SEC Chairman Highlights Crypto as Priority, XRP ETF Moves Ahead

TLDR

• SEC Chairman Paul Atkins has announced that crypto is a top priority for the agency.
• The SEC has requested issuers of XRP, Solana, Cardano, and Dogecoin ETFs to withdraw pending filings.
• This request is part of the SEC’s new approval process, which aims to speed up crypto ETF approvals.
• More than a dozen funds have filed for an XRP ETF, with deadlines set for the coming weeks.
• Analysts predict that XRP could break through its $3.60 resistance level and see significant price movement in October.

On Monday, September 29, Paul Atkins, Chairman of the U.S. Securities and Exchange Commission (SEC), highlighted crypto as a top priority. This statement has generated excitement, particularly within the XRP community. The remark aligns with growing speculation that the market may see significant changes in the near future, with XRP at the center.

SEC’s Recent Request on Crypto ETFs

The SEC’s latest actions have raised eyebrows in the crypto space. Just hours after Atkins’ statement, journalist Eleanor Terrett reported that the SEC requested issuers of XRP, Solana, Cardano, and Dogecoin ETFs to withdraw pending filings. Initially, many saw this as a setback for the crypto community. However, Terrett clarified that the request aims to speed up the approval process.

The SEC’s move is aligned with new standards for crypto ETFs. The commission recently approved generic listing standards, which remove the need for issuers to submit individual 19b-4 filings. Instead, issuers will only need to submit an S-1 filing, expediting the process and allowing faster approval.

With more than a dozen funds already filing for an XRP ETF, the market’s attention now turns to the upcoming developments. The timing coincides with key deadlines in the coming weeks, sparking optimism within the XRP community.

XRP Expected to Surpass $3.60 Resistance

XRP has faced repeated challenges in breaking through the $3.60 resistance level. However, analysts predict that October could bring a breakthrough for the altcoin. Some experts believe that the launch of the first XRP ETF will trigger a surge in demand.

Market sentiment is shifting toward the possibility of significant price movements. With institutional interest growing, XRP could soon see prices between $5 and $7 in the short term. Ripple’s ongoing partnerships with major financial players are expected to further fuel this momentum.

Long-term projections for XRP remain even more promising. Analysts suggest that XRP may reach $10, driven by increased institutional investments and stronger partnerships.