As the US Securities and Exchange Commission (SEC) takes a step in the right direction, acknowledging XRP ETF applications from multiple asset managers, including CoinShares, Canary Capital, and WisdomTree, one can’t help but think of the wise words: “what a difference four years of litigation and an election can bring” 🤣. XRP lawyer John Deaton reflected on Ripple and XRP’s evolution over the past four years, and it’s a wild ride.
It’s been a rollercoaster for XRP since the SEC lawsuit in 2020. Ripple faced unprecedented challenges, but recent developments, including major court wins and Donald Trump’s re-election, have marked a turning point. Let’s take a look at XRP’s major developments over the period, leading to the SEC’s positive approach to XRP ETFs 📈.
SEC Acknowledges XRP ETFs: John Deaton Weighs In
The SEC’s acknowledgment of XRP ETFs has sent shockwaves of optimism through the Ripple community. In a series of surprising events, the SEC recognized multiple asset manager’s XRP ETFs, fueling excitement. It’s like the whole community is saying, “we told you so” 😏.
Commenting on this bullish development, pro-XRP attorney John Deaton stated, “What a difference four years of litigation and an election can bring.” Via his latest X post, Deaton offered the community a unique perspective on XRP’s transformation over the past few years. It’s like he’s saying, “I told you so” 😜.
According to his remarks, the SEC’s recent move is largely attributed to Ripple’s court wins and Donald Trump’s presidential win in the 2024 election. It’s like the stars have aligned for XRP 🌟.
XRP ETF Acknowledgement: Broader Implications
Major investment firms are vying to launch an exchange-traded fund tracking XRP. The frenzy began when Grayscale proposed converting its XRP Trust into an ETF, prompting CBOE and Nasdaq to file 19b-4 applications. It’s like a game of musical chairs, and everyone wants a seat 🎶.
The SEC’s subsequent acknowledgment of applications from Grayscale, 21Shares, and Bitwise sparked widespread optimism. Most recently, the SEC has also recognized XRP ETF applications from CoinShares, WisdomTree, and Canary Capital, further fueling excitement. It’s like the whole community is on a sugar high 🍰.
Key Factors Influencing XRP’s Journey
Notably, the SEC’s recent XRP ETF acknowledgment has been influenced mainly by two major events: Ripple’s court wins and Donald Trump’s election win. This development boosts optimism, even if it doesn’t confirm a potential green light for the ETF launch. It’s like the community is holding its breath, waiting for the next move 🤔.
The crypto regulator sued Ripple in 2020, alleging the platform violated the federal securities law and raised $1.3 billion by offering unregistered securities. After a long battle, Judge Analisa Torres ruled that XRP in its digital token form is not a security. In a subsequent judgment in August 2024, Judge Torres drew a clear line between Ripple’s retail and institutional sales, declaring the retail sales to be legitimate. It’s like a weight has been lifted off XRP’s shoulders 🙌.
Significantly, this regulatory status has contributed to the SEC’s recognition of the XRP ETFs. As per Deaton’s comments, in addition to this development, Trump’s re-election is another major event that impacted Ripple’s journey. It’s like the perfect storm for XRP ⛈️.
Specifically, Trump’s pro-crypto stance and the SEC’s regulatory shifts have potentially paved the way for a more favorable environment for XRP. It’s like the community is saying, “thank you, Trump” 🙏.
Ripple’s Evolution Since 2020 SEC Lawsuit
Ripple, founded in 2012, had established itself as a leading global payments platform by 2020. But its momentum was halted by the SEC lawsuit. Prior to the lawsuit, XRP remained a major player alongside Bitcoin and Ethereum. The token hit an all-time high of $3.317 in the 2017-2018 bull run, marking a staggering hike of 19,000%. It’s like XRP was on top of the world 🌎.
However, the lawsuit severely affected XRP’s trajectory. Major exchanges like Coinbase, Binance, and Kraken suspended XRP from
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2025-02-20 19:16