Key Takeaways:
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Bloomberg’s analysts have appointed 95% odds for an XRP ETF, with a SEC decision expected for October.
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XRPL adoption captures peers, holding only 2% of the real owners in the world despite the growth of Stablecoin.
XRP (XRP) The price faced a decline on Tuesday after reaching its highest level at almost two weeks at $ 3.04. The move is driven by speculation around a potential fund-traded fund (ETF) approval in the United States and increased institutional participation in XRP derivatives, which raises expectations about whether XRP can visit the $ 3.60 level seen in July again.
Demand for XRP futures has risen to 5% from last month, covering XRP 2.69 billion – equivalent to $ 7.91 billion in existing prices. More noticeable, the number of remaining XRP Futures contracts listed in the Chicago Mercantile Exchange (CME) jumping 74% in the same 30-day span, reaching XRP 386 million. Increasing highlights of stronger participation from professional fund managers and market makers.
While increased activity in futures generally indicates interest, long and short positions are always balanced. However, monthly contracts with futures can give signals of imbalance. Under neutral market conditions, XRP futures generally trade 5% to 10% above market areas to account for longer periods of regulating.
Currently, the XRP monthly futures trade in a 7% premium, which suggests demand demand remains balanced, consistent with last month’s pattern. One reason for the mute perspective is XRP underperformance compared to the wider capitalization of the Altcoin market.
The XRP has remained flat since August, while the Altcoin market has moved 14% at the same time. That rally was supported by the acquisitions of 32% in hyperliquid (hype), 28% in Sola’s Sol (Sol), 19% in Cardano’s Ada (Ada), and 18% in ether (Eth). The most prominent XRP momentum in August followed the settlement of a long dispute between the Ripple and the US Securities and Exchange Commission (SEC).
XRP rally hinges in US ETF decision decision
The hope of a Approval of XRP ETF In the US has been the center of recent XRP price performance. Bloomberg’s analysts place the odds of approval at 90% or higher, although the SEC’s final decision is expected only in late October. Rex-osprey products that combine ETF and ETN structures may come earlier, following a model similar to Solana Staking (SSK), which does not require direct Sec.
Ripple’s Stablecoin Rlusd Crossing the $ 700 million marks on the property -ownership also caught the attention. While the milestone appears to be amazing, nearly 90% of the supply is issued to the Ethereum network, creating a bit without direct demand for the XRP ledger. Moreover, the Stablecoin market remains dominated by established providers with deeper liquidity, including USYC and World Liberty’s USD1, which shows terrible competition.
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Some investors expect XRPL to change to a major International Payment FacilitatorEffectively replaces the current swift infrastructure, or to quickly expand its role in tokenization. However, data from RWA.xyz indicates XRPL account for only 2% of the remaining Real world ownershipTrailing smaller blockchains such as avalanche, stellar, and aptos.
The XRP advance to $ 3.60 cannot be ruled out, but considering a moderate $ 100 million in the total amount locked (TVL), the odds of maintaining such a momentum appear limited.
This article is for general information purposes and is not intended to be and should not be done as legal or investment advice. The views, attitudes, and opinions expressed here are unique and do not necessarily reflect or represent the views and opinions of the cointelegraph.
