The United States Securities and Exchange Commission (SEC) has acknowledged Grayscale's application to convert its XRP Trust into a spot exchange-traded fund (ETF). This move suggests a more open approach from the SEC towards crypto ETFs under the new pro-crypto administration. If approved, other asset managers like Bitwise and WisdomTree may also file for similar ETFs. Ripple CEO Brad Garlinghouse commented on the development, stating that he had predicted this outcome. The news has led to a 3.67% increase in XRP's price, with the next major resistance level at $3.00. The Relative Strength Index (RSI) suggests neutral momentum, while the Moving Average Convergence Divergence (MACD) remains slightly bearish, but a sustained price surge could indicate a bullish trend in the future. It is important to note that this summary is for informational and educational purposes only and does not constitute financial advice.



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