XRP News Today: Regulators Hold Keys as XRP ETF Hopes Near 94% Chance

Ripple has moved $6.08 billion worth of XRP through escrow accounts this week, with a significant $830 million released as part of its scheduled unlocks. The transfers, which include movements of 500 million, 300 million, and 200 million XRP, highlight increased activity in the market for the third-largest cryptocurrency by market capitalization. Despite the large-scale movement of tokens, a net 300 million XRP remained in circulation, as 700 million were returned to escrow. XRP's market activity has also surged, with daily trading volume hitting $6.57 billion, reflecting a 44% increase compared to earlier levels [1].

The heightened interest in XRP is underscored by the growing speculation surrounding the approval of an XRP ETF. According to data from prediction market platform Polymarket, the likelihood of regulatory approval is now at 94%, with seven XRP-linked ETFs currently under review by the U.S. Securities and Exchange Commission (SEC). The deadline for decisions on these applications is October. Market analysts, including Nate Geraci—a veteran in ETF approvals—have noted the potential for strong institutional demand, particularly with XRP futures reaching a record $1 billion in open interest. However, major asset managers such as BlackRock and Fidelity have yet to enter the XRP market, preferring to focus on more established cryptocurrencies like Bitcoin and Ethereum [1].

Bitcoin, on the other hand, has faced turbulence, with analysts warning of a potential $100,000 price drop if the market turns bearish. Bloomberg analyst Mike McGlone highlighted the risks as Bitcoin failed to break above the $113,000 resistance level, pushing the price lower. This week also saw $400 million in net outflows from spot Bitcoin ETFs over two days, raising concerns about weakening institutional demand. While some market observers argue that this correction may indicate a cycle top, others point to historical patterns showing that such dips often precede further gains. The decline in valuations of publicly traded companies with large Bitcoin holdings—down 75% from their peak—has further fueled concerns about the stability of institutional support for the asset [1].

Meanwhile, the Shiba Inu (SHIB) token remains at a critical juncture, trading near $0.00001226 as it consolidates within a tight triangle pattern. The token has been trapped between rising support and falling resistance levels, with volume and network transactions declining. SHIB is currently at a turning point, with a breakout expected in the near term. If it fails to break above $0.000013, it could slide toward $0.000010, while a successful move higher could target $0.00001698. Despite the technical uncertainty, the SHIB community has been pushing the "Sparktember" narrative, promoting a Q4 rebound. However, market observers caution that without increased volume or institutional participation, the token may struggle to maintain momentum [1].

The broader market remains in a state of flux, with XRP ETF speculation, Bitcoin volatility, and SHIB's technical positioning all contributing to a complex landscape. Ripple's continued activity, combined with growing institutional interest in XRP, suggests a potential shift in the altcoin market. At the same time, Bitcoin’s recent struggles and SHIB's precarious position highlight the ongoing challenges in a market that is still evolving. Investors are closely watching these developments, as the coming weeks may determine the trajectory for these key assets [1].

Source:

[1] $6 Billion Ripple's XRP Transfers and ETF Hype, Bitcoin (https://u.today/6-billion-ripples-xrp-transfers-and-etf-hype-bitcoin-btc-faces-100000-crash-debate-shiba-inu-shib)