14.02.2025 10:56
**XRP Soars by Double-Digits as SEC Reviews ETF Application**
Propelled by the SEC's acknowledgment of Grayscale's XRP ETF proposal, the digital asset has witnessed a remarkable 12% upswing, lifting it to a current value of $2.76. This surge defies the skepticism and bearish forecasts voiced by Bloomberg analysts, who have speculated on the proposal's low approval probability.
**SEC Evaluates Grayscale's Proposal**
The SEC's formal review marks a significant milestone for XRP enthusiasts. As evidenced by the surge in Bitcoin prices after the approval of its spot ETF, such announcements have historically triggered robust rallies for cryptocurrencies. The acknowledgement, while not a guarantee of approval, paves the way for potential regulatory acceptance.
**Optimism and Cautious Outlook**
Bloomberg analysts, however, have sounded a cautious note, assigning XRP the lowest odds of ETF approval among recent applications. They cite the asset's ongoing regulatory challenges as potential hurdles. Despite this pessimism, the surge in XRP's value indicates that investors are placing greater weight on the SEC acknowledgment than the perceived approval odds.
**Current Market Dynamics**
As of this moment, XRP is trading at $2.74, a 12% gain for the day. Its all-time high, set in January 2018, remains at $3.92. The market's sentiment is a blend of optimism and cautious anticipation as traders navigate the regulatory landscape and the potential implications for XRP.
