Analyst Armando Pantoja predicts an 81% chance of XRP ETF approval within the next year, arguing that it would not only drive institutional demand but also validate that XRP is not an illegal security.

Brazil's financial regulator has approved the world's first spot XRP ETF, managed by Hashdex, while similar products await approval in other markets including the United States.

It is the lowest prediction of the four filings reviewed by the Bloomberg ETF analysts. Litecoin (LTC) led with approval odds of 90%, followed by Dogecoin (DOGE) at 75%, and in third place, Solana (SOL) at 70%.

The SEC is reviewing ETF applications and proposed rule changes at various exchanges for alternatives to bitcoin and Ether. Approval for some may be likely, but whether investors want the options is a question.

The agency said in a filing Thursday that it was acknowledging an application to list an exchange-traded fund tracking the token.

Ripple (XRP) is trading at $2.45. The cryptocurrency community is on hype with anticipation as XRP stands on edge of developments. The potential approval of XRP-focused exchange-traded funds (ETFs) and a favorable resolution to the ongoing SEC lawsuit could serve as substantial catalysts for price appreciation.