-
The bull-case for XRP now is driven by three key elements: ETF filings (exchange traded funds), corporate adoption and utility.
-
The SEC is expected to make a key decision on Franklin Templeton’s spot XRP ETF on June 17.
-
Weebis, a NASDAQ-listed company, has announced a $300M XRP treasury.
XRP has the makings of a breakout due to a combination of key drivers. These include: growing institutional interest in a spot ETF; increasing adoption as a corporate treasury investment; and expanding real-world utility for global payments.
Analysts are gaining traction with this multi-faceted XRP bullish hypothesis, even though the token trades within a stable range. At the time of publication, XRP was trading at $2.25 or less, with a $132.5 billion market cap. However, a closer look reveals that there are several major catalysts in the near future.
XRP ETFs – SEC to make key decision as major firms line up
The potential approval of a spot XRP-based ETF in the U.S. is generating excitement. On June 17, the US Securities and Exchange Commission will announce its decision regarding Franklin Templeton’s XRP ETF application. According to prediction platform Polymarket’s odds, an XRP-based ETF will be approved in 2025.
Franklin Templeton has filed one of the first Bitcoin ETF applications through the CBOE BZX. The same exchange has facilitated ETF approvals in recent months, giving XRP more weight.
In the past, the SEC had postponed similar requests, such as those for Bitcoin or Ethereum. The analyst does note that the SEC has adopted a more crypto friendly posture since the appointment of Paul Atkins to the position of SEC chair.
Other major asset managers such as Bitwise, Grayscale ProShares 21Shares and WisdomTree also filed XRP applications. XRP is the most sought-after altcoin in terms of ETF exposure due to the volume of applications.
Related Nasdaq-listed VivoPower Bets $100 Million on a Yielding XRP Treasury
Corporate Treasuries: XRP is a strategic asset that goes beyond ETFs
Parallel to the ETF narrative is the growing interest of corporate treasuries in XRP. In a move similar to Strategy’s Bitcoin strategy institutional interest in XRP has gone beyond ETFs
Weebis, a Chinese AI mobility company listed on NASDAQ recently announced a $300,000,000 XRP reserve modeled off MicroStrategy’s Bitcoin strategy.
Related Ripple Confirms ONDO’s OUSG Fund Backed by BlackRock’s BUIDL is Live on XRP Ledger
Hyperscale Data, a US-based company, is also planning to invest $10 million in XRP. It also aims to launch an XRP lending platform for NYSE listed companies in Q3 of 2025.
Ripple’s cross-border payments network expands.
The XRP Ledger is a powerful tool that has been growing in real-world applications. XRP is now used to power real-time cross border payments through partners such as MoneyGram and Tranglo. Tranglo’s SME transactions have increased by 1,729% since Ripple 2021 invested.
XRP’s regulatory approvals are a significant addition to its strong narrative. In the UAE, XRP was the only digital currency approved by the Dubai Financial Services Authority for use in global funds transfers. Ripple also plans to launch a sidechain compatible with Ethereum to bring DeFi functionality to XRP Ledger.
This site is for entertainment only. Click here to read more
