Is this calm before a rocket-fueled breakout, or the setup for another bearish trap?
Key Takeaways
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Which XRP ETF filings are under SEC review in October?
The lineup includes Grayscale, 21Shares Core XRP Trust, Bitwise, Canary Capital and CoinShares, and WisdomTree.
How has the XRP community reacted to the ETF anticipation?
On social media, XRP supporters expressed bullish optimism, with one user declaring XRP is “about to blast off like a rocket.”
With October fast approaching, anticipation is building in the crypto market as investors await the U.S. Securities and Exchange Commission’s (SEC) decisions on pending ETF applications.
Adding to the momentum, the SEC advanced the process on the 17th of September by approving proposed rule changes from three national securities exchanges.
That cleared the way for exchanges to adopt generic listing standards for cryptocurrency and other spot commodity exchange-traded products (ETPs).
Not to mention, it fueled optimism that regulatory approvals might soon follow.
Why is October crucial for the upcoming ETFs?
The SEC faced a decisive period in October, with six spot Ripple [XRP] ETF applications awaiting verdicts.
Between the 18th and the 25th of October, the agency is scheduled to rule on filings that could potentially make XRP the third cryptocurrency, after Bitcoin [BTC] and Ethereum [ETH], to gain access to U.S.-listed spot ETFs.
According to a post on X (formerly Twitter) by XRP_Cro, the SEC’s review calendar puts several high-profile applications under the spotlight.
Grayscale’s XRP ETF is slated for review on the 18th of October, followed by the 21Shares Core XRP Trust ETF on the 19th of October.
Bitwise’s XRP ETF will be considered on the 22nd of October, while Canary Capital’s and CoinShares’ proposals are both scheduled for the 23rd.
Rounding out the week, the agency is set to review WisdomTree’s XRP ETF filing on the 24th of October.
Community reaction
Reacting to the same, an X user added,
“$XRP is about to blast off like a rocket with those ETF inflows! Buckle up, $ARMY, we’re charging to the moon together!”
Echoing similar sentiments, another X user noted,
Source: X
XRP’s price action and more
This coincided with XRP trading at $2.78 after a 0.25% dip in the past 24 hours, according to CoinMarketCap.
The RSI at 49 suggested bears held the upper hand, though its proximity to the bullish zone left room for a possible reversal.
Supporting that outlook, the Chaikin Money Flow (CMF) signaled rising bullish momentum.
Source: TradingView
Meanwhile, Ripple’s Spot ETF momentum also grew. Franklin Templeton extended its filing into November, and REX-Osprey launched the XRPR ETF with $37.7 million in trading volume.
However, on-chain data showed sellers still dominate, as the Spot Taker CVD highlighted profit-taking and persistent pressure.
That left XRP caught between ETF-driven optimism and near-term market headwinds.
Next: Inside Ethereum’s calm: Exchange exits, fund accumulation and more!
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