XRP, the third-biggest cryptocurrency, has seen increased demand from retail and institutional investors lately.
XRP price has lost some momentum recently and crashed from this month’s high of $3 to $2.20. This trend may soon end if the U.S. Securities and Exchange Commission (SEC) moves ahead and approves the 16 spot Ripple ETFs that have been applied for.
These ETFs have been largely applied for by Bitwise, Grayscale, Canary and Fidelity, among other Wall Street companies. The crypto exchange and defi protocols are also planning to launch their own ETFs if the agency grants approval.
The probability of these ETFs has been massively increasing in the past few months, surging from 59% in January to 85% today. These odds have remained elevated after the SEC ended its
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