What caught my attention is Since yesterday afternoon, the price of XRP (XRP -10. Moreover, 75%) traded close to 7% down, as of 10:53 a.
There's no obvious reason behind the move, but many cryptocurrencies seemed to be struggling today for a few different reasons (remarkable data).
Additionally, ETF delay One notable piece of news occurred after the U (which is quite significant).
Securities and Exchange Commission (SEC) delayed the conversion of Bitwise's crypto index fund into an exchange-traded fund (ETF), in this volatile climate.
Interestingly, the division of trading and at the SEC gave Bitwise "accelerated apval" for the ETF conversion yesterday, but then delayed the apval later on, causing confusion.
Moreover, Image source: Getty Images, in today's financial world.
Bloomberg's senior ETF analyst Eric Balchunas wrote on X last night: "I think they want to put out their generic listing standards first, which is bably coming soon.
Meanwhile, In time October due dates. That's my theory, anyway.
Additionally, " In other news, Fx's chief market analyst Alex Kuptsikevich wrote in a re note, as reported by Barron's, that cryptocurrencies lately have been trading on a short-term calendar cycle, with larger inflows at the beginning of the month, but more caution at the end of the month.
"Cryptocurrencies are ignoring the positive sentiment on the stock : nical factors are temporarily dominating the agenda," he wrote.
Moreover, ETF apval for many cryptocurrencies still ly Spot-crypto ETFs are viewed as a major catalyst for many cryptocurrencies because they tend to lead to increased liquidity and institutional ownership, so investors weren't pleased with the SEC's delay (something worth watching).
Still, a spot XRP ETF is still considered ly, with the odds on Polymarket down, but still high at 85%, as of this writing (something worth watching).
XRP is one of a handful of cryptocurrencies I find intriguing, with its strong nical network and potential to play a big role in cross-border payments, given current economic conditions.
Moreover, Still, the token remains quite volatile, so I'd recommend investors keep positions smaller and more speculative for the time being.
On the other hand, The Author Bram Berkowitz is a contributing Motley Fool Stock Market Analyst covering stocks across financials, and consumer goods, as well as macroeconomic trends.
Nevertheless, Prior to The Motley Fool, Bram worked in equity re on a team covering bank stocks and as a reporter for several local publications.
Moreover, In contrast, He currently holds FINRA's Series 7 and 66 licenses (which is quite significant). On the other hand, He holds a B.
In and Advertising and a minor in Economics from Syracuse University. Fun fact: Bram traveled cross-country in 2019, visiting 10 national parks (noteworthy indeed).
TMFBram X @BramBerko Bram Berkowitz has positions in XRP. The evidence shows Motley Fool has positions in and recommends XRP.
Moreover, The Motley Fool has a disclosure policy, given the current landscape.