Amidst the autumn chill of September’s waning days, the XRP cosmos shimmers with intrigue. Spot ETFs, stablecoin serenades, and price quivers conspire in a ballet of hope and hubris. Let us unfurl this tapestry of crypto chaos.
ETFs: A Bureaucratic Waltz
The REX-Osprey XRP ETF (ticker XRPR) pirouetted into existence mid-September, a firstborn in the SEC’s frosty cradle. Yet, the commission’s desk groans with pending petitions, their fates dangling like icicles on a thawing roof. October 18 looms-a date etched in Grayscale’s ledger-as 21Shares, Bitwise, and others await the SEC’s nod or a bureaucratic slap. Eleanor Terrett, erstwhile Fox scribe, whispers of 19b-4 filings being yanked, a move some optimists claim will “accelerate the future.” Bloomberg’s Balchunas, ever the pragmatist, sighs: “We thought this might happen. Makes sense. Just not sure how… yet.” 🤡
“This was something we thought could happen. It makes sense as you don’t need 19b-4s in the post-GLS world. Just not sure how the launch schedule will work yet. More will be revealed soon..”
RLUSD: A Phoenix in Disguise
Ripple’s stablecoin, RLUSD, emerged from 2024’s ashes, its 1:1 USD peg a fragile promise. Uphold, Bitso, and Moonpay first cradled it; Kraken and Gemini later joined the charade. Now Bybit, that crypto jester, adds RLUSD/USDT and BTC/RLUSD pairs, as if to say, “Behold, the future!” Its $790M market cap-a mere whisper compared to USDT’s titan roar-climbs like a moth to a flame. Will it ascend to stardom or flicker out? Only time, that merciless critic, will judge. 🐝
XRP: A Love-Hate Affair
XRP’s price, a tempest in a teacup, briefly danced above $2.90 before retreating to $2.85-a 0.5% dip that feels like a betrayal. Trader “qwatio,” in a fit of 20x bravado, bet $17.6M against the tide. The market, ever the poet, liquidated them, reducing $4.22M to $653K in three days. A cautionary tale: hubris meets market’s wrath. Meanwhile, Mikybull Crypto croons of a “mega breakout,” while EGRAG CRYPTO scribbles technical charts predicting a plunge. The crowd, divided as ever, watches the drama unfold. 💥
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2025-09-30 16:36