Reasons Why June 17 Could Change Everything with XRP and Ripple

A major decision regarding the XRP ETF will be made tomorrow (17 month 6). With Ripple pushing for a legal resolution and the SEC preparing to decide on Franklin Templeton's ETF filing, XRP could be ready for a parabolic move if things go in its favor. The approval rate for the XRP ETF is strong at 88%. The approval rate for the XRP spot ETF on Polymarket surged to 98% in June and has slightly decreased to 88% this week. The SEC is expected to announce its decision on Franklin Templeton's XRP spot ETF tomorrow, June 17. This could be a major turning point for XRP and the cryptocurrency market as a whole. Another delay? Bloomberg analysts currently predict an 85% chance that the XRP ETF will be approved this year. Leading companies like Bitwise and Grayscale are also awaiting approval. Grayscale's decision on the XRP ETF is expected to be made on October 18, while ProShares has requested a final decision by June 25. If approved, the SEC will not be able to delay ProShares' ETF after that date. Bloomberg's ETF analyst James Seyffart stated that the recent delay of the XRP ETF is normal and not surprising. The SEC typically takes the full time to review, with most final decisions expected in October. He also mentioned that even with a cryptocurrency-friendly SEC, early approval would be "out of the ordinary." The approval of the XRP ETF depends on important legal updates. Nate Geraci, President of Crypto ETF Store, explained how cryptocurrency ETFs are rapidly developing with staking, physical redemption, and upcoming altcoin ETFs. Ripple and SEC submitted a second joint motion on June 12, requesting Judge Torres to lift the ban on selling XRP to institutions and reduce the $125 million fine. Legal experts are closely monitoring. While some believe that Judge Torres may approve this move on June 19, others remain cautious. Cryptocurrency advocates like John Deaton argue that this move has a 70% chance of success, while Bill Morgan warns that the court may oppose it again. The approval could pave the way for a spot XRP ETF, with the timeline of Franklin Templeton being closely watched. However, with the ongoing legal battle, the SEC may delay its decision. XRP is currently trading at $2.23, up 3.2% in the past 24 hours. With legal clarity and the approval of the ETF, a major breakthrough may be imminent for XRP. However, any delays or failures could lead to a short-term sell-off.