Meanwhile, the Senate stalemate continued into day 14, with the government shutdown delaying the launch of XRP-spot ETFs.
On Tuesday, October 14, a US Senate vote to advance a stopgap funding bill failed for an eighth time.
The failed vote means that the SEC will continue operating with a skeleton staff, effectively freezing XRP-spot ETF launches. Crucially, a prolonged US government shutdown would delay institutional demand for XRP, potentially capping gains.
Greg Xethalis, General Counsel at Multicoin Capital, provided some clarity on what’s next for crypto-spot ETFs pending approval. He stated:
“Ignore the October 19b-4 deadlines. They are NOT launch deadlines but SRO Rule deadlines and all those rule proposals were cleared by the Generic Listing Standards (for crypto assets that don’t yet qualify for GLS, their 19b4s are still pending).”
What does this mean for XRP traders?
In a nutshell, the seven XRP-spot ETFs could potentially launch after the US government reopens, giving events on Capitol Hill a greater influence on price trends.
Crypto experts expect robust institutional demand amid growing appetite for regulated crypto derivatives.
Pro-crypto lawyer Bill Morgan commented:
“Rapid adoption of XRP and Solana futures shows increased institutional appetite for regulated altcoin derivatives. Bitcoin just had its usual advantage of a head start. Soon the Bitcoin/Ethereum duopoly in spot ETFs will end, hopefully before a bear market starts”
Morgan shared the details of a CME Group Report about XRP futures, adding:
“XRP futures set a new large open interest holders record. 476k contracts equating to $23.7 billion in notional value since May 2025. Not even 6 months. Open interest last month of $1.4 billion.”
Looking beyond spot ETFs, the government shutdown could also slow the Market Structure Bill’s progress. The US House of Representatives passed the bill to the Senate on July 17, triggering a 14.69% XRP rally. Regulatory clarity, including greater CFTC oversight, could drive adoption, tilting the supply-demand balance in XRP’s favor.
As things stand, XRP remains in limbo, with spot ETF launches and crypto-friendly legislation dependent on the Senate passing a stopgap funding bill.
XRP slid 3.92% on Tuesday, October 14, reversing the previous day’s 2.99% gain to close at $2.5053. The token snapped a three-day winning streak and underperformed the broader market, which dropped 2.33%. The pullback left XRP below the 50-day and 200-day Exponential Moving Averages (EMAs), reaffirming a bearish bias.
Key technical levels to watch include:
In the coming sessions, several key drivers could dictate near-term price trends:
Bearish Scenario: Risks Below $2.4
These bearish scenarios could drag XRP back toward $2.4. A break below $2.4 would expose $2.0.
Bullish Scenario: Path to $3
These bullish scenarios could drive XRP to $2.7 and bring the key psychological resistance at the $3 level.
