Jeremy Hogan announced that the SEC's decision on the XRP exchange-traded fund (ETF) application could be delayed until 2025. Pro-XRP$XRP
Hogan, the lawyer for the court, said that applications can usually take six to 12 months to process and that if the appeals process progresses normally, a decision could be made by the summer.
Bitwise Asset Management attracted attention in October when it filed an XRP ETF application with the SEC. The company’s Chief Investment Officer Matt Hougan emphasized that their application reflects confidence in the potential of XRP. “We only file applications that have a high probability of being approved,” Hougan said. This statement, combined with Ripple’s $1 regulatory victories, has created positive expectations for the future of XRP.
The future of XRP is being shaped by Ripple’s victories in its legal battle with the SEC. The SEC’s 2020 lawsuit against Ripple was based on claims that XRP was sold as an unregistered security. However, court decisions have favored Ripple and invalidated most of these claims. This process has allowed XRP’s regulatory status to be clarified, while also paving the way for an ETF application. Jeremy Hogan noted that following Ripple’s legal victories, clarification of XRP’s regulatory status could speed up the ETF approval process.
Ripple’s legal victories have also increased XRP’s market volatility. The XRP price recently rose by 7.28% to $1.14. Crypto analysts predict that XRP is likely to experience a parabolic rise after hitting a three-year high.
XRP’s recovery from regulatory uncertainty and progress towards ETF approval is increasing investor interest. The ETF application and legal battles with the SEC could have a significant impact on XRP’s future performance. Investors should closely monitor developments between Ripple and the SEC.
