The market sentiment has been severely impacted by the indefinite delay in the approval of the XRP Spot ETF due to the U.S. government shutdown. Data shows that whales holding between 1 million to 10 million XRP have sold over 440 million XRP in the past 30 days, valued at approximately 1.25 billion USD, exacerbating the dumping pressure and once pushing the XRP price below the critical support level of 2.8 USD. Although the previous approval of the General Listing Standards (GLS) brought optimism, the government shutdown and the SEC's lack of resources are becoming the biggest obstacles to institutional capital inflow. Technically, XRP has been weak recently, but Ripple's latest collaborations with countries like Bahrain, especially its global expansion of the RLUSD stablecoin, still provide a positive catalyst for the long-term outlook.

The SEC has instructed all issuers of ADA, DOGE, LTC, SOL, and XRP ETFs to withdraw their 19b-4 application documents. This move follows the SEC's procedural shift after approving the "Generic Listing Standards" (GLS) on September 17, indicating that the demand for the 19b-4 documents has been canceled. Market analysts believe this move signals that the SEC may choose to "approve in bulk" all encryption spot ETFs, eliminating the "first-mover advantage." Under the new framework, 7 XRP spot ETFs are expected to launch simultaneously in early October, and with BlackRock's potential involvement, the price of XRP is approaching $3, as the market is about to welcome a disruptive fourth quarter.

The U.S. Securities and Exchange Commission (SEC) suddenly required all XRP, Solana, Cardano, Litecoin, and DOGE Spot ETF issuers to withdraw their 19b-4 application documents. This unexpected move is not a regulatory crackdown but stems from the General Listing Standards (GLS) approved on September 18, which thoroughly simplifies the encryption ETF approval process. Analysts predict that this change will reduce the approval time for encryption ETFs from 9 months to 75 days, bringing unprecedented expansion opportunities to the market.

The U.S. Securities and Exchange Commission (SEC) suddenly requested all XRP, ADA, DOGE, LTC, and SOL Spot ETF issuers to withdraw their 19b-4 application documents. This dramatic shift means that the XRP Spot ETF may go live as soon as this week. Analysts believe that the approval of the General Listing Standard (GLS) has replaced the necessity of the traditional approval process, clearing the way for the simultaneous launch of 7 XRP Spot ETFs. The XRP price is currently hovering around the $3 mark, and investors are closely watching the potential launch of BlackRock's iShares XRP Trust.

XRP rose by 0.77% to $2.8 on Sunday, September 28, with the rebound momentum primarily driven by the favourable information from the U.S. SEC's approval of the General Listing Standards (GLS) for commodity trusts, which is expected to significantly accelerate the approval process for the XRP Spot ETF. Even more exciting is the news that Vanguard, the world's second-largest asset management company, is preparing to open access to encryption ETFs on its brokerage platform, marking a significant reversal of its anti-encryption stance. In the absence of BlackRock launching an XRP trust, Vanguard's entry could fill the institutional funding gap and become a key variable triggering a new round of rise in XRP and a major shift in market structure.

The U.S. Securities and Exchange Commission (SEC) has officially approved the rule change requests from Cboe, Nasdaq, and NYSE, allowing "Commodity-Based Trust Shares" to be listed and traded under a standardized framework. This initiative establishes a General Listing Standard (GLS) for encryption Spot ETFs, eliminating the need for a lengthy individual approval process. For XRP traders, this is another significant piece of favourable information following the legal victory, as this move could accelerate the approval of multiple Spot ETFs, including XRP, bringing new price catalysts for the Token and potentially pushing it to historic highs.