SEC Fuels Excitement by Approving Grayscale’s Crypto ETF

Key Points

1. The SEC approved Grayscale’s multi-cryptocurrency ETF on July 1, 2025, including Bitcoin, Ethereum, Solana, Cardano, and XRP.

2. This ETF is expected to become the largest multi-cryptocurrency ETF globally, setting a precedent for future individual spot ETF approvals.

3. Following the approval, XRP overcame resistance at $2.19–$2.20, with potential targets at $2.25, $2.32–$2.35, and beyond if support holds.

4. Analyst Casi Trades noted selling pressure at $2.30 but highlighted XRP’s ability to maintain the $2.18–$2.16 range, with further downside risks if broken.

5. An individual spot ETF approval for XRP could drive its price to $3 or higher, indicating significant market potential.