XRP ETF: Is the Moon Really Within Reach? 🚀

by
A Few Observations, Perhaps:

  • Franklin Templeton, in a display of… impatience, has nudged the SEC aside with a rather pointed filing. Approval, it seems, is desired with the haste of a spilled teacup.
  • Bitwise, CoinShares, Canary Capital – all chasing the same digital mirage. A veritable stampede of the institutional kind. 🙄
  • XRP, currently loitering around $2.24 (a 14% weekly tumble, naturally), is attempting a wobbly semblance of stability. Like a drunkard trying to stand straight.
  • The RSI and MACD whisper of “oversold.” Which, of course, means absolutely nothing until the market decides otherwise.

The firm now finds itself, shall we say, slightly ahead in a race populated by those equally desperate to peddle XRP to the unsuspecting masses. A fascinating spectacle, isn’t it?

The updated S-1 document now possesses a magical clause – a bypass switch for the SEC’s fondness for procrastination. Mr. Seyffart of Bloomberg informs us this mirrors the arrangements previously extended to Bitcoin and Ethereum ETFs. A clever maneuver, or a thinly veiled attempt to bully the regulators? One wonders. It’s all rather…efficient. Too efficient, perhaps. 🤨

Franklin Templeton’s haste aligns beautifully with the industry’s collective anxiety to secure ETF approval. Canary Capital, also having removed this bothersome “delaying amendment,” eyes a debut around November 13th. Clearly, the scent of institutional lucre is intoxicating. The air practically vibrates with greed… er, interest.

NEW: files updated XRP ETF s-1 with shortened 8(a) language. Looking to launch this month.

– James Seyffart (@JSeyff)

 

The Grand Competition

Bitwise, ever the enthusiastic participant, has confirmed its own XRP ETF ambitions, intending a modest 0.34% management fee. CoinShares, seeking to leave its mark, proposes the delightfully evocative ticker symbol “XRPL” for a Nasdaq listing. ProShares joins the fray, offering an ETF tethered to the CoinDesk 20 Index-a veritable zoo of crypto assets, including, of course, XRP and Solana.

Meanwhile, the XRPR fund, jointly managed by REX Shares and Osprey Funds, has grazed its way past the $100 million mark in assets. CME Group, caught up in the frenzy, expands its XRP derivatives menu. The world, it seems, cannot get enough of this…future. 🤷‍♀️

A Glimpse Into the Crystal Ball (or, the Market Outlook)

As of this moment, XRP lingers near $2.24 (a market capitalization of approximately $134.7 billion, if one insists on such precision). Despite the recent plunge (14%, as previously noted), it remains the fourth-largest cryptocurrency, sustained by daily trading volumes exceeding $10.5 billion. A startling figure, isn’t it? Such energy, such fervor… for what, one might ask.

Technical indicators murmur suggestions of possible stabilization. The RSI flirts with 36, hinting at…something. The MACD lines inch towards a potential crossover. The market is full of whispers and auguries. But who truly listens?

Echoes of the Past

Certain traders, those oracles of the chart, detect familiar patterns. ChartNerd, for instance, notes a resemblance to the consolidation preceding last year’s… exuberance. Sentiment remains, predictably, divided. But Franklin Templeton’s maneuver might provide a small, fleeting jolt of optimism. If, and only if, the SEC deigns to approve it.

Success-should it occur-could represent a step towards integrating XRP into the staid world of mainstream finance. Perhaps sparking a renewed flow of capital into Ripple’s coffers. A strengthening of the narrative. A validation, of sorts. Though, let us not delude ourselves with grand pronouncements. It is, after all, only money. 💸

Disclaimer: This is merely the ramblings of an observer, and should not be mistaken for sound financial advice. Invest at your own peril, and do not blame the messenger when the inevitable happens.

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2025-11-05 09:40