Major XRP ETF decision coming on June 17
June 17 is expected to be a crucial decision point regarding the XRP ETF. Ripple is actively pushing for a legal settlement with the SEC, while the regulatory agency is expected to make a decision on Franklin Templeton's ETF application. If the outcome is favorable, XRP could experience a parabolic breakout, creating a strong bullish effect on the cryptocurrency market.
The probability of XRP ETF approval is up to 88%
Expected market updates
The application deadlines for XRP ETFs from managers like Grayscale, Franklin Templeton, and Bitwise are approaching. According to data from the prediction market Polymarket, the probability of XRP ETF approval rose to 98% in June, then slightly decreased to 88% this week. This event has sparked great expectations for XRP to receive approval from the SEC soon.
Important decision day
The SEC is expected to make a decision on Franklin Templeton's XRP ETF application on June 17. This could be a pivotal moment that profoundly impacts the future of XRP and the entire cryptocurrency market.
Another delay?
Analyst predictions
Bloomberg analysts predict an 85% chance of XRP ETF approval this year. Major players like Bitwise, CoinShares, and Grayscale are awaiting the results to launch XRP-based ETF products. According to the proposed schedule, Grayscale's final decision could come before October 18, while ProShares seeks a final decision on June 25. If approved, the SEC will not be able to delay ProShares' ETF any further after this deadline.
Market outlook on potential delays
Bloomberg ETF expert James Seyffart stated that the recent delays of XRP are normal and not surprising. The SEC usually takes enough time for thorough consideration, and most final decisions are expected in October. Even in a context where the SEC is more crypto-friendly, early approval remains rare and uncommon.
Behind the XRP ETF decision: Key legal updates
At the same time, legal factors have a significant impact
Nate Geraci, President of Crypto ETF Store, noted that the cryptocurrency ETF sector is growing rapidly, along with staking services, in-kind redemptions, and upcoming altcoin ETFs. In the lawsuit related to Ripple, both Ripple and the SEC have filed motions requesting the court to lift the ban on selling XRP to financial institutions and reduce the $125 million fine. Legal experts are closely monitoring this development.
Legal future and impact on ETFs
Some crypto-supporting lawyers predict that Judge Torres may approve this request on June 19, while other experts warn that there is still a possibility of delay. If approved, this opens up the possibility of XRP having a spot ETF, especially related to Franklin Templeton's deadline. However, the prolonged legal battle could cause the SEC to postpone an official decision.
Market scenarios and XRP price predictions
Currently, XRP is trading around $2.23, up 3.2% in the past 24 hours. Thanks to legal clarity and the potential for upcoming ETF approval, a breakout growth trend may be on the horizon. However, any delays or legal risks could temporarily cause the market to adjust downwards, creating attractive short-term investment opportunities.
Summary and predictions
The future of XRP almost depends on the SEC's decision on June 17. If ETF approval is successful, XRP could trigger a strong breakout, attracting attention from institutional and individual investors. Meanwhile, legal factors and potential delays remain significant challenges. The cryptocurrency market is on alert, waiting for clear signs to determine the long-term trend.
Source: https://tintucbitcoin.com/tuong-lai-xrp-phu-thuoc-ngay-17-6/
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