#XRP Ripple released its XRP market report for the third quarter of 2024
Key Points
⚫️The status of XRP as a non-security remains the law of the land. Ripple submitted its Form C in response to the SEC's appeal, which does not pertain to whether XRP is a security.
⚫️Ongoing resistance from the SEC suggests that its lawsuit against Ripple is a key factor affecting the price of XRP.
⚫️Institutional interest in XRP investment products has continued to develop positively: Bitwise, Canary, and 21Shares have filed S-1 applications for an XRP ETF.
⚫️Leading issuer Grayscale launched XRP Trust and filed for the conversion of a multi-currency fund, including XRP, into an ETF.
Ripple also specifically noted the following:
Sometimes Ripple supports or transfers XRP to third parties, such as ETPs and trusts. In these cases, a reduced amount of XRP may return to escrow this month. While no broader market release is expected, this XRP will be reported as 'XRP held by Ripple'. @Peraspera ad astra
