These 5 XRP ETFs Could Shape October’s Price Trajectory

XRP, the cryptocurrency associated with Ripple Labs, remains a top contender in the Web3 space. XRP ETFs could soon launch, boosting investor excitement. This anticipation is driving expectations for a breakout in October.

XRP price may surge if momentum continues. Another factor adding to the bullish outlook is the recent increase in XRP whale activity.

XRP ETF Awaiting Approvals in October

In an X post, crypto analyst Steph highlighted five XRP ETFs that could receive regulatory nod in October. Several fund managers have submitted applications to the U.S. Securities and Exchange Commission (SEC) for XRP ETFs.

However, the five key filings that face deadline decisions in October include Grayscale, 21Shares, Bitwise, Canary Capital, and WisdomTree.

Steph Is Crypto shared a chart highlighting Grayscale’s XRP ETF timeline. A decision on the ETF is expected by October 18. Grayscale applied to the U.S. SEC to convert its XRP Trust into an ETF back in January.

The asset manager showed its intention via the Form 19b-4 document. Grayscale aimed to provide investors with easier access to XRP through traditional financial markets. If approved, the ETF would debut on NYSE Arca, tracking XRP price movements.

21Shares submitted its XRP ETF application in November 2024. The filing came before Grayscale’s submission. It included a Form S-1 to list Core XRP Trust shares on the Cboe BZX Exchange.

The SEC acknowledged the application on February 14, and now the decision deadline is set for October 19. Bitwise is set to receive a decision on its XRP ETF Trust by October 20. Canary Capital’s review is expected to follow on October 23.

The decision deadline for the WisdomTree proposed XRP ETF comes two days after, on October 25. These filings reflect the growing momentum in the crypto ETF space and the increasing interest from institutional investors.

XRP Whale Accumulations Spike  in 72 Hours

While the market awaits the SEC decision on the ETFs, XRP whales have continued to increase their activities.

Crypto analyst Ali Martinez noted that whales purchased 120 million XRP in the last 72 hours. At the current market price, these coins are valued at approximately $348 Million.

The latest demonstrates that large players, including institutions, are confident in the future price direction of XRP. XRP whale purchase suggests a potential shift from profit-taking to accumulation amid volatile market conditions.

These investors are likely positioning for a potential breakout or hedging against volatility. Their actions have contributed to the positive sentiments surrounding the Ripple-backed coin.

As of writing, XRP traded at $2.89, up 4.14% over the previous day. The daily trading volume also increased by more than 50.5% to $4.6 billion, validating the bullish trend.

XRP ETF Optimism Fuels Bullish Targets Amid Volatility Warnings

Market analysts predict that the SEC approval could enhance the circulation and adoption of XRP. Some cite a similar scenario seen following the launch of Bitcoin and Ethereum ETFs in the U.S.

Following the Grayscale XRP ETF filing, analysts raised targets for the XRP price toward psychological levels of $4 and $5. Others forecast that XRP could break $3 faster than expected if whales continue to accumulate.

However, analyst EGRAG Crypto recently warned of potential sharp declines from past market cycles. The analyst flagged possible drops to as low as $2.08. To highlight potential upsides, EGRAG Crypto posted a chart showing that the XRP price is trading within a long-term ascending channel.

The analyst pointed to the Bull Market Support Band as a key guide. Staying above this band is crucial to avoid deeper corrections and maintain the larger bullish structure intact.