- Ripple’s XRP cryptocurrency price has skyrocketed since Donald Trump’s election win, fueling speculation about a potential XRP spot exchange-traded fund (ETF)
- Major firms like WisdomTree, Bitwise, and Canary Capital have filed for an XRP spot ETF, with the Bank of New York Mellon as the proposed administrator
- The crypto community expects Trump to appoint a crypto-friendly SEC chair, potentially resolving Ripple’s legal battle with the agency and paving the way for an XRP ETF and Ripple’s IPO
Ripple’s XRP has seen a massive price rally over the past month, fueled by bullish crypto market sentiment. The price gains have led to growing calls for an XRP exchange-traded fund (ETF) that could rival existing bitcoin and ethereum ETFs.
XRP Jumps Over 400% as Crypto Market Surges
XRP briefly became the world’s third-largest cryptocurrency by market capitalization, thanks to a 400% price increase over the last month. The rally brings XRP close to its 2017 all-time high. The gains follow a leaked report predicting a major XRP announcement in December.
The price jump comes amid a broader crypto market surge, which was sparked by Donald Trump’s US election victory. Many believe 2025 could be a breakout year for bitcoin and crypto prices.
Wall Street Pushes for XRP to Get Own Spot ETF
With XRP prices rising, Wall Street firms are lobbying for a Ripple spot ETF. ETF giants WisdomTree, Bitwise, and Canary Capital have all filed for an XRP ETF.
Bank of New York Mellon would serve as the administrator. This comes after bitcoin and ethereum secured approval for spot ETFs in 2022. Those ETFs became some of the fastest growing ever. An XRP ETF could also rapidly attract interest.
Improved Regulatory Outlook Boosts XRP Price
XRP lagged in 2021’s crypto bull market due to Ripple’s legal battle with the SEC over XRP sales. Ripple claims it did not sell unregistered securities.
That case could conclude soon, with SEC Chair Gary Gensler set to depart. His exit raises hopes of a settlement in Ripple’s favor.
Many think President Trump will appoint a pro-crypto SEC Chair, given his blockchain activities. This regulatory clarity has fueled the recent XRP price surge.
XRP Price Could Exceed 2017 High
Some analysts think XRP could top its 2017 record high if the SEC case is resolved favorably. That would remove a major headwind for XRP.
An ETF approval could also boost prices. Trump’s crypto-friendly stance makes a favorable outcome for Ripple more likely. If so, XRP seems poised for massive gains in 2025.
