The recent actions of the U.S. Securities and Exchange Commission (SEC) concern several ETF proposals related to XRP. The deadlines for approvals have been pushed back to October, which could impact the cryptocurrency market.
Potential Impact of ETF Approval in October
Crypto commentator Zach Rector has outlined the potential future trading actions, expecting upward pressure on XRP leading into October. He predicts that in the event of ETF approvals, a short-term price dip may occur, but sustained demand can support longer-term price levels.
What Approval Could Change
Approval of the ETFs would not change XRP's underlying technology but could affect how capital accesses the market. Rector warned investors to stay put, as this initiative may lead to a surge in XRP prices, especially if demand continues after the initial sales begin.
Market Awaits Approval
The SEC will need to make decisions on pending applications in October, which may directly influence short-term price dynamics and investor interest. The expected approval hints at a bullish future for XRP, making October a key month for the market.
With growing interest in XRP-related ETFs, October promises to be a pivotal month for the market. The anticipated SEC decisions could significantly affect XRP trading in the near term.
