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On Friday, crypto asset manager 21Shares filed an S-1 registration form for a spot XRP ETF with the US Securities and Exchange Commission (SEC) to establish the 21Shares Core XRP Trust.
21Shares is pursuing regulatory approval for a spot XRP exchange-traded fund, following similar proposals from other companies.
Though the long-standing legal battle between Ripple Labs and the Securities and Exchange Commission (SEC) appeared over in August, the ever-tenacious regulator has continued the dispute by appealing the final ruling, particularly the elements concluding that the company's programmatic sales of XRP do not constitute securities violations.
The cryptocurrency has wiped out ~80 billion from its valuation this week. This highlights a strong selling pressure within the crypto space. Following this, top tokens such as Bitcoin, Ethereum, and Ripple have recorded a notable correction in their respective portfolios. Will the top cryptocurrencies regain momentum with the U.S.
21Shares, a major issuer of exchange-traded funds, has just joined the XRP ETF race, according to a Friday filing with the U.S. Securities and Exchange Commission (SEC).
21Shares has become the latest asset manager to file with the US Securities and Exchange Commission (SEC) to offer an XRP ETF. This again mounts pressure on the Commission to finally respond to the pending applications from the other asset managers who have applied to offer this fund.
Historically, the fourth quarter often brings notable gains for cryptocurrencies, and with November underway, crypto whales are strategically positioning themselves for potential profits.
The Ripple “Swell” conference on Oct. 15-16 brought together leaders in payments, blockchain, digital assets and economic policy. Ripple used the event, held at the Faena Hotel in Miami Beach, Florida, to spur discussion around the future of finance and chart its plans spanning cross-border payments, custody, tokenization and its RLUSD stablecoin.
XRP, the cryptocurrency associated with the Ripple network, has encountered a turbulent phase recently, facing significant challenges in its attempt to recover from an 18% price crash. As the asset struggles to regain traction, it is currently battling crucial resistance levels and dwindling bullish sentiment among traders.
XRP eyes institutional dominance as Ripple targets the custody market; podcast spotlights advantages over Bitcoin.
Ripple (XRP) price has seen a challenging trend recently, with consistent failures to close above the $0.60 level for four months. Despite these setbacks, XRP has managed to hold above a crucial support floor, giving investors hope.
With the Bollinger Bands indicator showing a contraction not seen since 2016, XRP is poised for a major move that could change its path on the cryptocurrency market. Currently, the popular cryptocurrency is valued at $0.5174, and its Bollinger Bands have narrowed to an unusually tight range, which often signals a major price shift.
XRP, the cryptocurrency and native token of XRP Ledger, has recorded significant price variations in the red zone. However, it bounced off a critical support level of $0.505, climbing from $0.5048 to $0.5230 in early Friday trading before experiencing corrections.
Prominent blockchain tracker Whale Alert, which monitors large cryptocurrency transfers initiated by retail and institutional whales, has spotted two massive crypto transfers that carried almost a billion XRP coins.
XRP, the seventh largest cryptocurrency by market capitalization, has seen an increase in trading volumes over the last 24 hours, skyrocketing by over 40%.
Ripple's Chief Technology Officer, David Schwartz, has addressed the critical importance of XRP within the XRP Ledger (XRPL) amid ongoing discussions about its functionality. In a recent interaction with an XRP enthusiast, Schwartz clarified concerns surrounding whether all transactions on the XRPL require XRP as a gas fee or if other assets could operate independently.
In a riveting turn of events, American blockchain payments company Ripple stole the spotlight on Friday, unlocking nearly 900 million coins from escrow. The massive unlock emerged in tandem with noteworthy lawsuit developments, sparking market discussions over future price action.
Ripple has risen by 0.5% in the past 24 hours, as the SEC acknowledges an application for the US' first ever XRP ETF. The post SEC Acknowledges XRP ETF Proposal – Can Ripple Hit $100? appeared first on Cryptonews.
Bitcoin (BTC) slipped below $70,000 as markets turned bearish after the world's premier cryptocurrency briefly teased a new all-time high earlier in the week. BTC is currently down over 4% and is trading around $69,300.
In the last 30 days, XRP has seen a drop of at least 13.1%. At the beginning of October, the price was at $0.61175. On the last day of October, it touched a low of $0.50877, indicating that the market experienced a 20.24% decline in the month.
The ongoing Ripple vs SEC case has significantly weighed down on XRP's bullish sentiment in the past four years.
The United States approaches a pivotal presidential election, leaders in the cryptocurrency sector are intensifying their calls for clearer regulatory frameworks to support the burgeoning digital asset industry. Ripple CEO Brad Garlinghouse is at the forefront of this movement, urging the next administration to prioritize comprehensive reforms that will not only clarify existing regulations but also foster a more supportive environment for cryptocurrency innovation.
This week, we examine Ripple, Binance Coin, Solana, Dogecoin, and Maker in greater detail. Ripple (XRP) The week started well for XRP, but the price action turned bearish on Wednesday, closing the week with a 3% loss.
What about the urgency of the US Court's latest "Alternative Resolution"? How could a similar decision impact Ripple and XRP?
