TeamViewer holder offering books multiple times covered: terms

TeamViewer holder offering books multiple times covered: terms

XRP is facing a pivotal moment as the odds of ETF approvals rise, potentially impacting its market performance. According to market reports, two ETF decisions are scheduled for October. Grayscale has an Oct. 18 deadline, while Canary is set for Oct. 24. A Polymarket poll, with approximately $150,000 in assets, shows approval odds increasing to 87% from an August low of 64% [1].

The rise in approval odds has been attributed to the anticipation of multiple ETF filings wrapping up around the same time, similar to the recent approvals for spot Bitcoin and Ethereum ETFs. This expectation is bolstering XRP prices, with the token rising 3% on Tuesday to $2.80, following a weekly low of $2.68. This move trimmed part of a slide that has pushed the token about 23% below its year-to-date peak of $3.6654 [1].

Strong flows into crypto funds are also being cited as a factor in potential XRP demand. Spot Bitcoin ETFs have seen over $54 billion in inflows, while Ethereum funds have attracted around $13 billion. Existing XRP-related ETFs, such as those from Teucrium and ProShares, have also drawn millions in assets [1].

The newly launched CME futures for XRP have quickly reached more than $1 billion in open interest, indicating significant appetite for XRP trading exposure. Despite these positive indicators, regulatory timing remains uncertain, with the US regulator having postponed related ETF decisions multiple times. Broader market weakness could also blunt demand, even if approvals are granted [1].

Technical analysis suggests that XRP may be forming a falling wedge pattern, which is often seen as a bullish formation. Historically, the formation of a falling wedge has led to a reversal of XRP’s price trend, with a peak increase of 2.31% over 53 days following the pattern’s emergence in November 2022. Short-term momentum has also shown strength, with a 66.67% win rate over three days and a 60.00% win rate over 10 days after the pattern’s formation. Traders are cautious and await clear confirmations, either from regulatory filings or strong fund flows, to extend gains beyond the current bounce. For now, XRP is trading between support near $2.68 and a potential target of $4, which would signal a more sustained upward move [1].



References:
[1] https://www.newsbtc.com/altcoin/xrp-faces-crucial-test-with-etf-approval-chances-now-at-87/