TheCryptoUpdates
CryptoCryptocurrency NewsNews

XRP Struggles to Gain Momentum Amid ETF Uncertainty

XRP is having a tough time right now, and it’s mostly because everyone’s waiting to see what happens with those spot ETF applications. The token is stuck around $3 and can’t seem to break through, especially after the SEC decided to delay their decisions until October instead of giving answers right away.

What’s really interesting is how divided people are about XRP. Some crypto lawyer named John Deaton pointed out that institutional traders basically hate XRP, but regular retail investors absolutely love it. That split is pretty obvious when you look at how Coinbase just cut their XRP holdings by more than 50% because there wasn’t enough demand from the big players.

The timing couldn’t be worse either. While XRP is struggling to get institutional attention, other altcoins are absolutely flying. Cronos jumped 103% just this week after Trump Media announced they’re raising over $6 billion to acquire the company. That kind of institutional money is exactly what XRP needs but isn’t getting right now.

October is shaping up to be make-or-break month for XRP. If BlackRock decides to file for an XRP ETF like they did with Bitcoin and Ethereum, things could change really quickly. Their Bitcoin ETF brought in $58 billion and their Ethereum one got $13 billion, so an XRP version could be huge.

The problem is nobody knows if or when that might happen.

Conclusion

XRP’s future depends on getting institutional support through ETF approvals. October could be the month that finally changes everything for this controversial cryptocurrency.

Also Read: XRP poised for a breakout

Related posts

Private Crypto Payroll: Aleo and Request Finance Partnership

Jack

Best Cryptos to Buy for Major Potential Gains: BlockDAG, Litecoin and More!

Jack

Cryptocurrency News | Coinbase Pro Adds Another Four ERC 20 Tokens including DAI

Kesarwani
Close No menu locations found.