XRP News: Analyst Predicts $8 Target as ETF Approval Speculation Grows

Speculation around a potential spot XRP ETF approval in the United States has intensified, leading to increased trader interest and analysis of the cryptocurrency's next move. One analyst, CoinsKid, has identified a complex expanded flat correction in XRP's price action since December 2024, suggesting a possible price surge in the NEAR future.

XRP Price Analyst Targets $8 as ETF Approval Speculation Intensifies

XRP’s price is trading 8% above its $2.26 lows reached on Feb. 7, up 2% over the last 24 hours. With increasing hopes of a spot XRP ETF approval in the United States, traders are closely analyzing its next potential move. A crypto analyst, CoinsKid, explained that XRP price action is undergoing a complex expanded flat correction since December 2024, and the price is nearing the final leg of a critical wave structure, which could result in an eventual correction.

Ripple CEO Brad Garlinghouse Reacts to SEC Acknowledging XRP ETF Proposal

Ripple CEO Brad Garlinghouse has responded to the SEC's acknowledgment of Grayscale's application to convert XRP into an ETF, calling it an 'inevitable' development. Garlinghouse has long predicted that a spot XRP ETF would be approved in the U.S., despite initial doubts. Ripple President Monica Long also expressed confidence in XRP's chances for spot ETF approval. Analyst Nate Geraci noted that the SEC's consideration of the product, amidst ongoing litigation with Ripple, sends a significant message about XRP.

SEC Acknowledges Grayscale's XRP ETF Filing, Signaling Potential Breakthrough for XRP

The SEC has officially acknowledged Grayscale's filing to convert its XRP trust into an ETF, marking a significant potential breakthrough for the token. Leading ETF analyst Nate Geraci believes the SEC has sent an 'enormous message' about XRP through this acknowledgment. However, it's worth noting that the agency remains in litigation with Ripple, the company linked to XRP. Grayscale launched its XRP trust in September, offering investors simple access to the controversial token.

Grayscale's XRP ETF Moves Forward as SEC Officially Acknowledges 19b-4 Filing

The U.S. Securities and Exchange Commission (SEC) has officially acknowledged Grayscale’s 19b-4 filing, marking a crucial step toward converting the XRP Trust into an exchange-traded fund (ETF). This acknowledgment signals a shift in the regulator’s stance toward crypto ETFs, unlike outright rejections seen in the past. Grayscale has operated its XRP Trust for years, similar to its Bitcoin and Ethereum trusts, and is now seeking to convert it into an ETF.