Ripple (XRP) News today: September 30th

Discover the recent developments around Ripple and its ecosystem.

The potential approval of extra place XRP ETFs, the progress of the Stablecoin Rlusd and the performance of XRP. These are some of the most important topics that we will deal with in the following rules.

More ETFs on the horizon?

The Rex-Esprey XRP ETF (Ticker XRPR) began to act in mid-September and became the first US-watched spot ETF that offers direct exposure to Ripple’s Native Token. The US Securities and Exchange Commission (SEC) has several other similar products in anticipation of approval on its desk, and the green light can come in the following month.

The decision -making period for Grayscale’s Spot XRP ETF is set Before October 18, while 21Shares, Bitwise, Canary Capital and Wisdomtree wait for the last “yes” or “no” a few days later.

Eleanor Terrett (former Fox Business Journalist) recently unveiled That the SEC has asked the E-Pendents of XRP and other crypto-etf’s to withdraw their 19B-4 inventions after the approval of the Generic Listing Standards. Countless X users suggested that this change could accelerate the process and the way could pave the way for a wave of comparable investment products in the near future. Bloomberg’s Eric Balchunas emphasized the update, proverb:

“This was something we thought it could happen. It makes sense because you don’t need 19B-4s in the post-GLS world. I’m not sure how the launch schedule will still work. More will be revealed soon …”

Rlusd gets traction

Ripple’s Stablecoin (coupled 1: 1 to the US dollar) saw the daylight by the end of 2024 and initially received support from Uphold, Bitso, MoonPay, Coinmena and other exchanges.

In recent months, Kraken and Gemini also followed the example. The newest that jumps on the bandwagon is Bybit, that has entered The trading couples: RLUSD/USDT, BTC/RLUSD, ETH/RLUSD, XRP/RLUSD and MNT/RLUSD.

The market capitalization of the Stablecoin has gradually increased and at the time of the press it is almost $ 790 million. This makes it the 14th largest active in its category and still far below the Giants USDT and USDC.

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XRP -Price views

A few hours ago, Ripple’s native cryptocurrency registered a short increase of more than $ 2.90, but is currently trading on around $ 2.85 (with only 0.5% decrease on a daily scale).

Cryptopotato Recently the case of the trader with the nickname “Qwatio” who opened a 20x short position on XRP (with a value of $ 17.6 million) and whose liquidation price was $ 2,9115. Onchain -lens unveiled that the person was liquidated, with their $ 4.22 million hyperliquid deposits shrink to just $ 653,000 in three days.

The crypto community seems to be divided over the next potential movement of XRP. Bullish analysts, such as X user Mikybull Crypto, to believe A “mega breakout” can be on the horizon. Others, including Egrag Crypto, outlined some technical indicators according to which it can actively go south in the short term.