Ripple’s October Showdown: XRP ETF and Banking License Decisions Set to Reshape Crypto Landscape

October looms as Ripple's make-or-break moment—regulatory verdicts on both an XRP ETF and banking license could catapult the token into mainstream finance or leave it stranded at the compliance crossroads.

The ETF Gambit

Securities regulators weigh approving the first XRP-focused exchange-traded fund—a move that would legitimize Ripple's battered asset and open floodgates to institutional capital. Wall Street's suddenly paying attention to a crypto that traditional finance wrote off years ago.

Banking's Holy Grail

A federal banking charter would let Ripple operate as a licensed financial institution—bypassing the regulatory limbo that's haunted XRP since the SEC lawsuit. Suddenly those bank partnerships don't look so speculative anymore.

The Compliance Tightrope

Ripple's walking a knife-edge between crypto innovation and financial regulation—get these approvals wrong and they're just another altcoin; get them right and they rewrite the rulebook for digital assets in traditional banking. Because nothing makes financiers reconsider their skepticism quite like the scent of undiscovered fees.

TLDR

• October will be a crucial month for Ripple with significant regulatory decisions on the horizon.
• The SEC will decide on multiple XRP ETF applications which could influence Ripple’s market growth.
• Ripple’s national banking license application will also be reviewed in October potentially boosting its credibility.
• Approval of the XRP ETFs could bring institutional adoption and increase liquidity for Ripple.
• The national banking charter would allow Ripple to operate as a federally regulated trust bank.

October is shaping up to be a pivotal month for Ripple, as key regulatory decisions loom. Bill Morgan, a prominent crypto lawyer, believes that the outcome of two significant events could greatly influence Ripple’s future. With the SEC’s delay in ruling on several XRP ETF applications and Ripple’s application for a national banking license, October could define the company’s trajectory.

XRP ETF Decisions Set to Shape Market Sentiment

The SEC’s delay in ruling on XRP ETF applications could have major implications for Ripple. Applications from companies like 21Shares, Grayscale, Bitwise, and others are now set for review by mid-to-late October. These delayed decisions are crucial as they determine whether XRP will be included in exchange-traded funds. According to Morgan, “If the SEC approves the XRP ETFs, it could signal market validation for Ripple and lead to greater institutional adoption.”

Currently, the SEC is reviewing applications that could provide regulated exposure to XRP for institutional investors. If approved, these ETFs WOULD bring increased liquidity and market confidence. Ripple’s ability to integrate with traditional financial markets could be greatly enhanced, positioning XRP for stronger growth.

However, the delay also means a risk of rejection, which could impede Ripple’s integration with traditional finance. As Morgan points out,

“A denial would limit Ripple’s ability to make strides in the U.S. financial system.”

The SEC’s decision will therefore play a crucial role in Ripple’s future.

All these spot ETFs including XRP spot ETFs being delayed until late October 2025.

Then you have Ripple’s application for a national bank charter that was filed on 2nd July 2025 which according to the OCC manual should generally be decided within 120 days, which means by the end… https://t.co/c2OViISIq4 pic.twitter.com/QlLE6sOwiO

— bill morgan (@Belisarius2020) August 18, 2025

Ripple National Bank Charter Application Looms Large

Ripple’s application for a U.S. national banking license is also expected to be decided in October. The Office of the Comptroller of the Currency (OCC) generally reviews such applications within 120 days. This puts Ripple’s deadline for a decision around late October, coinciding with the SEC’s final verdict on the ETF applications.

The national banking charter would allow Ripple to operate as a federally regulated trust bank. This would grant Ripple the oversight and regulatory clarity needed to expand its operations in the U.S. financial sector. Additionally, Ripple has applied for a Federal Reserve master account, which would enable it to hold reserves directly with the U.S. central bank.

Approval of the banking charter would elevate Ripple’s credibility and integration within the financial system. It would place Ripple alongside a select group of crypto firms with this level of regulatory oversight. As Morgan notes,

“Ripple’s regulatory standing would be significantly bolstered if it secures both the ETF approval and the banking charter.”