The recent filing for an XRP ETF by Canary Capital has ignited optimism in the cryptocurrency market, with experts weighing in on the potential approval chances for this investment vehicle. This development follows closely on the heels of Bitwise’s initial filing for a similar ETF in the United States. The timing is particularly noteworthy as it coincides with the SEC’s appeal in the ongoing Ripple case, fueling further discussions within the crypto community.

The prospect of an XRP ETF launch in the US appears increasingly likely, according to industry insiders. ETF Store President Nate Geraci, a respected voice in the ETF space, expressed confidence in the eventual approval, stating it’s a matter of “when, not if.” However, he noted that the timeline may hinge on changes in the political landscape, specifically in the administration overseeing financial regulations.

The crypto community has been vocal in its criticism of SEC Chair Gary Gensler’s approach to regulating digital assets. Many anticipate that a shift in SEC leadership or a potential change in the presidential administration could pave the way for more crypto-friendly policies, including the approval of an XRP ETF.

While the ongoing Ripple vs SEC legal battle continues to cast a shadow over XRP, with recent developments including the SEC’s appeal and Ripple’s consideration of a cross-appeal, the XRP community remains largely optimistic about the ETF’s prospects. Pro-XRP lawyer Bill Morgan and Ripple CEO Brad Garlinghouse have both commented positively on the recent ETF filings, viewing them as significant steps forward.

The XRP price has shown resilience in the face of these developments, trading around $0.53 with moderate volatility. Market analysts remain divided on the short-term outlook, with some predicting potential rallies while others caution about the impact of ongoing legal uncertainties.

As the crypto industry watches closely, the possibility of an XRP ETF launch continues to generate excitement and speculation. The outcome could have far-reaching implications for XRP’s adoption and the broader acceptance of cryptocurrency investment products in traditional financial markets.