SEC’s Dramatic Delay: Will XRP Soar or Sink? 🚀💔

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Oh, darling! The U.S. Securities and Exchange Commission (SEC) has decided to play the waiting game with Grayscale’s application for a spot XRP exchange-traded fund (ETF). As if we didn’t have enough suspense in our lives already! 😩

In a move that shocked absolutely no one, the SEC has kicked the can down the road, initiating formal proceedings to seek public comments and conduct a deeper analysis. Because, you know, who doesn’t love a good regulatory delay? 🙄

Bloomberg ETF analyst James Seyffart, our resident expert on all things crypto, has pointed out that these decisions usually follow the full review window laid out under Rule 19b-4. So, if you were hoping for a quick verdict, you might want to grab a snack and settle in for the long haul. 🍿

Lotta questions. Replying here:

The SEC *typically* takes the full time to respond to a 19b-4 filing. Almost all of these filings have final due dates in October. Early decisions would be the action that’s out of the norm. No matter how “Crypto-friendly” this SEC is.

There’s no…

— James Seyffart (@JSeyff) May 20, 2025

Meanwhile, some XRP funds are due for updates soon, but let’s be real—meaningful decisions, especially approvals, are more likely to pop up between late Q2 and early Q4. So, keep your fingers crossed and your wallets ready! 🤞💸

XRP Price Outlook

As for XRP, it’s currently trading around $2.35, which is about as exciting as watching paint dry. The weekly XRP chart is hinting at a potential breakout, reminiscent of the thrilling early stages of a late-2024 bull market pattern. Remember when XRP skyrocketed over 500%? Ah, good times! 🎉

Market watchers are now hoping for a repeat performance. Blockchain data shows that addresses holding between 10 million and 100 million XRP have increased their holdings from 7.56 billion to 7.67 billion tokens in just five days. Talk about a crypto hoarding spree! 🤑

On the daily XRP price chart, the RSI is sitting around 51, indicating equal pressure from buyers and sellers. This means our dear fourth-largest cryptocurrency needs some fresh buying volume to keep the party going. 🎈

XRP price chart with RSI and Bollinger Bands | Source: Trading View

Bollinger Bands have recently expanded, and XRP is trading close to the mid band (20-day SMA), hinting at a period of short-term consolidation. If it can’t hold this level, we might be looking at a drop to the lower band around $2.05. Yikes! 😱

The Moving Average Convergence Divergence (MACD) is also due for a bullish crossover, but right now, it’s printing red bars. This usually indicates weakening momentum, but if XRP can breach the $2.51-$2.72 band, we could see it soar to $3. Fingers crossed! 🤞

XRP price chart with MACD | Source: Trading View

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2025-05-21 18:55