Since Donald Trump’s presidential victory, XRP has surged and broken the $1 barrier. Republican Donald Trump’s election win sets up XRP, Bitcoin (BTC), Solana (SOL), Ethereum (ETH) and other cryptocurrencies for a huge rally.
ETF giant WisdomTree has joined Bitwise and Canary Capital in filing to create an XRP spot ETF, with Bank of New York Mellon serving as the administrator for the proposed trust.
The fleet of bitcoin spot ETFs that made their U.S. debut in January have surged to become some of the fastest-growing ETFs of all-time, boosting the bitcoin price and sparking widespread speculation about the potential for future crypto spot ETFs to fuel price gains.
Ripple’s XRP had languished through the 2021 bitcoin price and crypto market bull run, failing to make major gains as a result of a long-running legal battle with the U.S. Securities and Exchange Commission (SEC).
That war could now be near its end after Gary Gensler, the SEC chair who brought charges against Ripple for XRP sales that it claims amounted to the sale of unregistered securities, said he will quit the agency in January to make way for a U.S. president-elect Donald Trump appointee.
The Securities Exchange Commission (SEC) has scheduled XRP ETF approval once Trump enters Office. You can expect the price in XRP and other cryptocurrencies like Solana, Ethereum and Bitcoin to rise immensely.