The U.S. PPI monthly rate in August was 0.2%, in line with expectations of 0.10%. The previous value was revised from 0.10% to 0%.
The annual rate of PPI in the United States in August was 1.7%, in line with expectations of 1.8%. The previous value was revised from 2.20% to 2.1%.
After the release of the US PPI data, the swap market remained stable, and it is expected that the Federal Reserve will cut interest rates by a total of 100 basis points this year. After the data was released, the US dollar index DXY rose more than ten points in the short term and is now at 101.76.
PPI has little impact on the market, but a new action by Grayscale has brought about significant fluctuations.
FOX BUSINESS reported that Grayscale will launch the first US XRP Trust Fund, paving the way for the potential launch of an XRP ETF in the future. It is reported that this is a so-called "closed-end" fund designed to provide qualified investors with direct investment opportunities in XRP.
XRP surged upon hearing the news!
After the Bitcoin and ETH ETFs were approved, everyone was wondering what the next ETF would be. Although many people are optimistic about SOL, which has been in the spotlight this time, and even though VANECK SOLANA TRUST has been filed, as I initially judged, SOL does not meet the conditions for passing the ETF because the SEC believes it is a security.
The prerequisite for an ETF to be approved is that the SEC recognizes that it is not a security. So the prerequisite for an ETF is that it has won the lawsuit against the SEC!
The lawsuit between XRP and the SEC lasted for nearly 10 years, and suddenly there was a result in August. I read in the historical article: Ripple XRP Judgment Finale! Penalty of 125 million US dollars!
Although the SEC seems a little dissatisfied and has filed an appeal, this kind of lawsuit is basically difficult to overturn later. The SEC just thinks the fine is not as good as expected, so it will just pay a little more next time.
From a legal perspective, XRP has basically obtained protection rights.
In addition, XRP is the undisputed big brother in the payment industry, whether it is traditional finance or blockchain finance, and has been deeply involved in blockchain finance for more than ten years, and there is no lack of consensus!
On September 3, Ripple announced key announcements released in South Korea and Japan this week. Ripple and the XRP community are committed to bringing new programmability to the XRPL development ecosystem in 2025 through the XRPL EVM sidechain (already in progress), including smart contracts, and exploring native functions on the XRPL mainnet. That is to say, cross-chain Ethereum. Once the technology progresses, it is conceivable that XRP will become an oligopoly in the crypto world!
At the same time, if XRP can pass the ETF in the future, it will also benefit other tokens in the payment track, such as ACH and CELO.
If XRP is the third ETF, then who will be the next ETF after XRP? Whoever wins the lawsuit will win!
(The crypto industry is highly volatile, this is just a sharing of opinions, not investment advice)
