Today's XRP news: SEC's approval deadline in October, BlackRock ETF may trigger the $3 barrier.

The XRP market is at a critical turning point as multiple Spot ETF approval deadlines from the SEC are approaching, with investors closely watching the decision moment in mid-October. BlackRock's potential launch of the iShares XRP Trust is seen as a key catalyst that could trigger a price breakthrough above the $3 mark. This week's approval results for the Canary Capital Litecoin ETF will set the tone for the entire altcoin ETF market, and XRP holders should closely follow this important signal.

Encryption ETF Approval Countdown: A Key Moment for XRP Holders

The approval of cryptocurrency spot ETFs has entered the final stage, with deadlines set for the final decisions on multiple XRP spot ETF applications, and the long-awaited regulatory clarity is about to arrive. According to public data, the final approval timeline for XRP spot ETFs is as follows:

Grayscale: October 18

21Shares: October 19

Bitwise: October 20

Canary Capital: October 24

CoinShares: October 25

WisdomTree: October 25

Franklin Templeton: November 14

This series of deadlines will determine XRP's market performance in the fourth quarter, especially the Grayscale XRP ETF decision on October 18, which may become a key turning point for the entire XRP ETF market.

Altcoin ETF Pioneer: Canary Litecoin ETF's Barometer Role

The upcoming approval deadline for the Canary Capital Litecoin ETF on October 2 is seen by the market as an important barometer. As the first altcoin Spot ETF awaiting SEC approval, its approval results will provide important references for subsequent Crypto Assets ETFs, including XRP.

Nate Geraci, the CEO of NovaDius Wealth Management, commented: "In the coming weeks, there will be 'massive' trading for Spot Crypto Assets ETFs... The final deadline for numerous SEC applications is approaching. This week, the deadline for the Canary Spot LTC ETF will begin. Subsequently, decisions will also be made for Sol, Doge, XRP, ADA, and Hbar ETFs (although the SEC can approve any or all of them at any time)."

Market analysts predict that the SEC may adopt two strategies: approve all cryptocurrency Spot ETFs in one go, or approve them one by one in order of final deadlines. If a one-time approval strategy is adopted, it will put all ETF products on the same starting line, avoiding the first-mover advantage problem.

BlackRock Factor: Market Influence of iShares XRP Trust

As investors eagerly await the SEC's decision, the movements of BlackRock, the world's largest asset management company, may become a key variable influencing the price of XRP. BlackRock's iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA) have already dominated the crypto ETF market, and the potential impact of the iShares XRP Trust on the XRP market should not be underestimated.

Robbie Mitchnick, the head of BlackRock's digital assets, recently discussed with Nate Geraci and although he did not directly reveal the XRP ETF plan, he shared the company's criteria for evaluating Crypto Assets:

"We not only pay attention to factors such as market capitalization, liquidity, and maturity, but also focus on the clarity of investment theories and the overall consideration of products and portfolios, to understand how clients use products in this field over the long term and how to comprehensively build the types of portfolios they desire."

Considering XRP's position as the third largest Crypto Assets by market capitalization globally, as well as its practical application value in the cross-border payment sector, XRP meets several evaluation criteria of BlackRock. Market analysts point out that if BlackRock decides to launch the iShares XRP Trust, it could rapidly attract a significant inflow of institutional funds, similar to its Bitcoin and Ethereum ETFs.

SEC New Regulations and ETF Listing Mechanism Changes

The SEC's recently approved General Listing Standards (GLS) for commodity-related stocks has brought significant changes to the crypto ETF market. According to the new rules, ETF issuers can list and trade crypto asset spot ETFs that meet GLS requirements without undergoing additional review procedures by the SEC.

This policy change means that even if the SEC has not officially approved certain crypto asset ETFs, issuers can theoretically decide on the listing time by themselves. However, industry experts predict that the SEC may request issuers to delay the listing and trading behind the scenes until it approves the current batch of crypto asset spot ETFs.

In this situation, BlackRock may choose to simultaneously list the iShares XRP Trust on October 18 or 19 (the final deadline for the Grayscale and 21Shares ETF) to avoid competitors gaining a first-mover advantage.

XRP Technical Analysis: Breakthrough Opportunity at the Psychological Barrier of 3 USD

(Source: Trading View)

From a technical perspective, XRP has shown strong performance recently, rising 2.17% on September 28, with a closing price of $2.8684, maintaining an upward trend for three consecutive trading days. Currently, XRP is approaching the important psychological threshold of $3, and technical analysts are closely monitoring the following key price levels:

Support Level:

2.7 USD (short-term key support)

2.5 USD (secondary support)

Resistance Level:

3 dollars (psychological barrier)

3.2 USD (mid-term resistance)

3.335 USD (strong resistance zone)

3.66 USD (historical highest price)

Multiple technical analysts have pointed out that XRP is currently in a buildup phase before a breakout, and the ETF approval results will become a key catalyst determining the price direction.

Long and Short Scenario Analysis: Market Impact of ETF Approval Results

Depending on different ETF approval scenarios, the XRP price may show drastically different trends:

Bullish Scenario:

· BITW, GDLC, and XRPR ETFs reported strong capital inflows.

· BlackRock has decided to list and trade the XRP Spot ETF

· SEC approved XRP Spot ETF application

· Blue chip companies include XRP in their financial reserve assets.

· Ripple successfully obtained a charter banking license in the United States.

· The "Market Structure Act" has passed in the Senate.

The positive developments of these factors may drive XRP to break through the $3 mark, advancing towards $3.2 or even higher levels.

Bearish Scenario:

· ETF product capital inflow is less than expected or there is a net outflow.

· BlackRock remains silent on XRP Spot ETF

· SEC rejects or delays XRP Spot ETF application

· Crypto-friendly regulations face obstacles

· OCC delays or denies Ripple's bank charter application

· SWIFT maintains its dominant position in the global remittance sector.

These unfavorable factors may cause XRP to fall back to the $2.7 support level, and if it breaks below that level, it may further drop to the $2.5 level.

October will be a decisive month for XRP investors, as the approval results of the Canary Litecoin ETF, the SEC's final decision on the XRP ETF, and BlackRock's product strategy will collectively determine whether XRP can break through the psychological barrier of $3 and initiate a new wave of upward momentum.