XRP is poised for U.S. spot ETF approval in fall 2025, following key futures milestones and new SEC listing standards. A report by Messari, commissioned by Ripple, highlights the SEC's requirement for over six months of futures tracking before an ETP listing. XRP's listings on Coinbase Derivatives Exchange and CME in April and May 2025 have set the stage for this approval. By the end of Q2 2025, XRP's market cap increased by 8.5% to $132 billion, securing its position as the fourth-largest cryptocurrency. The report also notes significant growth in stablecoins and tokenized assets on the XRP Ledger, with Ripple's RLUSD rising 49.4% in Q2. Optimism for a spot XRP ETF approval surged in late August, with multiple filings to the SEC and Bloomberg analysts raising approval odds to 95%, aligning with Ripple CEO Brad Garlinghouse's expectations.