XRP Information Immediately: XRP Below Stress Whereas ETH and SOL Rally on ETFs…

Notably, Grayscale filed a letter with the SEC in response to the keep order, arguing that the company didn’t have the ability to implement it. Nevertheless, the SEC has but to reply publicly to the letter. It stays unclear whether or not Grayscale will pursue authorized motion.

In 2023, Grayscale appealed towards the SEC’s disapproval of a rule change changing the Grayscale Bitcoin Belief right into a spot BTC ETF. The enchantment win led to the eventual launch of US BTC-spot ETFs in January 2024.

Traders had hoped that the approval of BITW and GDLC would expedite the approval of pending spot XRP ETFs. Nevertheless, the keep order leaves XRP in limbo, whereas BTC, ETH, and SOL profit from demand by means of accredited spot ETFs.

ETH gained 1.13% on Sunday, August 17, whereas SOL rose zero.72%. In distinction, XRP pulled additional again from its July 18 all-time excessive of $three.6606.

Traders count on the approval of spot XRP ETFs to be the following main worth catalyst because the SEC vs. Ripple case reaches its conclusion.

XRP Worth Outlook: Spot ETFs in Focus

XRP fell zero.59% on Sunday, August 17, partially reversing the day gone by’s zero.89% acquire to shut at $three.09. The token underperformed the broader market, which rose zero.39%, taking the whole crypto market cap to $three.94 trillion.