Leading altcoin Ripple (XRP) has been moving higher today, climbing about 6% after a period of weakness that saw it lag alongside other cryptocurrencies. Much of that weakness came off the back of hotter-than-expected inflation data and warnings from major U.S. retailers that price pressures could intensify in the months ahead. Specifically in XRP’s case, the pullback can also be attributed to the Securities and Exchange Commission (SEC) postponing its decision on whether the token will be allowed in upcoming ETFs.
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While those factors weighed on sentiment earlier, momentum has been building in parallel within derivatives markets. XRP futures open interest at the CME recently surged past the $1 billion mark – the fastest climb to that threshold in the exchange’s history, achieved in just over three months. The milestone reflects rising institutional engagement, and with the broader CME crypto-futures complex also surpassing $30 billion in open interest, it points to a market that is gaining both depth and maturity.
So, is now the time to buy XRP? Despite the lingering uncertainty, top investor Keith Noonan thinks current conditions may offer an opportune entry point, noting that there is “one significant catalyst on the horizon that suggests that now could be a good time to invest in the cryptocurrency.”
In a recent update, the SEC announced that it has delayed decisions on two XRP-focused ETFs that were initially expected to be made this month. The ruling on the Grayscale XRP Trust is now set for October 18, while the decision on the 21Shares Core XRP Trust is scheduled for October 19.
Although the postponement has fueled uncertainty about whether XRP will ultimately be included in publicly traded funds, the 5-star investor thinks there are strong reasons to believe approval is still likely.
For one, current SEC chairman Paul Atkins has been very supportive of the crypto sector and has pushed for looser regulation, a stance that represents a clear shift from his predecessor, known crypto foe Gary Gensler. Combined with executive orders from the Trump administration encouraging broader adoption of digital assets and other recent policy signals, these developments suggest the SEC could be preparing to greenlight XRP’s inclusion in ETFs, and that’s why Noonan thinks that buying XRP before October hits could be a “smart move.”
“While higher-than-expected inflation and a slower path to interest rate cuts could introduce bearish pressures for the token, political and regulatory catalysts suggest paths to more gains this year,” Noonan summed up. (To watch Noonan’s track record, click here)
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Disclaimer: The opinions expressed in this article are solely those of the featured investor. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.