The potential approval of additional spot XRP ETFs, the advancement of the stablecoin RLUSD, and the performance of XRP. These are some of the main topics we will cover in the following lines.<\/p>\n
The REX-Osprey XRP ETF (ticker XRPR) began trading<\/a> in mid-September, becoming the first US-listed spot ETF offering direct exposure to Ripple\u2019s native token. The US Securities and Exchange Commission (SEC) has several other similar products pending approval on its desk, and the green light might come as early as next month.<\/p>\n The decision deadline for Grayscale\u2019s spot XRP ETF is set<\/a> for October 18, whereas 21Shares, Bitwise, Canary Capital, and WisdomTree await the final \u201cyes\u201d or \u201cno\u201d a few days later.<\/p>\n Eleanor Terrett (former Fox Business journalist) recently revealed<\/a> that the SEC has asked the issuers of XRP and other crypto ETFs to withdraw their 19b-4 filings following the approval of the generic listing standards. Numerous X users suggested that this change could speed up the process and pave the way for a wave of similar investment products in the near future. Bloomberg\u2019s Eric Balchunas highlighted the update, saying<\/a>:<\/p>\n \u201cThis was something we thought could happen. It makes sense as you don\u2019t need 19b-4s in the post-GLS world. Just not sure how the launch schedule will work yet. More will be revealed soon..\u201d<\/p>\n Ripple\u2019s stablecoin (pegged 1:1 to the American dollar) saw the light of day towards the end of 2024 and initially received support from Uphold, Bitso, Moonpay, CoinMENA, and other exchanges.<\/p>\n Over the past several months, Kraken and Gemini also followed suit<\/a>. The latest to hop on the bandwagon is Bybit, which has introduced<\/a> the trading pairs: RLUSD\/USDT, BTC\/RLUSD, ETH\/RLUSD, XRP\/RLUSD, and MNT\/RLUSD.<\/p>\n The stablecoin\u2019s market capitalization has been gradually increasing, and as of press time, it stands at almost $790 million. This makes it the 14th biggest asset in its category and still far below the giants USDT and USDC.<\/p>\n Several hours ago, Ripple\u2019s native cryptocurrency registered a brief uptick above $2.90 but currently trades at around $2.85 (representing a mere 0.5% decline on a daily scale).<\/p>\n CryptoPotato<\/em> recently reported<\/a> the case of the trader with the nickname \u201cqwatio\u201d who opened a 20x short position on XRP (valued at $17.6 million) and whose liquidation price was $2.9115. Onchain Lens revealed<\/a> that the person was liquidated, with their $4.22 million Hyperliquid deposit shrinking to just $653,000 in three days.<\/p>\n The crypto community seems divided on XRP\u2019s next potential move. Bullish analysts, such as X user Mikybull Crypto, believe<\/a> a \u201cmega breakout\u201d could be on the horizon. Others, including EGRAG CRYPTO, outlined<\/a> some technical indicators according to which the asset may head south in the short term.<\/p>\n The post Ripple (XRP) News Today: September 30th<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" The potential approval of additional spot XRP ETFs, the advancement of the stablecoin RLUSD, and the performance of XRP. These are some of the main topics we will cover in the following lines. More ETFs on the Horizon? The REX-Osprey XRP ETF (ticker XRPR) began trading in mid-September, becoming the first US-listed spot ETF offering […]<\/p>\n","protected":false},"author":0,"featured_media":100904,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-100903","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/100903"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=100903"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/100903\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/100904"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=100903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=100903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=100903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}RLUSD Gains Traction<\/h2>\n
XRP Price Outlook<\/h2>\n