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- The SEC must decide on multiple spot XRP ETF filings between October 18–25, 2025, a ruling that could drive institutional adoption or stall momentum.
- The U.S. Office of the Comptroller of the Currency is expected to decide on Ripple’s national banking license application by late October.
- With both ETF approvals and a banking license on the line, October could define Ripple’s future role in U.S. finance and XRP’s market outlook.
Ripple is heading into one of the most critical months in its history as the U.S. Securities and Exchange Commission (SEC) prepares to issue verdicts on multiple spot XRP exchange-traded fund (ETF) applications. Decisions are scheduled between October 18–25, with issuers such as Grayscale, 21Shares, Bitwise, CoinShares, WisdomTree, Canary Capital, and Franklin Templeton awaiting rulings.
The SEC had already delayed once, using its 60-day extension, meaning October is now the final deadline. Approvals would mark a watershed moment for XRP, giving institutional investors a regulated entry point into the asset. Rejections, however, would stall Ripple’s ambitions to broaden adoption within traditional financial markets.
Crypto lawyer Bill Morgan emphasized the stakes, calling October a “make-or-break” month for Ripple.
XRP Price Under Pressure
Market reaction has already been turbulent. Following the SEC’s postponement, XRP slipped below the $3 mark, erasing recent gains. On-chain analyst Ali Martinez warned that unless XRP quickly regains the $3.30 level, it risks deeper losses, potentially sliding toward $2.60 or even $2.
While ETF approval could reverse bearish momentum by unlocking liquidity and boosting confidence, traders remain cautious until regulatory clarity emerges.
Also Read: XRP vs RLUSD – How Ripple’s Stablecoin Could Actually Boost XRP Demand
Ripple’s Banking License Application
Adding to the pressure, Ripple is also awaiting a verdict on its U.S. national banking license from the Office of the Comptroller of the Currency (OCC). Though technically subject to a 120-day review period that ends in late October, analysts argue the real process could take 12–18 months.
If successful, Ripple would secure status as a federally regulated trust bank, enabling it to hold RLUSD reserves directly with the Federal Reserve and significantly boosting its credibility in the banking sector.
The Road Ahead
With its SEC lawsuit resolved, Ripple now faces two pivotal regulatory outcomes in the same month. ETF approvals could open the doors to institutional capital, while a banking license would anchor its role in U.S. finance.
Whether October 2025 becomes a launchpad for Ripple’s expansion or a roadblock to adoption will depend on these rulings. As Bill Morgan put it: “By the end of October, a lot could happen at once.”
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
