The main dishes to remember:
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Bloomberg analysts attribute ratings of 95% for an XRP ETF, with a dry decision expected for October.
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The adoption of XRPL is lagging behind peers, holding only 2% of active worlds in the real world despite the growth of stables.
The XRP price (XRP) was rejected Tuesday after reaching its highest level in almost two weeks to $ 3.04. This decision was motivated by speculation around a potential approval of the exchange fund (ETF) in the United States and the increased institutional participation in XRP derivatives, which could expect the question of whether XRP could review the level of $ 3.60 observed in July.
The demand for term contracts on XRP increased by 5% compared to the previous month, totaling 2.69 billion XRP – equivalent to $ 7.91 billion at current prices. More specifically, the number of current XRP contracts in progress listed at Chicago Mercantile Exchange (CME) jumped 74% during the same 30 -day period, reaching 386 million XRP. The increase highlights a greater participation of professional fund managers and market manufacturers.
Although higher term activity generally indicates interest, long and short positions are always balanced. However, monthly term contracts can provide signals from lever imbalances. Under neutral market conditions, XRP term contracts are generally negotiated from 5% to 10% above cash markets to take into account the longer payment period.
Currently, the trade of XRP monthly future at a premium of 7%, suggesting that the demand for leverage remains balanced, in accordance with the model last month. One of the reasons for the dull perspectives is XRP’s underperformance compared to the wider market capitalization of Altcoin.
XRP has remained stable since August, while the Altcoin market increased by 14% during the same period. This rally was supported by 32% earnings in the hyperliquid (hype), 28% in Solana’s soil (soil), 19% in Cardano ADA (ADA) and 18% in ether (ETH). The most notable momentum of XRP in August followed the settlement of a dispute of several years between Ripple and the Securities and Exchange Commission of the United States (SEC).
The XRP rally depends on the American ETF decision looming
The anticipation of an ETF XRP approval in the United States has been at the heart of the recent XRP price performance. Bloomberg analysts grant the chances of approval at 90% or more, although the final decision of the SEC was only expected at the end of October. Rex-oscrey products combining STFs and structures ETN could arrive earlier, following a model similar to Solana Staking (SSK), which does not require direct approval of the SEC.
Ripple Rlusd Stablecoin crosses the 700 million dollars mark in assets has also aroused attention. Although the milestone seems impressive, almost 90% of the offer has been issued on the Ethereum network, creating little or no direct demand for the major XRP book. In addition, the StableCoin market remains dominated by issuers established with deeper liquidity, notably Usyc de Circle and World Liberty USD, which present a formidable competition.
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Some investors expect XRPL to evolve towards a main facilitator of international payments, effectively replacing the current Swift infrastructure, or to quickly extend its role in tokenization. However, Rwa.xyz data indicate that XRPL represents only 2% of exceptional real assets, dragging small block chains such as avalanche, stellar and aptos.
XRP’s advance at $ 3.60 cannot be excluded, but given the modest of $ 100 million of total locked value (TVL), the chances of supporting such a moment seem limited.
This article is for general information purposes and is not intended to be and must not be considered as legal or investment advice. The points of view, the thoughts and opinions expressed here are the only of the author and do not reflect or do not necessarily represent the opinions and opinions of Cointellegraph.