Ripple (XRP) Rally Countdown: Critical Preparations Underway

Ripple (XRP) is poised for a potential rally as developments surrounding exchange-traded funds (ETFs) gain momentum. Following Bitcoin and Ethereum’s advancements in crypto ETFs this year, the Ripple community has underscored XRP’s significant role and clear regulatory standing, advocating for it to be the next asset featured in an ETF.

Recent discussions, including insights from researcher Anderson, highlight that the market is gearing up for XRP ETFs. Anderson noted Grayscale’s strategic decision to launch an XRP Trust in September, which many view as a precursor to an official ETF application. The Ripple community eagerly anticipates Grayscale’s next steps, given its status as a prominent asset manager.

Additionally, other significant players in the crypto asset management space have initiated their own ETF applications. Bitwise filed with the SEC on October 2, while Canary Capital followed suit on October 8, marking its entry into digital assets. Steven McClurg, leading Canary’s initiative, emphasized strong investor demand for alternatives to Bitcoin and Ethereum.

Bloomberg analyst Eric Balchunas expressed skepticism about the current SEC chairman approving these applications, suggesting that the political landscape, particularly the upcoming presidential election, could influence future decisions. As the countdown continues, the potential for XRP ETFs is stirring excitement in the market.