US Government Shutdown Could Impact XRP and Crypto Regulation
- Prediction market Kalshi indicates a 73% chance of a US government shutdown by the Oct. 1 fiscal deadline.
- A shutdown would reduce staffing at the SEC and CFTC, delaying reviews of digital asset filings, including ETFs.
- Ripple’s bid for a US national bank charter is also at risk, pending assessments by the OCC.
- XRP has traded under $3 for the past month, despite institutional interest and recent accumulation of over 120 million XRP by whales.
The potential government shutdown could hinder regulatory processes crucial for cryptocurrency initiatives, particularly affecting XRP’s ETF applications and Ripple’s banking ambitions.
With XRP facing uncertainty from both regulatory delays and market conditions, its price stability remains in question as it trades below $3 amidst significant whale activity. (Source)
