John Deaton, an attorney, noted XRP's price has decreased slightly.

crypthub

about 17 hours ago

XRP Market Dynamics

John Deaton, an attorney and former senatorial candidate, recently suggested XRP may present a buying opportunity. His comment, “XRP is a bit cheaper today,” responded to news of amended S-1 filings for spot XRP ETFs. The price had dipped below $2.8 before stabilizing near $2.5 amid anticipation of SEC decisions.

SEC ETF Review and Potential Impact

Several asset managers, including Bitwise and Franklin, have submitted amended S-1 forms for proposed XRP ETFs. The SEC is expected to announce rulings between October 18 and 25, which could significantly influence XRP's valuation. Market participants anticipate a positive outcome for XRP’s market value if approved.

Institutional Interest and Confidence

Renewed institutional interest in XRP has emerged over the past year, particularly due to the possibility of a spot ETF. The filings signal growing confidence in XRP’s regulatory standing and long-term viability. ETF approval could expand XRP’s liquidity and accessibility through traditional financial channels.

Important Considerations

Previous ETF approvals for assets like Bitcoin have driven price increases and boosted institutional investment. It's important to note this information is for informational purposes only, and not financial advice. Readers should conduct their own research before making investment decisions.