XRP ETFs, RLUSD Growth & Price Outlook Analysis

The landscape for XRP investment products is poised for potential expansion as the US Securities and Exchange Commission (SEC) considers multiple spot ETF applications. Following the launch of the REX-Osprey XRP ETF (XRPR) in mid-September—the first US-listed spot ETF offering direct exposure to Ripple’s native token—several other prominent financial firms await regulatory decisions. Grayscale’s spot XRP ETF faces a critical October 18 deadline, while applications from 21Shares, Bitwise, Canary Capital, and WisdomTree are scheduled for review shortly thereafter.

A significant procedural shift could accelerate the approval timeline. Former Fox Business journalist Eleanor Terrett revealed that the SEC has requested issuers of XRP and other crypto ETFs to withdraw their 19b-4 filings following the approval of generic listing standards. This regulatory streamlining has generated optimism among market participants, with Bloomberg’s Eric Balchunas noting, “This was something we thought could happen. It makes sense as you don’t need 19b-4s in the post-GLS world.” The development suggests the SEC may be preparing for a wave of similar investment products, potentially transforming XRP’s accessibility to traditional investors.

Ripple’s dollar-pegged stablecoin, RLUSD, continues its steady market expansion since launching toward the end of 2024. Initially supported by exchanges including Uphold, Bitso, Moonpay, and CoinMENA, the stablecoin has recently secured listings on major platforms Kraken and Gemini. The most recent addition to RLUSD’s trading ecosystem is Bybit, which has introduced multiple trading pairs including RLUSD/USDT, BTC/RLUSD, ETH/RLUSD, XRP/RLUSD, and MNT/RLUSD.

This broadening exchange support has translated into measurable market growth. RLUSD’s market capitalization has climbed to approximately $790 million, positioning it as the 14th largest asset in the competitive stablecoin category. While still significantly smaller than industry giants USDT and USDC, RLUSD’s consistent expansion demonstrates Ripple’s successful execution of its stablecoin strategy and growing acceptance within the cryptocurrency ecosystem.

XRP’s price action remains characterized by significant volatility, recently experiencing a brief surge above $2.90 before settling around $2.85—representing a modest 0.5% daily decline. This price movement triggered substantial consequences for leveraged traders, most notably an anonymous trader using the pseudonym “qwatio” who opened a $17.6 million 20x short position on XRP. According to Onchain Lens data, this trader faced liquidation when XRP approached $2.9115, resulting in their $4.22 million Hyperliquid deposit shrinking to just $653,000 over three days.

The crypto community remains divided on XRP’s near-term direction. Bullish analysts like Mikybull Crypto anticipate a “mega breakout” could be imminent, while others including EGRAG CRYPTO point to technical indicators suggesting potential short-term downward pressure. This divergence in analyst opinion reflects the broader uncertainty surrounding XRP’s price trajectory as market participants weigh regulatory developments, ETF prospects, and broader cryptocurrency market trends against technical chart patterns.