory clarity. The clarity is due to its partial victory against the SEC. 
While this could be a compelling point in favor, it also introduces a potential counterargument. 
In 2023, a ruling declared that XRP, at least in part, was not considered a security. However, the SEC has not yet filed an appeal, and additional rulings in the case are pending.
The approval of any spot ETF proposal falls under the jurisdiction of the SEC, and the ongoing case against Ripple may influence their decision.
 Despite the initial ruling, the situation remains dicey for Ripple. Recent events suggest a positive trend, such as <a href="https://ambcrypto.com/how-xrp-matic-were-affected-as-grayscale-rebalances-portfolio/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">XRP’s</a> relisting on major exchanges and its inclusion in the Grayscale Large Cap Fund. 
Nevertheless, it is evident that if a proposal emerges, the path to approval is unlikely to be straightforward.
<h4>XRP continues to trade downward</h4>
Following the ruling on 13th July 2023, <a href="https://ambcrypto.com/is-xrp-poised-to-reach-1/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">XRP</a> experienced a significant rise in price, climbing from around $0.4 to a peak of $0.8. 
Subsequently, the price stabilized around $0.6 for an extended period until it dipped below this range in January.
&nbsp;Read <a href="https://ambcrypto.com/predictions/ripple-price-prediction" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Ripple (XRP) Price Prediction</a> 2024-25
The daily timeframe chart shows a notable decline of over 6% that occurred over two days. 
As of this writing, the Ripple token was trading at around $0.56, reflecting a decline of less than 1%. Despite the slight decline, it marked the second consecutive day of a negative price move.
<div id="attachment_363080" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2024/01/XRPUSD_2024-01-10_08-47-38.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-363080" decoding="async" class="wp-image-363080 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2024/01/XRPUSD_2024-01-10_08-47-38.png" alt="XRP/USD price trend" width="1491" height="785" srcset="https://statics.ambcrypto.com/wp-content/uploads/2024/01/XRPUSD_2024-01-10_08-47-38.png 1491w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/XRPUSD_2024-01-10_08-47-38-300x158.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/XRPUSD_2024-01-10_08-47-38-1024x539.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/XRPUSD_2024-01-10_08-47-38-768x404.png 768w" sizes="(max-width: 1491px) 100vw, 1491px"></a>
 Source: TradingView
</div>

Will an XRP ETF follow Bitcoin ETF approval? Here’s what to expect

AMBCrypto

Other articles published on Jan 10, 2024

Arbitrum Price Prediction: Will ARB Price Fly Above or Crash?

A Bounce Back Occured in the Helium Crypto Price; What Next?

What’s the Next Destination for ETH Price After $2500 Breakout?

Beware of Two Xais: New Project Soars 2700% as Binance Lists Token XAI

AI Identified as Emerging Threat in Cyber Crime by NSA Director

CBOE Approves Invesco’s Bitcoin ETF for Listing

Join our free newsletter for daily crypto updates!