XRP (XRP) Price Surge Faces Skepticism From Industry Leaders as SEC Set to Rule on Grayscale's Proposed ETF

The U.S. Securities and Exchange Commission (SEC) is set to rule on Grayscale's proposed XRP exchange-traded fund (ETF) by October

The U.S. Securities and Exchange Commission (SEC) is expected to decide on Grayscale’s proposed XRP exchange-traded fund (ETF) by October, following its listing in the Federal Register last Thursday.

This decision could be crucial for the XRP market as the asset continues to regain prominence in the crypto world. Once overshadowed by regulatory scrutiny, the coin has made a strong comeback, largely driven by political dynamics and its passionate community.

According to analysts, this revival can be attributed to the "Trump trade" and the coin's strong community support.

“XRP is back on the map, thanks to the Trump trade and the rabid XRP army community,” said Trevor Koverko, co-founder of Sapien, in a conversation with TheStreet Crypto.

Growing speculation about XRP's institutional adoption is also boosting its momentum. Reports indicate that Bank of America may be using XRP for internal transactions, highlighting the potential for the token's real-world application.

Moreover, the SEC's acknowledgment of multiple XRP ETF applications has led some to believe that the agency is reconsidering its stance on XRP and may even be dropping its lawsuit against Ripple.

“This could indicate a possible softening of regulatory pressure on Ripple,” said Kadan Stadelmann, CTO of Komodo Platform.

XRP Price Surge Faces Skepticism From Industry Leaders

Despite the optimism, some industry leaders are expressing skepticism about XRP's price movements. Jackson Denka, CEO of Azura, points out that the coin has a history of sharp price surges followed by steep corrections.

“Every cycle, the coin skyrockets in value and subsequently plummets,” said Denka. “Until we see real adoption and actual progress of their blockchain, it is hard to make the claim that this price is sustainable.”

This skepticism stems from the fact that while political winds may currently favor the crypto industry, market dynamics are inherently unpredictable. XRP's ability to maintain its momentum will ultimately depend on its continued adoption, regulatory clarity, and role in financial infrastructure.

In a related development, former President Donald Trump shared an article on TruthSocial that highlighted Ripple Labs' expanding U.S. operations.

The piece, which gained attention in the crypto community, noted Ripple CEO Brad Garlinghouse's comments on increased hiring and a surge in business deals following Trump's potential return to the White House.

notably, the article attributed a 300% surge in the coin's price to Trump's reelection, further cementing the narrative that political developments are shaping the token's trajectory.

Ripple Lawsuit 2025: A Turning Point for XRP

The ongoing legal battle between the SEC and Ripple is a defining issue for the coin. This lawsuit, which began in 2020 and centers on whether XRP is a security, has had واسعة النطاق implications for the digital asset industry.

However, recent actions by the SEC suggest a possible shift in its regulatory approach. During Trump's administration, the agency reportedly paused its lawsuit against Binance for 60 days, leading some to speculate that enforcement actions against major crypto firms are slowing down.

For Ripple investors, this raises hopes that the lawsuit may finally reach a resolution in 2025. While some anticipate a settlement, others caution that the legal battle could continue, given its importance to the broader crypto market.

XRP price today is $2.66, with a 24-hour trading volume of $7.51B. The market cap is $153.07B. XRP's price has decreased by 1.99% over the past 24 hours.

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