Recent trends highlight investors' expectations for XRP price recovery in October, considering key market events.
XRP ETF Approval
The U.S. Securities and Exchange Commission (SEC) extended the review period for the XRP ETF application with a deadline set for October 18. The decision regarding Grayscale's ETF is anticipated, with potential announcements from other issuers by October 23, which could trigger price recovery for XRP.
Ripple's US OCC License Decision
Ripple filed for a national bank charter in July, and the U.S. Office of the Comptroller of the Currency (OCC) is expected to decide on the application within 180 days. Prominent lawyer Bill Morgan predicts that a decision may arrive by the end of October.
Impact of Whale Sales on XRP Price
The market faced significant sell-offs from whales, resulting in negative XRP flow. Analysts reported that over 470 million XRP were liquidated in the last 10 days. Price recovery is expected to occur only after positive shifts in whale flow.
Despite current negative factors and large-scale selling, there is hope for XRP price recovery due to forthcoming SEC and OCC decisions.
