With the second half of the month of October underway, the crypto market has now turned its attention toward Ripple and its native XRP token. A number of important events await Ripple and XRP, starting from next week. These developments could be incredibly bullish for the altcoin’s price, triggering a run that many have expected for a while now.
Important Events To Watch Out For Ripple And XRP
A crypto pundit who goes by Xfinancebull on the X (formerly Twitter) platform outlined the major events that are on the horizon for Ripple and XRP. The first and arguably the most famous and most anticipated of these is the XRP ETF decision by the Securities and Exchange Commission (SEC).
With a total of 10 XRP ETF applications pending, according to data from The Block, the SEC is nearing its deadline to make a decision on the funds’ applications. Between October 18 and October 25, multiple ETF applications reach their final deadlines, and the SEC will either have to reject or green-light funds such as Grayscale, Bitwise, and 21Shares, among others. This comes as the SEC reduced its application review time to 75 days, bringing the deadlines closer.
The next major event is the Ripple Swell event that takes place every year. This event brings together major stakeholders from all around the world to discuss the future of crypto. This year, the highlight is on BlackRock’s Director of Digital Assets, Maxwell Stein, talking about crypto custody at the event.
This has already added fuel to the rumors that BlackRock is interested in XRP and could be filing its own ETF soon. As a result, the Ripple Swell event, taking place between November 4 and 5 in New York City, is expected to be a closely watched event.
Bullish Developments So Far
In addition to the upcoming bullish developments, Ripple and XRP have already seen some events that have added to their bullishness. One of these is the completion of the Ripple vs. SEC legal battle that began in 2020. With the lawsuit out of the way, it has now paved the way for XRP ETFs and price discovery.
The crypto pundit also points to global elections being more pro-crypto than before, spanning from Japan to the EU. There is also the expectation of the Clarity Act, which gives more clarification around digital assets.
As all of these come together, the pundit believes that the XRP price is getting primed. First stop is expected to be $5, marking a floor, but if BlackRock comes to the table, then the analyst expects the price to rise above $6.
