Now Playing
XRP Commodity Label, CFTC Draft Rules & $14M Liquidation | Oct 6-9
Audio is available on Spreaker — see link below.
XRP just got a commodity label from the CFTC — but the securities risk from institutional sales isn't gone, and the rules aren't final yet. Plus: a 7% price drop, $14M in liquidations, Paxos custody, and 8 million XRPL AI transactions in 30 days.
Audio is available on Spreaker — see link below.
The CFTC just officially listed XRP as a digital commodity. That sounds like a clean win.
The October CFTC framework has two parts. The first covers leveraged retail trading through licensed brokers.
On price, XRP fell from one dollar and fifty-two cents on October sixth to one dollar and forty-one cents within two days. That's a seven percent drop that broke key support at one dollar forty-four and triggered fourteen point two four million dollars in long liquidations.
Despite the price weakness, institutional infrastructure kept expanding. Paxos added XRP custody and trading support, extending its brokerage platform to partners who need regulated access.
Away from the price action, the XRP Ledger crossed eight million transactions in thirty days through the x402 protocol. These aren't retail payments.
The two things worth tracking closely from here: whether the CFTC's October proposals survive the public comment period unchanged, and whether XRP holds above one dollar forty under further selling pressure. A break below one dollar thirty-one would likely accelerate leverage unwinding toward one dollar twenty-two.
Chapter summary auto-generated from the verified script. Listen to the full episode for the complete content.