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The US Securities and Stock Exchange Committee (SEC) has officially recognized the receipt of the 19B-4 files for Grayscale Investments to convert XRP confidence into a trading box (ETF). The Agency's assertion – which was housed by the Bloomberg analyst ETF James Sevart on February 14 – is concerned with the beginning of the official review process that could eventually decide whether the product was wiped for the general inclusion.
James Sevart, from I mentioned The news stated on his X account: “There-SEC just recognized Grayscale & Nys' 19B-4 to insert ETF XRP (this was mostly expected but it means officially that the time will start soon for this and Dogecoin).”
Why is this “enormous message” for ripples
SEC's approval begins in an organizational schedule, opening a window for public comment and multiple decision -making tours. The agency is expected to follow this step by step either for approval, rejection or requesting additional information about the proposed XRP ETF.
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Although the official approval does not guarantee the approval of more line, it confirms that SEC is working adequately to place the deposit on the official menu. Nate Girassy, head of the ETF store and co -founder of the ETF Institute, stressed the importance of this procedure in the context of SEC's continuous legal conflict with Ripple.
He pointed out: “SEC has confessed to NYSE 19B-4 files to the XRP ETF list and trade … It is clear that a possible major statement: SEC case against Ripple.” Girassi as well I put On what it considers a remarkable development: “More people did not talk about the acceptance of SEC from the XRP ETF deposit … they have open claims with ripples. At the same time, they just approved the submission of Etf Holding assets in the conflict (they can easily reject this deposit). A huge message. Imo.
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This data highlights how SEC can indicate the start of the review process – instead of refusing it directly – to the opening of SEC to a settlement or removal of the ripples that are currently in the Court of Appeal.
Fox Business Eleanor Terit journalist available An additional context on the reason for noticing the declaration alone: “Because this means that this is SEC more open and do not refuse to think about these products. I remember, the exchanges of SOL 19B-4 were withdrawn in December when Gensler SEC indicated that it will not deal with them. (.. .) Then, SEC should recognize XRP ETF applications from the two sources who later presented from gray – including BitWise, 21shares, Canary Boxes, Wisdom Tree. It is within two days from now.
After this announcement, the XRP price increased by more than 5 % in a relatively total market. However, the technical analysis of the XRP/USDT scheme for 4 hours indicates that from the time of the press, the distinctive symbol failed to penetrate the main resistance level. Rejection occurred when 0.5 Fibonacci (FIB) spread about $ 2.58. If buyers can pay XRP above this threshold, the following critical resistance approaches $ 2.77 (0.618 FIB). A continuous gathering behind this point can see that the distinctive symbol is re -tested on January 25 at $ 3.40.
Distinctive image created with Dall.e, Chart from TradingView.com
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