Pro-XRP lawyer John Deaton has drawn attention to XRP’s discounted price as ETF issuers update their S-1 filings with ticker symbols.
As the market awaits regulatory approval for XRP ETFs, Deaton offered a light remark on X, saying, “XRP is a bit cheaper today,” followed by a thoughtful emoji.
His comment comes as XRP trades slightly lower than last week’s high, despite pending spot XRP ETF approvals advancing to the final stage.
XRP ETFs Advancing to Approval
For context, late last week, ETF analyst Nate Geraci revealed that another batch of S-1 amendments had been filed for spot XRP ETFs. The list of issuers includes Grayscale, Bitwise, Franklin Templeton, 21Shares, WisdomTree, and Canary Capital — all seeking to launch their respective XRP investment products.
Notably, several filings have now added ticker symbols, which is one of the final steps before approval. Grayscale’s XRP ETF will trade under GXRP, Franklin Templeton’s under XRPZ, and Canary’s under XRPC. Geraci described this development as a sign that the industry is “getting close” to launch.
The SEC’s pending decisions on these applications were initially between mid and late October. In particular, Grayscale’s ruling is due on October 18 and Bitwise’s is on October 22.
Shutdown Stalls Approvals
However, the ongoing U.S. government shutdown has tempered the optimism as the SEC’s operational capacity drops. The agency has suspended certain review functions, including accelerating registration statements and declaring S-1s effective. These are necessary steps for ETFs to begin trading.
Crypto reporter Eleanor Terrett explained that the shutdown has left the SEC operating with a skeleton crew, delaying all pending ETF actions.
She added that with the generic listing standard now in effect and the SEC’s request for issuers to withdraw their 19b-4 filings, traditional deadlines may no longer apply.
According to Polymarket data, there is now a 49% probability that this shutdown could become the longest in U.S. history. This potential outcome further clouds the timeline for XRP ETF launches.
Market Outlook: Cheaper, But Closer
Despite the bureaucratic hurdles, XRP ETF issuers continue to refine their filings, suggesting confidence that approvals are inevitable once normal SEC operations resume.
Analysts interpret these amendments, especially the inclusion of ticker symbols, as an indication that the process is in its final stretch.
Deaton’s remark that “XRP is a bit cheaper today” resonates with the broader XRP community’s belief that the current lull represents a buying opportunity ahead of institutional inflows once ETFs go live.
In other words, while Washington stalls, Wall Street prepares, and the XRP community is watching closely. At press time, XRP is trading at $2.59, up 8% today. The coin’s price had dropped to an eleven-month low of $1.20 over the weekend but has since rebounded by over 100%.
Some market commentators believe that XRP ETFs going live this year could help the token’s price break past $10.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
