XRP Price Prediction For Today, August 24

Senator Cynthia Lummis (R-WY) is putting pressure on Congress to pass clear crypto legislation on the heels of the Senate’s approval of the GENIUS Act on June 17. Cynthia Lummis Makes A Case For Crypto Giving remarks on Capitol Hill on Tuesday, Lummis argued that while the successful Senate vote brought the U.S. “one step closer to being a welcoming home for digital assets,” Congress still needs to pass market structure legislation as a whole in order to make the U.S. the global “crypto capital.” Today brings us one step closer to becoming a welcoming home for digital asset companies. Now, let’s finish the job & pass market structure legislation to fulfill @POTUS ' vision of becoming the crypto capital of the world. pic.twitter.com/tyz6Kbc5qK — Senator Cynthia Lummis (@SenLummis) June 18, 2025 “The success of the GENIUS Act hinges on comprehensive market structure legislation that protects consumers, establishes transparency, and creates clearly defined trading regulations,” Lummis said. “Congress must act quickly.” Lummis further claimed that working on crypto market structure policy has begun “in earnest,” with draft legislation and Senate hearings on the topic to come within the next few weeks. “This is only the first step,” Lummis said. “Congress must pass comprehensive market structure legislation in the coming months that draws a line between the security and commodity and creates a pathway for digital assets to register with the Commodity Futures Trading Commission (CFTC).” The GENIUS Act Heads To The House The GENIUS Act advanced past the Senate in a 68-30 vote on Tuesday despite partisan division over the stablecoin bill’s passage . Senator Elizabeth Warren (D-MA) urged her fellow U.S. lawmakers to vote no on the legislation, citing concerns related to U.S. President Donald Trump’s cryptocurrency ventures. The Donald Trump-affiliated crypto platform World Liberty Financial recently announced the launch of its own stablecoin known as USD1, sparking backlash from his political opponents. “A bill that turbocharges the stablecoin market, while facilitating the President’s corruption and undermining national security, financial stability, and consumer protection is worse than no bill at all,” Warren said in a May press release . Despite the pushback, the GENIUS Act will now head to the House of Representatives.

Quick Highlights7 firms filed revised XRP ETF applications with the SECMid-October deadline set for XRP and altcoin ETF decisionsExperts say XRP ETF could be the first altcoin ETF approvedXRP ETF Filings Hint at Progress as SEC Opens the DoorSeven major ETF providers have submitted amended applications for spot XRP exchange-traded funds (ETFs), signaling that the U.S. Securities and Exchange Commission (SEC) is actively reviewing the proposals.According to Bloomberg Intelligence analyst James Seyffarth, these updates show that the SEC is in direct communication with applicants—a strong indicator that the approval process is advancing.“Amendments like these suggest that the dialogue with the SEC is ongoing, which is generally a positive sign,” Seyffarth said.Who Filed?The updated applications, submitted on August 22, 2025, came from:GrayscaleBitwiseCanaryCoinSharesFranklin Templeton21SharesWisdomTreeThese firms are looking to gain early positioning in the growing crypto ETF market, this time with a focus on XRP.What’s in the Filings?One key update came from Bitwise. According to its S-1 filing, the SEC requested clarity around the mechanics of issuing and redeeming trust shares. The new filing includes an option to redeem in cash, not just in kind—a topic that was also contentious during the launch of spot Bitcoin ETFs.What’s Next?The SEC has set a mid-October 2025 deadline for most spot XRP ETF applications and other altcoin-related products. This timing matches Seyffarth’s earlier prediction that approvals won’t come before Q4.Experts believe this wave of amendments is a natural step forward. Analysts at Kaiko Research suggest the XRP ETF may be first in line for approval, beating out other altcoin proposals.Nate Geraci, CEO of The ETF Store, predicts that the SEC will approve spot altcoin ETFs “within a couple of months.” He also expects staking to be permitted in existing Ethereum ETFs soon, further expanding the crypto ETF landscape.If approved, the XRP ETF would mark a milestone in mainstream crypto adoption—especially for altcoins beyond Bitcoin and Ethereum.

Who you raise money from at the seed or pre-seed stage is much more important than you think, as these investors tend to back your own projects again.