XRP Spot ETF Delayed Again, Is it Bearish or Accumulation?
The SEC of the United States announced that the ruling on Franklin's XRP Spot ETF will be postponed until June 17. On the surface, this seems bearish, but in essence, it is merely a procedural delay—Bitcoin and Ethereum ETFs went through the same process initially.
At this stage, the price of XRP is still hovering below $3, and market sentiment is somewhat cautious. However, as long as the ETF is ultimately approved, XRP may welcome the real entry of institutional funds. Don't forget, Brazil's XRP Spot ETF has already launched, but its influence is limited.
Although the current situation is unclear, it may be a phase for low-level positioning. The real market explosion often brews during the 'waiting' period.
