A new round of filings for an XRP ETF has been submitted to the SEC as Ripple and the SEC settled their legal battle. Seven asset managers, including Grayscale and Bitwise, updated their registration statements on August 23. Nate Geraci sees this as a positive sign for XRP ETF approval.

The filings were submitted shortly after the Ripple-SEC case dismissal by the Second Circuit Court of Appeals. This formal end to the dispute allowed Ripple to move forward without legal concerns. Analysts believe this resolution prompted the rush of updated applications for XRP ETFs.

Bloomberg’s ETF research team estimates a 95% chance of approval for XRP ETFs, with decisions expected by late October. If approved, JPMorgan suggests XRP funds could attract up to $8 billion in inflows during their first year of trading, aligning it with other popular digital assets.

XRP is already reacting positively to the news, trading at $3.03, up over 7% in a day. Federal Reserve Chair Jerome Powell’s comments at the Jackson Hole conference also contributed to the price lift. Many investors see this as a new chapter for Ripple and XRP, with October being a key moment for SEC decisions.

The anticipation for XRP and crypto ETFs remains high, with analysts maintaining a positive outlook on XRP’s price. Despite recent volatility, some analysts still believe in a $10 price target for XRP. The market is closely watching for the SEC’s decisions on the pending filings in October.

Read more at Yahoo Finance: Amended Filings Pile In as Approval Anticipation Grows