The U.S. Securities and Exchange Commission (SEC) will enter a critical decision-making phase in October, focusing on the review of six applications for XRP Spot ETFs. These six applications are from Grayscale, 21Shares, Bitwise, Canary Capital, CoinShares, and WisdomTree. The SEC is expected to make rulings on these applications between October 18 and 24.

This news has attracted widespread attention in the cryptocurrency market. Currently, the trading price of XRP remains around $2.78, although there has been a slight decline of 0.25%, the market sentiment remains complex. Technical indicators show that the Relative Strength Index (RSI) of XRP is at 49, suggesting that the market may face some selling pressure.

However, despite on-chain data indicating that sellers seem to dominate, the Chaikin Money Flow indicator shows positive signals, suggesting that buying pressure may be strengthening. This contradictory market signal reflects investors' complex expectations regarding the upcoming ETF decision.

XRP community members have expressed their optimism on various social media platforms. Many believe that if the SEC approves these ETF applications, it could attract a significant influx of new funds into the XRP market, thereby driving up its price.

However, we should recognize that the SEC's decision-making process is often complex and unpredictable. While the community generally remains optimistic, investors should still act with caution and closely monitor regulatory trends and market changes. Regardless of the final outcome, this ETF approval will undoubtedly become an important milestone in the development of XRP.