Expectations surrounding the approval of several XRP-based ETFs by the SEC in October are generating significant interest and optimism among investors.
Predictions from the XRP Community
The XRP community expresses optimism about potential wealth creation among investors in October. Crypto commentator Kenny Nguyen noted that 'many XRP millionaires will be born in October,' citing the likelihood of ETF approval and launch. Similar sentiments have been echoed by other community figures, including influencer CryptoBull.
ETF Approval Deadlines
The SEC is expected to deliver rulings on multiple XRP ETF applications between October 18 and 25. Major issuers such as Grayscale and Franklin Templeton are among those awaiting decisions. Grayscale has filed for the conversion of its XRP Trust into an ETF, with overall inflows from approved products potentially reaching $8 billion.
Market Growth Potential for XRP
Market analysts expect that ETF approval could serve as a catalyst for XRP's growth. Oliver Michel, CEO of Tokentus Investment AG, emphasizes that while Bitcoin remains significant, altcoins such as XRP may see considerable growth of up to 300%. Currently trading around $3.14, XRP is awaiting a decisive market trigger.
As discussions in the XRP community continue, the potential for growth and ETF approvals remains at the forefront. These developments could significantly impact the market and investors' wealth in October.
