Four XRP ETF Applications Submitted to the SEC – Could This Lead to Record Highs for XRP?

XRP has decreased by 3% over the last 24 hours, dropping to $2.36 as the market continues to struggle amid concerns regarding global trade.

Currently, XRP is down 23% over the past week; however, it remains one of the top-performing major tokens of the last year and has some very optimistic long-term price forecasts.

Today’s movements occur as Bitwise, 21Shares, WisdomTree, and Canary have all submitted 19b-4 filings to introduce their own XRP ETFs, providing the SEC—if it acknowledges receipt of these filings—with 240 days to either approve or reject the proposals.

If the regulator grants approval, these ETFs could potentially drive the XRP price to new heights later this year, as institutions begin to invest in the coin.

XRP Price Analysis – What’s Next for XRP?

The submissions from these four firms indicate that there are now nine pending applications for XRP ETFs, with Grayscale, CoinShares, and ProShares having made earlier filings.

In all likelihood, nothing
As of February 6, 2025, the following XRP ETFs have been filed for:
– **Bitwise XRP ETF**
– **Canary XRP ETF**
– **21Shares XRP ETF**
– **WisdomTree XRP ETF**
– **ProShares XRP ETF**
– **Rex & Osprey XRP ETF**
– **CoinShares XRP ETF**
– **Tuttle Capital…

— {Matt} $XRPatriot (@matttttt187) February 7, 2025

This is encouraging as it reflects a belief among the applicants that there is genuine market demand for XRP ETFs, and that institutions may be inclined to purchase shares in such funds if they are listed.

Moreover, given the recent shift in the political landscape in the US, there is a significantly higher probability that most or all of these applications will receive approval.

Indeed, the past week has seen the SEC approve Bitwise’s joint Bitcoin and Ethereum ETF, highlighting the more lenient approach the regulator appears to have adopted towards cryptocurrencies in recent months.

This is a positive sign for the potential XRP ETFs mentioned above, which could have a similar impact on the altcoin’s price as Bitcoin’s ETFs did for its value back in January of last year.

However, for the moment, XRP remains in a state of uncertainty, with its chart today showing some indications that the coin may be poised for a rebound soon.

Source: TradingView

Its 30-period moving average (orange) fell below the 200-period average (blue) a few days ago, signaling an impending selloff but also suggesting that a bottom is not far off.

With XRP’s RSI (purple) also reaching a low on February 3, the coin’s price could potentially return to $2.50 in the coming week.

It is then expected to rise to $3 during Q2, with favorable ETF news propelling it higher.

New Altcoins Present High Potential for Market-Beating Gains

XRP could surge if its ETFs receive approval, but it may continue to fluctuate over the upcoming weeks as the market adjusts to the impending trade conflict between the US and some of its trading partners.

Nonetheless, one way to navigate negativity is to diversify into new coins that may be listed for the first time soon, thereby potentially yielding significant gains.

One of the most promising new coins set to launch is Solaxy (SOLX), a Solana-based token that has now raised $18.4 million in its popular ICO.

Solaxy is preparing to introduce Solana’s first-ever layer-two network, which will assist Solana users in avoiding common issues such as failed transactions, network congestion, and outages.

Its L2 will also offer very low fees, rapid transactions, and instant bridging between itself and Solana, as well as other chains.

SOLX will serve as Solaxy’s native token and will be utilized for transaction fees, potentially driving high demand.

Investors interested in participating in the sale can do so through its official website, where SOLX is currently priced at $0.001628.

This price will increase again in less than 48 hours, so investors should act promptly before it’s too late.

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