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XRP ETF: Projections and Approval Expectations for October 2023

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by Giorgi Kostiuk

2 days ago

Recent news regarding XRP indicates a high probability of XRP ETF approval in October, driven by developments in the Ripple market.

Approval Projections for XRP ETF

According to recent analysis, the probability of XRP ETF approval in October has increased to 93%. This rise in expectations is due to several applications set for decision in this month, and Frankfurt Stock Exchange officials are reportedly discussing the potential approval of a spot XRP ETF.

XRP Price Movements

XRP is showing signs of growth this week after a period of sideways movement, starting the week at a price of $2.97. Analysts believe a breakout from a key resistance level could lead to another rally, with increased chances of the price exceeding $5 by Q4 2025.

Ripple's Collaboration with SBI Group

Ripple has signed a memorandum of understanding with Japan's SBI Holdings, allowing for the rollout of the RLUSD stablecoin in Japan. The success of RLUSD among institutional clients supports the growing demand for XRP, with its circulation increasing from 57 million to 731 million in the past four months.

The expectations for XRP ETF approval and Ripple's new initiatives could serve as significant drivers for XRP's growth and interest in the RLUSD stablecoin in the market.

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