Lo, behold XRP, floating languidly at a mere $3.30, having risen more than a whimsical 9% in a mere two-score of Earthly hours. This unforeseen rally occurs amidst the frosty embrace of a U.S. government shutdown, which has effectively ensnared the diligent securities beth’s vigil of the Securities and Exchange Commission (SEC), leaving all applications for spot XRP ETFs in limbo. Analysts murmur among themselves: this halt is not borne of rejection but born of scarcity-the absence of staff to peruse and label files.
Presently, six XRP ETF proposals linger like phantoms-graceful offerings from the likes of Grayscale, 21Shares, Bitwise, WisdomTree, Canary Capital, and CoinShares. Upon the SEC’s thawing and return to order, multiple approvals may descend in a glorious flurry, much akin to the torrent of Bitcoin ETF approvals seen in days yonder this year. 🌟
Canary Capital’s Custodian Proclaims a Torrent of Bulls
In an interview most intriguing, Paul Barron questioned Steven McClurg, the CEO of Canary Capital, who proclaimed his audacious vision for the XRP ETFs. Where once he anticipated a mere $5 billion in the tempestuous first month, now he dares to predict the figure may surge to a breathtaking $10 billion.
“Indeed, a wager most assuredly safe,” declared McClurg with a tone not unfamiliar to prophecy-or was it confidence? Evoking memories of the first Bitcoin futures ETF to which he had lent his hand, drawing more than a billion golden coins on day one-a spectacle that secured its place amongst the top ten launches in the annals of finance. Given how Bitcoin once seized over $3 billion in a mere day, he declared it would indeed be a spectacle should XRP ETFs see $2-3 billion on their inaugural day.
Such massive inflows, he pontificated, would elevate XRP ETFs to the hallowed halls of the top 20 ETFs of all time-nay, perchance even within the illustrious top ten, the locus of which depends so precariously on market conditions at the time of birth.
The Regulatory Path: A Labyrinth Winding
The destiny of XRP is as entangled as any plot from a Petersburgian drama, hinging upon the clarity of regulation. The SEC and CFTC have commingled in discourse public, viewed by some as the genesis of a unified rule of crypto in all U.S. lands. Former commissioner Paul Atkins, a fervent advocate for an “innovation exemption,” seeks to hasten the approving hands for digital assets, which may be XRP’s dearest ally.
XRP Price Prediction: The Oracles Foretell What?
XRP now finds itself ensnared in a relentless tussle, unable to pierce the bastion fitted steadfastly between $3.10 and $3.15. Each endeavor to breach this range falls to nettles, for sellers cluster like wary suitors at these levels.
In the shadow, the first bastion of support lies about $2.93-$2.94. Should XRP plummet below this fortress, the price is fated to tread back to the mightier support lurking near $2.70-$2.80, a haven thrice summoned by the markets to foster a spirited rebound. 🎭
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2025-10-05 10:13