XRP Nears Critical ETF Decision as Network Activity Surges

The cryptocurrency sector is closely monitoring XRP as the digital asset approaches a potential watershed moment. Currently trading around the $2.50 level, the token faces an imminent regulatory decision that could fundamentally reshape its market position. Multiple financial institutions are actively pursuing approval for a U.S.-based XRP exchange-traded fund, with prospects appearing more favorable than at any previous point.

Market observers point to November 13 as a potential decision date after significant developments in the approval process. Both Bitwise and Canary Funds have submitted revised S-1 applications to the U.S. Securities and Exchange Commission, notably removing the "delaying amendment" clause that previously allowed for extended review periods. This procedural change opens the possibility of automatic approval by mid-November.

An approved XRP ETF would represent a landmark achievement, providing institutional investors with their first regulated access to the cryptocurrency. Market analysts anticipate billions of dollars could enter the XRP ecosystem through such a vehicle, potentially stabilizing the asset's price volatility significantly.

Network Metrics Show Explosive Growth

Beyond regulatory developments, the XRP network itself is demonstrating remarkable expansion. The creation of new user accounts doubled within days during late October, while daily transaction volume now consistently exceeds one million payments. On November 1, the network achieved a new milestone with 1.2 billion XRP tokens changing hands—the highest recorded transaction volume to date.

Should investors sell immediately? Or is it worth buying XRP?

Active wallet addresses surged 49% throughout October, indicating growing engagement from both retail and institutional participants. Even the Network Value to Transactions (NVT) ratio suggests XRP may be trading below its fundamental network value based on transactional activity.

Corporate Treasury Adoption Accelerates

Concurrent with ETF developments, corporations are increasingly recognizing XRP's value as a treasury asset. Companies are building XRP reserves as hedges against macroeconomic uncertainty, with Evernorth emerging as the largest publicly-disclosed holder. Other firms including Trident Digital have made substantial investments in the cryptocurrency.

This corporate adoption trend underscores XRP's evolving role in cross-border payments and treasury management—developments that exist independently of the current ETF speculation. The convergence of regulatory progress, network expansion, and institutional adoption creates a potentially transformative moment for the digital asset.