Bloomberg analysts view the amended filings as a positive sign, estimating a 95% chance of approval by October.
Multiple asset management firms have updated their applications for a spot XRP exchange-traded fund (ETF). This development occurred on August 22, coinciding with the final dismissal of the long-running legal case between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). The seven issuers include Bitwise, Canary, Coinshares, Franklin Templeton, Grayscale, WisdomTree, and 21Shares.
Bloomberg ETF analyst James Seyffart stated that these amended S-1 filings were likely submitted in response to comments from the SEC. He described this activity as a good sign for the approval process.
Nate Geraci, co-founder of the ETF Institute, also noted the cluster of filings, viewing it as a positive development. This regulatory progress follows the Second Circuit Court’s approval of a joint motion to dismiss all claims in the Ripple-SEC case.
Concurrently, the CME Group’s XRP futures market reached record trading levels. Market observers often view this activity as a precursor to spot ETF approval. Bloomberg analysts currently estimate a 95% probability of an XRP ETF receiving approval by October. This sentiment is reflected in options markets, where traders are actively purchasing bullish contracts targeting a $4 price for XRP by September and December.
Meanwhile, large XRP holders have not engaged in significant selling. Following a 7% price increase from $2.7 to $3.1, on-chain data shows these investors moved holdings away from exchanges instead of liquidating.
This accumulation trend suggests anticipation of further price appreciation, potentially driven by the evolving regulatory landscape and ETF prospects. The market now watches for the SEC’s next decision.
XRP (Ripple) is trading at $3.017 USD, showing a minor intraday loss of -1.55%, but still holding firm above the $3.00 psychological support zone.
The market recently reacted to the confirmed settlement between Ripple and the U.S. SEC, effectively concluding a years-long legal battle. This resolution triggered a surge in price from sub-$2.80 to a local high of $3.10, followed by minor retracement as traders locked in short-term gains.
Technically, XRP’s momentum remains strong despite recent consolidation. While oscillators show a short-term cooling (neutral to light sell), the broader trend still leans bullish.
The RSI is stabilizing around 60, indicating that the asset is neither overbought nor oversold, and the MACD shows mild bullish continuation. Daily volume is substantial, at over $10.1 billion, suggesting institutional and retail engagement remains high.
The latest updates today confirm that institutional demand for XRP-linked investment products remains strong, despite ongoing delays in U.S. SEC decisions on spot XRP ETFs.
Multiple asset managers, including Bitwise, 21Shares, and CoinShares, continue to push for ETF approvals, signaling high institutional conviction. ETHNews analysts suggest that a green light from regulators could trigger a major capital influx into XRP markets, similar to Bitcoin and Ethereum ETF inflows earlier this year.
Current development efforts are focusing on expanding DeFi integration and native stablecoin issuance on XRPL, aiming to diversify ecosystem utility beyond remittances. Moreover, discussions around CBDC partnerships with central banks in Asia and Latin America continue to elevate XRP’s strategic positioning as a bridge asset for sovereign digital currencies.
On the financial side, whale accumulation trends indicate that institutional wallets have increased their XRP holdings by over 2% in the last 30 days, reinforcing long-term bullish sentiment.
