Today's XRP news: ETF approval accelerates, the first hybrid fund is listed, analysts predict price impact reaching a new high of $3.66.

The SEC has approved new listing standards for ETFs, eliminating the 240-day review process, paving the way for Crypto Assets ETFs such as Ripple (XRP). At the same time, the first XRP hybrid ETF officially launched today, with multiple analysts predicting that institutional funds are about to pour in, which is expected to push XRP's price past the historic high of $3.66. With both technical and fundamental favourable information, the long positions target for XRP is clearly visible.

SEC approves listing standards for Crypto Assets ETF, the gate is about to open

The SEC approved rule change requests from the Chicago Board Options Exchange, Nasdaq, and the New York Stock Exchange, allowing commodity trust shares to be listed and traded under a standardized framework. This decision is of significant importance to XRP traders.

Revolutionary Changes Brought by Universal Listing Standards

The general listing standards for commodity-type stocks (GLS) cover Crypto Assets spot exchange-traded funds (ETF). Crucially, GLS eliminates the necessity for exchanges to approve applications for Crypto Assets ETFs that meet the above standards. This means that exchanges no longer need to submit Form 19-b, which would initiate the SEC's review process, typically taking a full 240 days.

Matt Hougan, Chief Investment Officer of Bitwise Invest, commented on the potential impact of this approval: “The SEC ( passed the ETF rules at the end of 2019, establishing universal listing standards for traditional ETFs, resulting in the following: the issuance rate of ETFs increased from about 117 per year to about 370 per year. If the universal listing standards apply to crypto assets this fall, we expect a similar increase in the issuance rate of ETFs.”

Bloomberg Industry Research ETF analyst James Seyffart also stated: “Wow! The SEC has approved a universal listing standard for 'Commodity-Based Trust Shares', which includes Crypto Assets ETPs. This is the Crypto Assets ETP framework we have been waiting for. Get ready for a wave of spot Crypto Assets ETP listings in the coming weeks and months.”

) XRP Spot ETF is about to be launched

In light of the resolution of the SEC v. Ripple case, the SEC may also approve the pending XRP spot ETF applications. The U.S. Court of Appeals approved the joint dismissal agreement between Ripple and the SEC in August, ending this protracted legal dispute. In 2023, Judge Torres ruled that the programmatic sales of XRP do not meet the third prong of the Howey Test, classifying XRP as a non-security asset.

Attorney John E. Deaton, a friend of the court, commented on the significance of the ruling for ETF issuers: “Without this ruling, these spot ETFs may never come into existence.”

Currently, 11 issuers have submitted applications for XRP ETFs, covering various products such as pure spot, leveraged, and futures. Among them, 7 issuers have submitted spot ETF applications, awaiting the SEC's final decision, including 21Shares, Bitwise, Canary Capital, CoinShares, Franklin Templeton, Grayscale, and WisdomTree. The final decision deadline is from October 18 to 25, but Franklin Templeton's final deadline is November 14.

REX-Osprey XRP ETF listed today

On September 18, the first US XRP ETF is set to launch, which will serve as a touchstone for traders in the XRP spot ETF market. The REX-Osprey XRP ETF (XRPR) utilizes a hybrid investment strategy, investing in XRP, XRP ETFs, and XRP derivative products.

Nate Geraci, CEO of NovaDius Wealth Management, warned not to underestimate the demand for XRP spot ETFs: “People are seriously underestimating the demand from investors for spot XRP and SOL ETFs, just like they did for spot BTC and ETH ETFs.”

The launch of the GLS and REX-Osprey XRP ETF marks the arrival of a new era and completely turns around the anti-encryption movement of the Biden administration and Chairman Gensler.

Price Trend and Technical Analysis: Target Price 3.2 USD, followed by 3.66 USD

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(Source: Trading View)

On September 17, XRP rose by 1.53%, continuing the previous day's increase of 1.29%, closing at $3.0838. The token outperformed the market (0.73%) and closed above the psychological barrier of $3. Traders are monitoring the following technical levels:

· Support: $3, $2.8, and $2.5

· Resistance levels: 3.2 USD, 3.335 USD, and historical high of 3.66 USD

In the short term, several key events may drive price movements:

1. The launch and demand of REX-Osprey XRP ETF

2. Approval or postponement of the XRP spot ETF

3. Blue chip companies holding XRP as treasury reserve assets

4. Regulatory Milestones: Ripple's application for a U.S. chartered bank license, developments related to the Market Structure Bill, and SWIFT news

) Bullish Scenario: Break Above $3.66 Historical High

The following factors may drive the price of XRP to a new high:

· REX-Osprey XRP ETF report shows strong demand

· BlackRock applies for iShares XRP Trust, SEC approves XRP spot ETF

· Blue-chip companies adopt XRP as a financial reserve asset

· Ripple has obtained a chartered banking license in the United States, and the Senate has passed the Market Structure Bill.

These events may drive XRP to first break through $3.2, then $3.335, and finally reach the historical high of $3.66.