Ripple (XRP) News Today: September 16th
ETF updates, a multi-million greenback funding, and the latest efficiency of XRP. These are the primary matters we are going to contact upon within the following traces.
Spot XRP ETF Coming This Week
Perhaps essentially the most essential information surrounding Ripple and its native token is the upcoming launch of an exchange-traded fund with XRP because the underlying token.
The issuer of the product, REX-Osprey, described the funding car as the primary spot XRP ETF within the US, however the standard journalist Eleanor Terrett offered extra particulars about it. She claimed the product will function as a “spot ETF with extras” and can maintain XRP tokens, money, Treasuries, and a few derivatives.
Bloomberg’s Eric Balchunas not too long ago said the ETF (with the ticker XRPR) is scheduled to go stay on September 18. Other spot XRP ETFs, although, proceed to face setbacks.
Earlier this month, the US Securities and Exchange Commission (SEC) extended the evaluate interval for the product filed by Franklin Templeton for an additional 60 days, which signifies that the brand new resolution deadline is November 14, 2025.
Ripple’s Multi-Million Donation
On September 15, the corporate disclosed a $25 million funding in Accion Opportunity Fund and Hire Heroes USA. The funding, delivered in RLUSD, goals to increase entry to capital for small enterprise house owners and create extra profession alternatives for veterans and navy spouses.
“It can even equip entrepreneurs with digital cost instruments so communities throughout the US can thrive in in the present day’s quickly evolving financial system. This marks Ripple’s second $25 million donation this yr, underscoring the corporate’s ongoing dedication to giving again and increasing financial alternative,” the announcement reads.
Brad Garlinghouse, CEO of Ripple, mentioned small companies and veterans are two of “essentially the most highly effective engines of American progress, but each face boundaries that restrict their full financial influence.”
The crypto agency announced the information on its X account, claiming that this funding highlights how stablecoins can drive real-world influence. RLUSD is a USD-pegged stablecoin launched by Ripple in the direction of the tip of 2024. Over the previous a number of months, it has undergone some severe progress, and at present, its market capitalization is roughly $730 million.
XRP Returns to Green Territory
Probably pushed by the hype surrounding the launch of the REX-Osprey XRP ETF, the value of Ripple’s native cryptocurrency has reclaimed the $3 mark and at present trades at $3.04 (per CoinGecko’s information).
X consumer CRYPTOWZRD not too long ago suggested that the asset might expertise an “impulsive bullish transfer” ought to it clear the $3.1320 resistance goal. At the identical time, Ali Martinez warned that $2.80 is essentially the most essential assist stage.
Meanwhile, the quantity of XRP cash saved on main crypto exchanges continues to rise, signaling an elevated promoting stress. Currently, over 3.6 billion tokens are held on Binance alone, representing the very best stage ever.
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