#XRP🚀
XRP ETF Hopes After SEC Appeal Hinged on US Election, Analysts Say#BecomeCreator
XRP holders were optimistic after the first XRP ETF filing was filed, only to see those hopes dashed following the SEC’s appeal. The race is on between Solana and XRP to become the first US altcoin ETF.
XRP ETF Hopes After SEC Appeal Hinged on US Election, Analysts Say
Follow-up
The past week has been a rollercoaster ride for XRP holders. News of the first XRP exchange-traded fund (ETF) filing was followed by the US Securities and Exchange Commission’s (SEC) appeal of its court defeat by XRP issuer Ripple.
Observers could be forgiven for wondering if the two events were connected.
Consider the timeline: Index fund manager Bitwise filed to incorporate the Bitwise XRP
XRP
tickers down
R$ 3.09
ETF in Delaware on September 30, and then filed an application with the SEC on October 2 for the XRP ETF.
The chances of success for the application were considered higher than for other cryptocurrencies such as Solana, especially after Judge Analisa Torrens ruled last year that XRP was not a security in a case against Ripple brought by the SEC.
However, the market excitement was soon tempered on October 2, when the SEC decided to appeal the court’s ruling on Ripple.
XRP’s price action in the market illustrates the emotional rollercoaster that XRP holders have endured. Demand for XRP surged as news of the Delaware filing spread, then plummeted after the SEC's decision to appeal the case against Ripple was announced
