SEC Appreciates Canary Capital and Wisdom Tree’s XRP ETF Filings, XRP Price Increases.

Following Brazil’s acceptance of the first position XRP ETF and the U.S. Securities and Exchange Commission’s acknowledgment of numerous XRP ETF papers, XRP rose to the top ten cryptos on Wednesday. &nbsp,

The papers submitted by main asset supervisors WisdomTree and Canary Capital have fueled hope that institutional investors will soon be able to access XRP through a controlled investment vehicle.

XRP is up 7.5 % on the day, trading at$ 2.71 after climbing almost 10 % in the last week, per CoinGecko data.

Following publication in the Federal Register, the files will go through a 21-day public comment period, and the SEC may have a 240 day decision to approve any changes that might affect XRP’s future.

The SEC has previously acknowledged ETF files in the past few months from Grayscale, Binary, CoinShares, and 21Shares, marking a crucial development for the world’s third-largest bitcoin under acting head Mark Uyeda.

The analytics group for B2BINPAY’s crypto payment solution, , explained how they believe XRP hasn’t experienced the same price increase that came after the 21Shares ETF was recognized.

This “poses a chance” that the market is still persuaded to watch this constitutional uncertainty, the team said. ” The very existence of not yet honored SEC’s legal action has been weighing on XRP’s business respect, therefore, we don’t think this gift will break the level of$ 3 anytime soon”.

The SEC’s confirmation is important because it coincides with growing rumors about the XRP’s coming in the midst of the company’s ongoing legal fight with Ripple. &nbsp,

According to Eleanor Terrett, a blogger, the SEC has prioritized police cases involving immediate deadlines, like those involving Binance and Coinbase. &nbsp,

Since 2020, Ripple has been involved in legal action against the SEC, where the regulator has filed a$ 1.3 billion lawsuit against the business, alleging that Ripple has sold unregistered assets under the name of XRP.

Some are hopeful that the SEC does delay its choice on the Ripple event, which may give XRP a clearer way forward, given that Ripple’s future court date is set for April 16.

Brazil has actually defeated the SEC to review the country’s first position XRP ETF, with Hashdex receiving endorsement from Brazil’s financial regulator to release the Nasdaq XRP Index Fund on the B3 trade.

Brazil is the first nation to give clear, controlled exposure to XRP through an ETF, and the market is becoming more and more optimistic as a result.

The B2BINPAY analysis staff told that Ripple’s strongest point is that its foe cryptocurrencies, such as Solana, Litecoin, and Dogecoin, are even waiting for clearances from the SEC.

” When they receive the green light from the watchdog, which we think is exactly what will happen, the wall for XRP ETF may become opened”, they said.