XRP News Today: Spot ETF Delays Weigh, Bullish Outlook Persists

While SOL-spot ETFs may have gotten a first-to-market advantage over XRP, ETF issuers are looking to go live in November. Bitwise’s SOL-spot ETF trading volumes could serve as a proxy for XRP-spot ETFs, given XRP’s real-world utility.

Canary Funds and Bitwise have filed amended S-1s for XRP-spot ETFs, removing ‘delaying amendment’ language that gave the SEC control over spot ETF launches. The amendments could allow the launch of XRP-spot ETFs after a 20-day waiting period.

However, XRP-spot ETFs could launch sooner if the US government reopens. The SEC could greenlight all seven XRP-spot ETFs, given that the final decision deadlines have passed for six of the seven spot ETFs.

Market Structure Bill in the Spotlight

While analysts expect XRP-spot ETFs to drive demand for XRP, the Market Structure Bill could be another tailwind.

CryptoAmerica host and journalist Eleanor Terrett commented on the shifting regulatory landscape, stating:

“House Committee on Agriculture Chair Congressman Glenn Thompson spoke Thursday with Acting CFTC Chair Caroline Pham to discuss how the commodities regulator is preparing to expand crypto jurisdiction and rulemakings next year, anticipating passage of market structure legislation. It follows Pham’s meeting last week with SenateAG Chair John Boozman on similar matters.”

Analysts expect the Market Structure Bill to drive adoption of Ripple’s ODL and XRPL products on Main Street, crucially boosting XRP adoption.

Crypto commentator and investor Stern Drew stated:

“The Clarity Act is Ripple’s ultimate unlock. It legally separates digital commodities (like XRP) from securities, meaning Ripple can leverage XRP as a neutral bridge asset across regulated payment networks. Once enacted, Ripple’s ODL, RLUSD, and XRPL hooks can integrate directly with banks and stablecoin rails, enabling programmable liquidity and instant cross-border settlement without legal friction.”

XRP soared 14.69% on July 17 after the House passed the Market Structure Bill to the Senate, and hit an all-time high of $3.66 on July 18.

However, XRP has fallen sharply from its July 18 all-time high of $3.66, weighed down by delays to XRP-spot ETFs. XRP could break new ground if the Senate passes the Market Structure Bill and XRP-spot ETFs launch.