Ripple Investors Eye October as Crucial Month for XRP Pending ETF and Banking License Approval

• Lawyer Bill Morgan has disclosed that two major events could happen in October, and could significantly impact the price of XRP. 
• One of the events is the possible approval of Ripple’s application for a National Bank Charter. 

October (Uptober) is just around the corner, and crypto investors are patiently awaiting a return of the historic upsurge usually associated with the month. Fascinatingly, two major decisions that could be a huge catalyst for XRP’s price within the period have started gaining traction as crypto lawyer Bill Morgan delves into them.

XRP ETF Approval

The first landmark decision expected in October 2025, according to Bill Morgan, is the potential approval of major XRP Exchange Traded Fund (ETF) applications.

As first disclosed by Bloomberg ETF analyst Eric Balchunas and reviewed by CNF in April, the XRP ETF applications filed by the likes of Grayscale, 21Shares, Bitwise, and Canary could receive their final decisions by October 18, October 19, October 20, and October 24, 2025, respectively. On October 25, those filed by WisdomTree, Coinshares, and Franklin Templeton could also receive the final outcome.

The possibility of most of these getting approval has also been addressed by prediction platform Polymarket, Balchunas, and his colleague James Seyffart. In April, Polymarket disclosed that the XRP ETF approval has a 75% chance this year, as indicated in our earlier post.

Later in June, Balchunas and Seyffart also disclosed that the approval odds are 95%. As discussed earlier, the duo emphasized that this is “a matter of when, not if.”

Ripple’s National Bank Charter Application Approval

The impact of a potential ETF approval cannot be underrated. However, there could be a more interesting landmark decision, and that is the possible approval of Ripple’s National Bank Charter application.

It can be recalled that the blockchain company filed this application on July 22 with the banking regulator, the Office of the Comptroller of the Currency (OCC). According to Morgan, OCC’s manual suggests that a decision could be made in 120 days. Mathematically, this ends in October.

As detailed in our previous news coverage, Ripple’s application seeks a Fed master account that enables it to access the payment infrastructure of the Federal Reserve. This approval could also enable it to hold its stablecoin reserve directly with the Central Bank.

Some top banks in the US have, however, openly urged the regulator to reject this application. As examined in our earlier publication, their reason is that Ripple does not meet the fiduciary standards. Regardless of this opposition, Morgan believes that a lot could happen in October.

Currently, the XRP price is attempting to secure its $3.0 support level as it surges by 1.6% in the last 24 hours. Supporting this run is the daily trading volume, which has increased by 24% to $6.9 billion.