Lawyer Sees Bargain In XRP While Spot ETF Filings Move Forward

Pro-XRP lawyer John Deaton raised awareness to a dip in XRP’s price this week as several ETF issuers updated S-1 filings with ticker symbols, a move that market watchers say brings the products closer to launch even as a US government shutdown slows regulatory ￰2￱ to price feeds, XRP traded around $2.57 at the time of reporting, up 7.5% for the day after tumbling to $1.20 over the weekend and staging a recovery of more than 100%. ETF Filings Move Forward Based on reports from ETF watchers, amendments have gone in for a number of spot XRP ETF ￰3￱ analyst Nate Geraci posted that firms including Grayscale, Bitwise, Franklin Templeton, 21Shares, WisdomTree and Canary Capital filed ￰4￱ documents now list ticker symbols — Grayscale’s would be GXRP, Franklin Templeton’s XRPZ and Canary’s XRPC — which market participants view as one of the last procedural steps before approval.

Grayscale’s decision was scheduled for October 18, while Bitwise’s had an expected date of October ￰5￱ is a bit cheaper today as well. ￰0￱ — John E Deaton (@JohnEDeaton1) October 11, 2025 Regulatory Pause Hits Timetable Reports have disclosed that the ongoing US government shutdown has reduced the Securities and Exchange Commission’s capacity to finish certain review ￰6￱ Eleanor Terrett said the agency is operating with a skeleton crew and has suspended functions that include accelerating registration statements and declaring S-1s effective, steps required for funds to begin ￰7￱ a new generic listing standard now in place and the SEC asking issuers about withdrawing related 19b-4 filings, conventional deadlines may not ￰8￱ markets put the chance of the shutdown becoming the longest in US history at about 49%, which adds uncertainty to ￰9￱ Action And Community Reaction Deaton posted a light comment on X, writing “XRP is a bit cheaper today,” which was followed by a thoughtful ￰10￱ remark echoed a common refrain among XRP holders who see the current lull as an entry point while institutional products near ￰11￱ press time, XRP’s rebound from a low near $1.20 to roughly $2.57 shows how quickly the token moved in recent ￰12￱ note that continued filing updates suggest issuers expect approvals once normal SEC operations ￰13￱ that the market cap of XRP went down by a ~$100Billion (a recorded low of $1.17), then bounced back up a ~$100Billion in MC on very little Net Flows in comparison.

Trust, when they’re ready to rocket this thing to infinity, it won’t take as much money as anyone thinks. ￰1￱ ￰14￱ — Chad Steingraber (@ChadSteingraber) October 10, 2025 Market Drops And Liquidations The broader crypto market suffered a rapid decline that intensified the ￰15￱ on market-cap metrics, total crypto value fell from $4.09 trillion at noon yesterday to about $3.3 trillion by nine PM (UTC), a loss of nearly $800 billion within nine ￰16￱ commentators pointed to heavy liquidations during that ￰17￱ Steingraber said the crash triggered what he called the largest XRP long liquidation in history, around $422 million, and he pointed to unusual exchange flows as part of the post-crash ￰18￱ image from Vecteezy, chart from TradingView