Canary Capital’s second XRP ETF filing sparked optimism in the market, with many experts revealing that the investment vehicle could be approved. Meanwhile, Bitwise has just filed its first ETF application of its kind in the U.S. In addition, the latest filing also comes as the U.S. Securities and Exchange Commission (SEC) is appealing the Ripple SEC case, further fueling market discussions.

Is an XRP ETF Launch in the U.S. Inevitable?

Canary Capital’s recent XRP ETF filing sparked market optimism. This is the second consecutive filing after Bitwise filed a similar application earlier this month. The companies’ continued efforts also reflect Wall Street investors’ growing confidence in Ripple’s native cryptocurrency.

Meanwhile, Nate Geraci, president of the ETF Store and a well-known figure in the ETF space, expressed optimism when commenting on the approval. According to Geraci, approval could come soon, but it still depends on one key factor.

His confidence in a possible launch is reflected in the statement, “Another XRP ETF application. Approval is a matter of when, not if.” However, he added that this “when” depends on a change in government. In other words, he echoed the views of many who believe that a change in the US presidential and SEC administration will help the crypto space grow.

Nate Geraci XRP ETF

Meanwhile, many in the crypto community have slammed SEC Chairman Gary Gensler for over-regulating the crypto space. That being said, Geraci also seemed confident that a Ripple ETF could be launched if there is a change in management at the SEC.

Additionally, a large number of investors and cryptocurrency market enthusiasts anticipate a Donald Trump victory to promote innovation in the digital asset space. For example, the former US president’s recent shift in focus towards cryptocurrencies has attracted significant attention from market participants.

Will Ripple’s SEC Case Hinder Its Potential Launch?


The latest appeal by the U.S. Securities and Exchange Commission (SEC) against Ripple’s SEC case has affected some investor sentiment. Traders expect the ongoing legal battle to last longer after the recent appeal. In addition, Ripple’s Chief Legal Officer Stuart Alderoty also said that the company may consider appealing the case.

Yet, despite this, many in the Ripple community still seem confident about the possibility of an XRP ETF launching in the U.S. For example, pro-XRP attorney Bill Morgan praised Canary Capital’s application for an investment vehicle in a recent X post. One user commented under his post, wondering if these applications are serious or just “messing with the SEC” in light of the recent appeal.

In response, Morgan said that fraud by the SEC is normal in the cryptocurrency field, especially after the agency was severely criticized in the digital asset field. On the other hand, Ripple CEO Brad Garlinghouse also expressed confidence in the matter. In a recent X post, he shared an update that read "It happened again."

Brad Garlinghouse XRP ETF

Meanwhile, it is worth noting that Brad Garlinghouse has previously expressed confidence in the possibility of an XRP ETF launching in the U.S. With this in mind, the XRP community remains confident in the potential launch of an ETF, despite some concerns raised by the latest developments in the Ripple SEC war.

What’s next for XRP price?

XRP price rose nearly 1% today and is trading at $0.5301, while its trading volume fell 25% to $863.39 million. Notably, the cryptocurrency’s 24-hour high was $0.5341 and its low was $0.5216. Additionally, XRP futures open interest remained near the flat line, suggesting that investors are waiting for further clarity before betting on the cryptocurrency.

The recent SEC appeal seems to have affected investor sentiment. The cryptocurrency briefly surpassed the $0.66 mark but fell to current levels following the appeal. Now, the market remains on edge as anticipation soars over a possible settlement and cross-appeal in the Ripple vs. SEC case.

However, a former SEC lawyer recently pointed out that the chances of Ripple reaching a settlement with the SEC are slim, citing several reasons. Despite this, many top market experts remain bullish on cryptocurrencies, especially the recent Ripple ETF listing application. For example, recently, an analyst suggested that the price of Ripple could rise to $3 before Christmas, which sparked market optimism.