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Coinjournal
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Bitwise files Form S-1 for XRP ETF with SEC
- Bitwise has submitted a Form S-1 filing for approval to launch an XRP ETF with the SEC.
- Bitwise is the first company to officially apply for approval to issue an exchange-traded fund tracking the daily price of XRP.
- The filing follows Bitwise's submission for an XRP ETF Trust in Delaware.
- The SEC's decision on the appeal of the 2023 court ruling on the status of XRP will be interesting for the XRP ETF application.
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Cryptoslate
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Bitwise seeks approval for first spot XRP ETF despite regulatory uncertainty
- Bitwise has filed an application for the first spot XRP exchange-traded fund (ETF) with the SEC.
- The proposed ETF aims to directly hold XRP and is pending approval.
- Bitwise chose XRP for its ability to facilitate cross-border payments and its strong ecosystem.
- Market analysts express doubts about the approval of the XRP ETF under the current regulatory environment.
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TheNewsCrypto
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Ripple Mints Additional 1.35 Million RLUSD Stablecoin on XRPL
- Ripple has minted an additional 1.35 million RLUSD stablecoin on the XRP Ledger.
- This move is part of Ripple's efforts to increase liquidity and test RLUSD in different environments.
- Ripple has been simultaneously minting RLUSD on the Ethereum network.
- The complete launch of RLUSD is still dependent on regulatory clearance.
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Bitcoinist
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Spot XRP ETF By Bitwise: Experts Explain The Odds For Approval
- Bitwise Asset Management has filed for a spot XRP exchange-traded fund (ETF) with Delaware's Division of Corporations.
- The filing aligns with precedents set by BlackRock and Fidelity for Bitcoin and Ethereum ETFs.
- Experts speculate that the approval of a spot XRP ETF depends on political outcomes, including the US presidential elections.
- The likelihood of approval is also tied to the potential appeal in the Ripple Labs vs. SEC case.
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Bitcoinsensus
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Bitwise’s XRP ETF Filing and a New Crypto Funds Player
- Bitwise filed for an XRP ETF on September 30 and it is registered in Delaware through CSC Delaware Trust Company.
- Bitwise's decision to file for the XRP ETF is unexpected and bold, inspiring confidence in the crypto sector.
- The choice to register in Delaware is strategic, as the state has favorable regulations and taxes for ETFs.
- Although the process may not be quick, the filing of the XRP ETF is a strong signal for the crypto market.
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Crypto-News-Flash
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Ripple’s SCB Enhances International Transfers with Thunes Partnership
- SCB partners with Thunes to expand instant remittance services, covering 26 countries with 17 currencies through SCB Easy.
- SCB continues using RippleNet to enhance cross-border payments, ensuring fast, secure, and transparent global transfers.
- Through the partnership with Thunes, SCB Easy app users can send money to multiple countries in various currencies, aiming for quick and affordable international transfers.
- This collaboration combines Thunes' payment network with Ripple's blockchain technology, providing SCB with a competitive advantage in the digital banking market.
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Cryptopotato
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Ripple After the Crash: What’s Next for the XRP Price?
- XRP's price experienced a sharp drop after a brief period of gains from late September, bringing it back to its starting position.
- Buy volume crashed, indicating a loss of optimism for higher price levels.
- Key resistance remains at $0.68, and key support remains at $0.54.
- The daily MACD shows a potential bearish cross, with lower highs on the histogram favoring sellers.
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Cryptonewsz
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XRP tanks 7% despite the Dubai License, why?
- XRP is down 7.2% in the last 24 hours despite securing approval from Dubai regulators and the registration of Bitwise XRP ETF trust entity in Delaware.
- Increased discussions around a potential SEC appeal by October 7th have impacted the market sentiment towards XRP.
- Alex Thorn from Galaxy Digital believes the XRP ETF will fail if the SEC files a countermotion on October 7th.
- Marc Powers, a former SEC enforcement attorney, predicts that the SEC is likely to appeal and challenge the previous rulings.
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Crypto-News-Flash
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XRP Eyes $3 as Bitwise Files for Spot Ripple ETF—Is a Breakout Imminent?
- Bitwise is preparing for an XRP ETF as its application has been found on the State of Delaware’s Division of Corporations’ website.
- Experts clarify that this is just the initial stage of preparation and does not guarantee a registration application with the SEC.
- Bitwise's move follows Grayscale Investments' disclosure of a potential XRP ETF through their Grayscale XRP Trust.
- The price of XRP has declined by 3.6% amidst the broader market pullback, but on-chain activities and trading volume remain positive.
- Analyst Amonyx predicts XRP could approach the $589 price point by the end of the bullish cycle based on historical chart analysis.
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Crypto-News-Flash
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Ripple Identified as Major SWIFT Rival—XRP Set to Dominate Global Finance
- Ripple is emerging as a major competitor to SWIFT in the cross-border payments market.
- The company has formed partnerships with fintech firms like Airwallex and Nium.
- A report by Houlihan Lokey highlights Ripple's growing role and advantages in the payment industry.
- Ripple recently received approval from the Dubai Financial Services Authority, expanding its operations in the UAE.
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Crypto-News-Flash
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Ripple Unveils Simplified Vault and Lending Updates on XRP Ledger
- Ripple has announced improvements to its Vault and Lending Protocols on the XRP Ledger.
- The redesigned Single Asset Vault (SAV) now holds assets directly, increasing efficiency.
- The updated Lending Protocol eliminates unnecessary processes, providing a seamless lending experience.
- Ripple's compliance-first strategy aims to boost trust among institutional users.
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TheNewsCrypto
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XRP Faces Market Headwinds Despite Bitwise ETF Filing
- XRP's price fell over 4% to $0.5843 despite Bitwise ETF filing news.
- Ripple's unlocking of 1 billion XRP tokens from escrow raises concerns about increased supply.
- XRP price slip of over 4% in 24 hours, despite positive Bitwise ETF filing news.
- Recent geopolitical unrest and increased XRP supply contribute to price dip.
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Crypto-News-Flash
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Ripple News: Gensler’s Last-Day Appeal Tactic—What’s the SEC Planning?
- Ripple's legal victory stands firm, though the SEC may file a last-minute appeal.
- The SEC's slow decision process is typical and not necessarily a sign of strategic delay.
- Speculations arise on the SEC's intentions, but former SEC attorney dismisses concerns of strategic delay.
- Ripple's reduced penalty of $102 million in the XRP case is a positive development.
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Cryptonews
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Ripple’s RLUSD Stablecoin to Boost XRP, Provide Liquidity and Forex Use Cases
- Ripple's upcoming stablecoin, RLUSD, is expected to enhance XRP's utility and stability.
- RLUSD is currently in private beta testing on Ethereum mainnet and XRPL.
- It promises robust backing with USD deposits and government treasuries, audited monthly for transparency.
- Ripple aims for RLUSD to support cross-chain interoperability and liquidity on its DEX.
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Newsbtc
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XRP Price Fights to Regain Momentum: Will It Break Through??
- XRP price extended its losses and tested the $0.5785 support level.
- The price is now attempting a fresh increase but facing hurdles near $0.620.
- There is a key bearish trend line forming with resistance at $0.6220 on the hourly chart.
- The pair could start a fresh increase if it clears the $0.6220 and $0.6250 resistance levels.
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