Jakarta, Pintu News – This October, all eyes were on Ripple (XRP) due to the scheduled decision by the US Securities and Exchange Commission (SEC) regarding several Ripple (XRP) ETF applications between October 18 and 25. However, the US government shutdown that began on October 1 has delayed these plans.
With the SEC operating with minimal staff, non-essential reviews and approvals, including for crypto ETFs, are effectively frozen. Nonetheless, the potential approval of a Ripple (XRP) ETF remains an important catalyst that could push Ripple (XRP) prices sharply higher.
Public companies are increasingly adopting Ripple (XRP) as part of their treasury strategies. Ripple (XRP) corporate storage has recently surpassed $11.5 billion, driven by large companies such as SBI Holdings, Reliance Global Group, Gumi Inc. and Trident Digital expanding their reserves.
The addition of Ripple (XRP) by more companies into their treasuries leads to a significant absorption of supply and increase in demand, which can be a strong catalyst for sustained Ripple (XRP) price appreciation.
As major corporations continue to add Ripple (XRP) to their assets, this not only increases the legitimacy of Ripple (XRP) as an investment asset but also stabilizes the price in the market. With a consistent increase in demand and limited supply, the price of Ripple (XRP) has the potential to surge.
Also read: Ripple and Bahrain Fintech Bay Collaboration: Aiming for RLUSD Adoption?
Ripple continues to expand its footprint through high-impact partnerships that amplify the real utility of Ripple (XRP) in the world. Recently, the company announced a strategic partnership with Bahrain Fintech Bay, which aims to advance blockchain innovation, tokenization pilots, and RLUSD stablecoin integration in the Middle East. Prior to that, Ripple partnered with Thunes, a leading fintech company offering cross-border payment solutions globally.
This partnership not only expands the use of Ripple (XRP) in international financial transactions but also increases trust and adoption among financial institutions. With more entities integrating Ripple (XRP) in their operations, the demand for Ripple (XRP) is expected to continue to rise.
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Despite recent market turbulence, the Ripple (XRP) price chart is showing signs of a potential bullish reversal. According to a report from crypto.news on October 8, Ripple (XRP) price is forming a descending triangle pattern-a setup that, if broken to the upside, could trigger a rally of up to 37%, with targets in the $3.90-$4.00 zone.
Momentum indicators such as the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) stabilized near neutral territory, indicating that selling pressure is starting to ease.
With favorable technical conditions and potential positive news from the SEC, investors and traders should pay attention to these signals as indicators of the right time to enter or add to positions in Ripple (XRP).
Although delays by the US government shutdown have created uncertainty, the long-term outlook for Ripple (XRP) remains positive with potential ETF approval, strategic partnership expansion, and favorable technical signals. Investors may need to be patient, but current indicators suggest that Ripple (XRP) is on track for recovery and significant price growth.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
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