Ripple (XRP) critical preparation: The countdown for the rally has begun!

Ripple (XRP) has given the green light to the bull season with developments regarding exchange-traded funds (ETFs).

Bitcoin and Ethereum opened the door to crypto ETFs this year, building on applications made in 2023. The Ripple community emphasized XRP's importance in the sector and its clear regulatory status, stating that it deserves to be the next crypto asset ETF.

This possibility may become a reality with the latest developments in the market. In an article published on X on Wednesday, researcher Anderson touched on several points supporting the view that the market is preparing for XRP ETFs.

Anderson first stated that Grayscale's decision to open an XRP Trust in September was a strategic move regarding the XRP ETF. The Ripple community is eagerly awaiting Grayscale's official ETF move, a leading asset manager. Meanwhile, other major crypto asset managers have taken official steps to list an XRP ETF. Bitwise filed its application with the US SEC on October 2.

Bloomberg financial analyst Eric Balchunas believes that Bitwise’s bold move regarding the $XRP ETF is unlikely to be approved under the current SEC chairman’s administration. Therefore, the analyst believes that Donald Trump will play a more critical role in the US presidential election.

However, asset manager Canary Capital has joined Bitwise in the ETF race. It filed a filing with the SEC on October 8. Notably, the initiative is Canary’s first foray into digital assets and is being led by Steven McClurg, who cited strong investor demand for alternatives to Bitcoin and Ethereum as the driving force behind the initiative.

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