XRP News Today: Legal Shadows and ETF Hopes – Ripple’s Market Forecast

However, progress toward an ETH-spot ETF market remained an XRP tailwind. Speculation about an XRP-spot ETF market could intensify after the launch of the first batch of ETH-spot ETFs.

A crypto-friendly White House could expedite the evolution of a crypto-spot ETF market. Republican Party front-runner Donald Trump continued to voice support for cryptos, highlighting the importance of the US to lead the way.

Notably, Republican Party support for cryptos may have forced the current US administration to reconsider its anti-crypto position. In 2023, Coinbase (COIN) started a crypto awareness campaign called #StandWithCrypto. The #StandWithCrypto campaign stated that 52 million Americans own crypto, a significant pool for votes.

If the current Administration influenced the SEC to U-turn on its position vis-à-vis ETH-spot ETFs, the SEC could face similar pressure to end its rule of regulation through enforcement. Issuers could seize the opportunity and apply for XRP-spot ETFs.

Nevertheless, the ongoing SEC vs. crypto cases remain a focal point and could impact hopes of the crypto-spot ETF market evolving into a multi-coin market.

SEC plans to appeal against the Programmatic Sales of XRP ruling, and the SEC v Coinbase case could decide whether altcoins are securities or commodities. The crypto-spot ETF floodgates could open if the courts uphold the Programmatic Sales of XRP ruling and grant the Coinbase Motion to Dismiss (MTD).