- XRP price hovers above $3 despite ETF delays and uncertainty.
- SEC review paused, holding spot ETF approvals for XRP temporarily.
- Ripple’s national bank charter decision was postponed amid the government shutdown.
XRP is trading near $3, gaining around 7% over the past week. Investors are focused on two big developments this month that could shape the token’s future.
Spot ETF Decision in Focus
The U.S. Securities and Exchange Commission (SEC) is set to decide on several spot XRP exchange-traded fund (ETF) applications by October 18. Filings from Grayscale, Franklin Templeton, and Bitwise are waiting for review. If approved, these ETFs would offer a regulated way for investors to gain exposure to XRP. The SEC often approves multiple products on the same day, as it did with Bitcoin and Ethereum ETFs, pushing the XRP higher.
Ripple’s Bid for a U.S. Bank Charter
Ripple has also applied for a U.S. national bank charter, with a decision expected by the end of October. If successful, Ripple would become a federally chartered bank. This would give it direct access to financial system infrastructure, supporting its plans to issue RLUSD, an XRP-backed stablecoin.
Impact of the Government Shutdown
The SEC’s routine process for approving ETFs and IPOs is currently on hold due to the shutdown. While the agency can act in emergencies, spot ETFs require clearance from its Division of Corporation Finance before trading begins.
Related: Bitcoin Breaks $121K as XRP, Chainlink, Solana, SUI Gear for Breakout
This means launches, including for XRP, Litecoin, and Solana ETFs, may not move forward until operations return to normal. Senior ETF Analyst at Bloomberg Eric Balchunas stated, “It’s like a rain delay.”
XRP Price Outlook for October
Experts say XRP needs to hold above $2.75 to maintain its bullish momentum this month. The token has a history of strong fourth-quarter performances—up 240% in Q4 2024 and 20% in Q4 2023. In 2017, XRP surged by over 1,000% between October and December.
In the short term, analysts are watching $2.92 and $2.88 as possible pullback zones. A break above $3.20 opened the path toward $3.30, but Bitcoin’s cooling trend could trigger a dip before another push higher.
As long as XRP stays above $2.75, analysts expect the token to test higher targets later this month. With key regulatory decisions ahead, October could prove pivotal for XRP’s future.
Related: SEC Goes Skeleton Crew in U.S. Shutdown, Canary Litecoin ETF Left Waiting
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