ETF analyst Nate Geraci predicts the approval of a spot-based XRP ETF in the United States this year. Geraci’s prediction has sparked significant interest in the cryptocurrency world. Ripple’s President, Monica Long, also claimed that XRP would be the next cryptocurrency to receive spot ETF approval, following Bitcoin (BTC) 
$93,990 and Ethereum (ETH) 
$3,244.
XRP and the ETF Approval Process
Ripple’s XRP has received multiple applications for a spot ETF. Major companies such as WisdomTree, Bitwise, Canary Capital, and 21Shares have submitted their applications to the U.S. Securities and Exchange Commission (SEC).
Ripple’s CEO, Brad Garlinghouse, has frequently emphasized the inevitability of such a product’s approval over the past year.
However, giants like BlackRock currently show little interest in creating spot ETF products for altcoins like XRP. Despite the company’s success with its Bitcoin-based ETF, there are no immediate plans to offer a product based on XRP. Nonetheless, expectations for XRP’s approval by the SEC are growing stronger.
Can Other Altcoins Surpass XRP?
Geraci also predicts that the SEC will approve several Solana 
$187 (SOL)-based spot ETFs. However, Bloomberg analyst Eric Balchunas believes that spot ETFs based on Litecoin (LTC) or Hedera (HBAR) could be approved before XRP. Balchunas added that Ripple’s ongoing legal challenges with the SEC have increased uncertainties regarding XRP.
With a new crypto-friendly administration potentially entering office, there is hope that the SEC will drop the Ripple 
$3 case. However, such a decision may not mean complete freedom for the cryptocurrency market. Therefore, clarity regarding XRP’s spot ETF approval is still uncertain.
In the cryptocurrency market, especially in the altcoin sector, approval of a spot ETF for XRP is considered a significant milestone. However, the increased competition from other altcoins keeps the approval process surrounded by uncertainty.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
