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Ripple-owned cryptocurrency XRP has recently become a top-trending digital asset due to key factors that have sparked heated debates. Increased crowd chatter could be a sign of future retail investor enthusiasm.
Featured XRP
Data tracked by crypto market intelligence platform Santiment shows that XRP has received the most attention on crypto social media in recent days.
Santiment said XRP has been thrust into the spotlight following crypto asset management company Bitwise’s recent filing to list and trade shares in the seventh-largest crypto-investing exchange-traded fund (ETF) by market capitalization. He pointed out that he was bathing.
There is no guarantee that the U.S. Securities and Exchange Commission (SEC) will give the green light to the XRP ETF after it clashed with Ripple Inc. in a high-profile courtroom drama that lasted nearly four years.
In fact, Eric Balciunas, a top ETF analyst at Bloomberg, said the chances of the Delaware ETF application being approved are “nearly zero” if Democratic presidential candidate Kamala Harris wins the November election. said.
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Conversely, a victory for pro-cryptocurrency Republican candidate Donald Trump means “anything is possible” for XRP applications, Balciunas said. As you may recall, Trump previously promised to replace crypto-hating SEC Commissioner Gary Gensler, potentially paving the way for ETF approval.
Another reason to spark a wave of engagement within the XRP ecosystem
Santiment cited the SEC’s appeal of the loss against Ripple as another reason why XRP is back in the spotlight.
The Wall Street watchdog filed a notice Wednesday with the 2nd Circuit Court of Appeals, saying it is seeking to appeal the final ruling handed down by U.S. District Judge Annalisa Torres in August.
At this time, it is unclear whether the regulator will object to the summary judgment in July 2023. At the time, Ripple won a huge victory, with a judge declaring that XRP is not a security when sold through an exchange to retail investors.
Fred Rispoli, a prominent lawyer and founder of Hoddle Law, said appeals could drag the case into early 2026. Despite this, Ripple CEO Bradley Garlinghouse has vowed to “fight this issue in court for as long as necessary.”
Santiment revealed that other tokens that have been widely discussed recently include Aptos (APT) and Chainlink (LINK).
