- XRP maintained a steady pullback after reaching the $3.66 all-time high in July.
- ETF approvals are the next major events that could trigger a potential XRP price rally.
- Analysts predict a historic rally for XRP following a potential influx of institutional investors
XRP has been consolidating for three months since hitting an all-time high of $3.66 on July 18, and now the focus has shifted to the SEC’s pending ETF decisions in October.
XRP’s trend pattern suggests a momentum buildup that could result in the crypto asset achieving new milestones following a boost in demand from SEC’s approval of as many as six spot XRP ETFs applications.
Related: SEC’s October Calendar Brings Six XRP ETF Verdicts in One Week
ETF Approvals the Next XRP Catalyst for October
The July breakout was fueled by Ripple’s courtroom victory against the SEC, which removed a long-standing cloud over XRP. That legal clarity has left investors waiting for the next major driver, and the spotlight has now turned to the SEC’s October deadlines for XRP ETF filings.
In the meantime, everything points toward the approval of several ETF applications for XRP and several other cryptocurrencies. Notable asset managers, including Franklin Templeton, Bitwise, and Grayscale, have applied for the digital product, with a regulatory green light appearing almost certain.
The odds favor a historic rally for XRP
For instance, Bloomberg ETF analysts James Seyffart and Eric Balchunas have high hopes for the imminent approval of XRP ETFs by the SEC. Both experts foresee a 95% chance that the SEC will give the go-ahead for multiple XRP ETF applicants to roll out their products this October. The analysts cited the resolution of Ripple’s longstanding SEC lawsuit as a pivotal factor that has cleared the way for institutional adoption of XRP.
Related: “The XRP Army proved me wrong,” Galaxy Digital CEO Mike Novogratz Concedes
The odds of an XRP ETF approval on PolyMarket remain high. Bettors believe there is over 90% chance that the SEC will approve XRP ETFs before the end of 2025. Earlier this month, data from PolyMarket revealed a 93% probability that the event would happen, boosting users’ expectations over an upcoming influx of institutional investors in XRP.
What the ETF Approval Could Mean for XRP’s Price
In the meantime, crypto analysts and researchers observing XRP’s behavior are predicting the potential effect of an ETF approval on the cryptocurrency’s price.
For instance, Sistine Research, a market research platform, projected that XRP will trade between $37 and $50 following an influx of institutional investors. That would reflect more than 10x the cryptocurrency’s current price of $2.86, according to data from TradingView.
Related: SEC to Decide on 16 Altcoin Spot ETFs in October: XRP, Solana, Litecoin on the Line
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