Should You Buy XRP (Ripple) Before Oct. 18?

Core Insights - XRP is the third-largest cryptocurrency with a legitimate use case as a bridging currency in Ripple's payment network, facilitating instant and low-cost money transfers for financial institutions [2] - The SEC's lawsuit against Ripple in 2020 suppressed XRP's price, but a settlement in August 2023 led to a record high for the token [3][8] - Anticipation is building for the SEC's approval of the first spot XRP ETF by October 18, which could attract billions into the cryptocurrency market [4] Regulatory Developments - The SEC's approval of spot ETFs has been beneficial for Bitcoin, which has seen significant inflows and price increases since the approval of its first ETFs in January 2024 [6] - The SEC has recently adopted new Generic Listing Standards (GLS) that may expedite the approval process for spot XRP ETF applications [7] Market Dynamics - Spot ETFs provide a safer investment vehicle for cryptocurrencies, as they are regulated and offer protection for investors, potentially leading to increased participation in the market [5] - Seven providers are awaiting SEC decisions on spot XRP ETFs, with Grayscale having the earliest deadline [6]