Ripple backs SEC's proposed crypto asset regulation framework; XRP ETFs see minor outflows after 13-week inflow streak as price consolidates at $1.33.
Regulation & Gov ·
Ripple has endorsed the SEC's proposed Regulation Crypto Assets framework, arguing that clearer legislation should replace case-by-case regulatory enforcement. The company specifically advocated that an asset's classification as a security should hinge on the underlying investment contract rather than the token itself. In related developments, Ripple expanded institutional offerings through 24/7 RWA perpetual swaps via Ripple Prime and partnered with Cross River Bank to integrate its RLUSD stablecoin into banking infrastructure.
Momentum in XRP-linked ETFs has stalled following a 13-week streak of net inflows. The products recorded minor outflows below $2 million in the week ending October 15, marking a sharp reversal from prior weeks that saw inflows as high as $75 million. A single positive day on October 21 brought inflows, but the amount remained under $1 million, suggesting institutional appetite has cooled alongside broader market weakness.
XRP tested resistance near $1.40 but retreated to $1.33 following market pullback. The asset has held support above $1.30, though technical indicators remain mixed. On-chain metrics show the average holder over the past year is underwater by modest margins, placing the token in a comparatively lower-risk zone by historical standards, though this alone does not forecast a directional move. Elevated exchange activity points to potential near-term volatility.