XRP Price Jumps 7.5% as SEC Acknowledges Multiple ETF Filings, Brazil Approves Spot XRP ETF

XRP saw a 7.5% price increase on Feb. 20, 2025, hitting $2.71, following key developments regarding its potential for institutional investment.

Key Highlights:

XRP price surged 7.5% on Monday after the SEC acknowledged multiple ETF filings for the cryptocurrency.

The SEC will begin a 21-day public comment period on the filings, followed by up to 240 days for a decision.

Brazil has become the first country to approve a spot XRP ETF, set to launch on the B3 exchange.

Despite the ETF filings, the U.S. market is still awaiting SEC approval, which could take several months.

Ripple's next court deadline is approaching, and the SEC may delay its decision on the XRP lawsuit.

After the SEC acknowledged multiple ETF filings for XRP, indicating potential institutional interest in the cryptocurrency, the price of XRP increased by 7.5% on Monday. The filings, submitted by major asset managers like WisdomTree and Canary Capital, are part of a process that could lead to the creation of a regulated investment vehicle for XRP.

The filings will now enter a 21-day public comment period, during which investors and interested parties can submit their feedback on the proposals. Following the public comment period, the SEC has up to 240 days to decide on the fate of these filings. This lengthy timeline is standard procedure for the SEC when reviewing ETF applications.

While the SEC is taking its time to consider XRP ETFs, Brazil has already stolen a march by approving the country's first spot XRP ETF. The Hashdex Nasdaq XRP Index Fund, which will trade on the B3 exchange, has received the green light from Brazil's financial regulator.

The approval of this ETF is a major development for XRP, as it will give investors the first regulated opportunity to gain direct exposure to the cryptocurrency through an exchange-traded fund. The fund, which is currently in a pre-operational phase, is expected to launch soon.

In contrast to Brazil's swift approval, the U.S. market is still awaiting the SEC's go-ahead for XRP ETFs. Although the SEC has acknowledged filings from entities like Grayscale and CoinShares, the process can be lengthy, taking up to 240 days after the 21-day public comment period. These filings are seen as crucial in setting the stage for XRP's possible inclusion in the U.S. market through ETFs.

Ripple, the company behind XRP, has been in a legal battle with the SEC since 2020, when the SEC filed a lawsuit alleging that Ripple had sold unregistered securities in the form of XRP. This lawsuit has created legal uncertainty surrounding the cryptocurrency, which has affected XRP's price and market performance.

Ripple's next court deadline is set for April 16, 2025, leading many to speculate that the SEC could delay its decision on the case, which might provide clearer direction for XRP's future.

Despite this uncertainty, there is a growing sense of optimism in the market. The acknowledgment of XRP ETF filings by the SEC, along with the approval of the first spot XRP ETF in Brazil, is fueling bullish sentiment. Many investors believe that the approval of these ETFs, along with potential legal clarity for Ripple, could pave the way for greater institutional interest in XRP.

The SEC's review of filings from Grayscale, CoinShares, Bitwise, and other asset managers signals that the regulator is moving closer to providing more structure for the cryptocurrency market. While legal and regulatory hurdles remain, the recent developments have sparked renewed interest in XRP and its prospects.