Rippleโs native token XRP stumbled upon a roadblock today, when the Securities and Exchange Commission (SEC) decided to drag the Ripple ETF decision for longer. While some market observers expected an answer from the crypto-friendly SEC Chair Paul Atkins by the end of May, the financial regulator took a different route.
ETF Status Put On Hold, XRP Price Not Fussed
Asking for the publicโs opinion on the matter, Paul Atkinsโ team postponed the 21Shares Core XRP Trust, according to the May 20, 2025 filing. The double-layered protection against fraud and market manipulation comes into play here, as any exchange-traded fund (ETF) product should comply with Section 6(b)(5) of the Exchange Act.
Ironically, the SECโs stagnation in decision-making in courtesy of a Ripple ETF has spread like a contagion on XRP price. The altcoin has kept its status quo at the $2.35 resistance line, moving up less than 1% in a 24-hour time span, according to CoinGecko. Naturally, the cross-border remittance altcoin also took a plunge in terms of trading volume.
XRP Bulls Take A Hit, Ripple Coin Conflicted?
Digging deep into the price performance of Ripple coin in the past few days, it could be understood that large investors are waiting for a positive sign before topping up. Large investor behavior monitoring Chaikin Money Flow (CMF) index was just above zero, while Relative Strength Index positioned itself in neutral territory.
Namely, the XRP bulls would be able to orchestrate a comeback if Ripple (XRP) price manages to break past $2.42 on the daily timeframe. Breaking through the red-label Bollinger Band (BOLL) could restore some clarity after quiet sideways price movement seen this week so far.
Conversely, a dip below the green-labeled Bollinger Band at $2.30 would inflict additional sell pressure. Judging by the Derivatives market data, XRP bulls have expected a stronger upward move than what today brought – a whopping $2.22 million in XRP long positions were liquidated.
On The Flipside
- Picking up 12.2% gains in 30 days, Ripple (XRP) still falls behind Bitcoinโs (BTC) crusade to $107K, thanks to which the showpiece crypto continued to dilate the distance in terms of Bitcoin dominance versus altcoins.
Why This Matters
A flurry of legal developments for Rippleโs native altcoin has previously fuelled XRP bull runs, including the early 2025 spike above $3 once the favorable Ripple vs. SEC case result was made known to the public.
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