Ripple’s XRP $10 Price Explosion Beckons As Spot XRP ETFs Get Closer And Closer To Reality

XRP is back in the spotlight, now trading hands at just under $2.30. Investors remain bullish as excitement builds over a potential U.S.-listed spot XRP exchange-traded fund (ETF) going live in the near future.

The US Securities and Exchange Commission (SEC) is now evaluating whether a proposed XRP ETF by WisdomTree offers adequate investor protection and safeguards against manipulation. The fund would be a major step toward broader institutional access and legitimacy for the Ripple-affiliated crypto if approved.  

SEC Initiates Review Of WisdomTree’s XRP ETF Proposal

According to a May 27 notice published by the U.S. Securities and Exchange Commission, has started reviewing the WisdomTree XRP Trust. This marks the first formal review of a U.S.-based spot XRP ETF by the Commission.

The SEC now has up to 240 days to approve or reject the ETF filing that would allow investors to gain exposure to XRP without having to hold or store the token themselves. The investment vehicle would track XRP’s market price via the CME CF Ripple-Dollar Reference Rate.

If greenlighted, the WisdomTree XRP Trust would be the first American spot XRP market ETF — a watershed that could unlock the door for similar vehicles based on other altcoins. The Commission is now looking for public comments on whether the ETF’s design satisfactorily addresses concerns related to market manipulation and investor protection.

XRP ETF To Propel Price To $10?

Besides WisdomTree, a bevy of other investment managers, including Franklin Templeton, 21Shares, Bitwise, and Grayscale, have all applied with the SEC to introduce XRP ETFs in the U.S. This comes as a new Trump-Vance administration has rolled into Washington, which has taken a more lenient approach to crypto.

The SEC itself has also turned a new regulatory leaf following former SEC Chairman Gary Gensler’s departure in January, dropping most of the high-profile cases lodged during the Biden era.

Bloomberg senior ETF analysts forecast an 85% chance of spot XRP ETF approval after the change in leadership at the SEC.

The price of XRP is trading lower by 3.4% over the past 24 hours to $2.26.

Approval of spot exchange-traded funds could unlock institutional capital, amplifying demand for XRP and potentially propelling prices toward $10. Some analysts even believe the XRP price could hit the elusive $100 threshold if prominent players like BlackRock and Fidelity jump into the ring.