The US Morning Crypto News Briefing delivers the essential updates on the latest developments in the crypto sector for the day ahead. As investors prepare to delve into the nuances of the market, attention turns to the Ripple price and the increasing likelihood of approval for XRP ETFs (Exchange-Traded Funds) in the United States. These financial tools provide investors with indirect access to cryptocurrencies and are gradually drawing institutional players into the digital asset landscape.

The crypto market remains buoyant following the announcement of Paul Atkins's appointment as the chair of the US SEC (Securities and Exchange Commission). There is significant anticipation surrounding the implications of his appointment for the crypto industry, especially after a period marked by stringent regulatory measures under his predecessor, Gary Gensler. Following favorable rulings in legal cases against crypto companies and the reversal of certain restrictive banking regulations, the market eagerly anticipates further developments.

One such development is the potential establishment of a Strategic Bitcoin Reserve, positioning the US as a global leader in Bitcoin. Meanwhile, ETF analyst Eric Balchunas has reached out to Paul Atkins for insights regarding the timing of the US SEC's approval for the first spot XRP ETF, along with other alternative coin-based financial instruments. Balchunas and his colleague James Seyffart maintain optimism that the approval of additional altcoin-related ETFs beyond Ethereum is imminent.

According to Balchunas, the XRP ETF holds an 85% chance of approval, placing it at the forefront of regulatory considerations for 2025. He has also provided a detailed list outlining the approval probabilities for various spot crypto ETFs. Seyffart emphasizes that delays in approvals should not be unexpected, encouraging market participants to remain hopeful even beyond October 2025 in the worst-case scenario. However, Balchunas acknowledges that Atkins's confirmation as the new SEC chair has initiated progress.

Crypto traders and investors anticipate the introduction of more altcoin-based exchange-traded funds, which could enhance the credibility of cryptocurrencies, facilitate institutional involvement, and increase liquidity. Recent reports suggest growing adoption of BTC over gold, attributed to rising inflows into Bitcoin ETFs contrasting with stagnant gold ETPs (Exchange-Traded Products).

These developments follow false rumors circulating about the US SEC's approval of an XRP ETF. BeInCrypto debunked these claims, stating that only leveraged and short XRP futures ETFs were authorized to trade starting April 30. Despite the misinformation, the approval of ProShares’ XRP futures ETF has generated optimism, with experts predicting the potential approval of a spot XRP ETF, which could attract $100 billion to the payment token.

Analysts note that such an approval could drive the XRP price up by nearly 50%, potentially reaching the $3.40 mark. Some also suggest that XRP could surpass Ethereum in terms of market capitalization. A chart from Polymarket indicates that bettors see a 45% probability of the US SEC approving XRP ETFs in the US by July 31. Another chart from Polymarket reveals that bettors estimate an 80% chance of the US SEC approving XRP ETFs in the US before the end of the year or within 2025.

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