Ripple CTO David Schwartz Steps Down but Remains Influential
David Schwartz, Ripple’s Chief Technical Officer, said he will stop doing his daily duties at the end of the year. At first, traders were worried about Ripple’s future technological direction and the development of the XRP Ledger after he left.
But Schwartz told the community that he would still be active as CTO Emeritus and join Ripple’s board of directors. His continued involvement is meant to keep people’s confidence high during this time of change and show that he is still committed to Ripple’s mission and the long-term growth of the ecosystem.
Leadership Change Coincides With Regulatory Inflection Point
As Ripple pursues a US-chartered banking license and seeks to compete with SWIFT in global remittances, Schwartz’s recent announcement aligns strategically with this goal. Ripple aims to integrate blockchain technology more thoroughly into conventional financial systems worldwide.
The leadership changes during this critical phase could influence investor perceptions regarding the project’s execution strength and continuity. Schwartz’s involvement on the board ensures experienced strategic oversight, mitigating disruption risks and supporting Ripple’s regulatory and institutional ambitions.
ETF Issuers Withdraw Filings to Accelerate SEC Approvals
Recently, 21Shares, Bitwise, Canary Capital, Grayscale, and WisdomTree, some of the biggest ETF issuers, pulled their 19b-4 filings for XRP-spot ETFs. This action came after the SEC asked for it in line with new generic listing standards that were meant to make the ETF approval process much easier.
People generally see these withdrawals as good steps toward speeding up the launch of ETFs. With the new rules, eligible crypto-spot ETFs can skip long review times, which could mean that several approvals and launches could happen at the same time within weeks.
Recommended Article: Mike Novogratz Admits He Misjudged XRP’s Strength and Community
Legal Clarity Strengthens XRP’s ETF Launch Prospects
After the SEC v. Ripple case was thrown out in August, XRP’s regulatory environment became much clearer. Court decisions made it clear that XRP is not a security, which is in line with the SEC’s new rules for listing commodity-based ETFs. This clears up a lot of legal questions.
The decision by Judge Analisa Torres in 2023 that programmatic XRP sales did not pass the Howey Test’s third prong was the most important one. ETF issuers are now on solid legal ground because there are no more regulatory barriers. This makes it much more likely that XRP-spot ETFs will be approved soon.
ETF Launch Timeline Centers On Early October
Updated SEC filings say that XRP-spot ETFs could start trading as early as Friday, October 3. Some issuers won’t make their final decisions until late October or November, but the generic listing standards let them launch at the same time before these dates.
Grayscale’s big day is October 18, 21Shares’ big day is October 19, and Bitwise’s big day is October 20. Because of the changes in regulations, people who watch the industry expect a coordinated rollout that could line up the launch schedules of several issuers to have the biggest effect on the market.
XRP Short-Term Direction Hinges on Institutional Flows and ETF News
XRP ended the day on September 30 at $2.8463, down 1.26% and ending a four-day winning streak. Traders are keeping an eye on important support levels at $2.8 and $2.5. Resistance levels are at $3, $3.2, and the all-time high of $3.66.
The direction of prices in the short term will probably depend on news about ETF launches, flows of institutional ETFs, and changes in regulations in general. If the market is feeling good and the ETF rollout goes well, XRP could easily break through the $3 psychological barrier.
Bullish and Bearish Scenarios Shape Near-Term Outlook
If ETFs exit the market, face regulatory delays, or if companies are slow to adopt the technology, XRP may decline to a support level of $2.5. Conversely, positive indicators such as significant ETF inflows, BlackRock’s participation, increased corporate treasury utilization, and obtaining a banking license could lead to XRP breaking above $3.2.
The inflow of ETFs and regulatory developments are crucial; rapid institution adoption could foster long-term price growth, while complications in legislation or ETF procedures might dampen immediate market enthusiasm.
XRP Future Hinges on Regulatory Milestones and Institutional Demand
The future of XRP now depends on how regulatory milestones and institutional participation levels interact with each other. ETF approvals get rid of structural barriers, and new laws like the Market Structure Bill will affect long-term adoption trends in both the retail and institutional markets.
If the launches of ETFs go well and there is strong demand, XRP could quickly break through previous highs. On the other hand, delays or bad changes in the law could make consolidation phases last longer before a big price breakout happens.
