Bloomberg analysts predict a 95% chance of an XRP ETF approval by the SEC in October. Despite stablecoin growth, XRP adoption lags behind peers with only 2% of Real World Assets. XRP price hit $3.04 but faced rejection, driven by speculation around an ETF approval and increased institutional participation in XRP derivatives.

Demand for XRP futures rose 5%, totaling 2.69 billion XRP. Outstanding XRP futures contracts at the CME surged 74% to 386 million XRP, indicating stronger participation from professional fund managers. XRP monthly futures trade at a 7% premium, suggesting balanced leverage demand compared to altcoin market capitalization.

XRP has remained flat since August while the altcoin market advanced 14%. XRP’s momentum in August followed the settlement of a dispute with the SEC. The anticipation of a US XRP ETF approval has supported XRP’s price performance. Bloomberg analysts place the odds of approval at 90% or higher.

Ripple’s stablecoin RLUSD exceeded $700 million in assets, but nearly 90% was issued on the Ethereum network. XRPL accounts for only 2% of Real World Assets, trailing smaller blockchains. Some investors see XRPL as a key player in international payments or tokenization, but sustaining momentum to $3.60 may be challenging with XRPL’s modest $100 million in total value locked.

Read more at Coin Telegraph: XRP Rally To $3.60 Must Include More Than ETF Approval