Will Ripple Break the $2.50 Barrier or Face More Resistance?
The XRP community was buzzing with anticipation, but the U.S. Securities and Exchange Commission (SEC) just hit the pause button again—this time pushing the decision on the Franklin XRP Spot ETF to June 17. As a result, XRP slipped by nearly 3%, now hovering around $2.22, testing crucial support at $2.19.
SEC Puts XRP ETF on Hold: What’s Really Going On?
The SEC’s delay adds more uncertainty to an already complex regulatory landscape. ETF approvals often signal a green light for institutional adoption—but with this extension, XRP enthusiasts are left hanging. The XRP ETF could open the doors for big investors, offering them access to XRP without the hassle of direct holdings. But for now, that dream is on hold.
> BREAKING: The SEC postpones decision on Franklin Templeton’s XRP Spot ETF to June 17.
This hesitation raises concerns about whether the SEC is ready to embrace XRP in mainstream finance. While regulatory bodies often cite compliance and manipulation risks, this extended timeline dampens short-term investor sentiment.
XRP Price Moves: Holding Strong, But Eyes on $2.50
Despite the regulatory drag, XRP recently pushed above its 50-day moving average, peaking briefly at $2.23. While the token encountered resistance, it still shows bullish signals. Support at $2.19 remains critical—if that level holds, XRP could build momentum toward the $2.50 breakout zone last seen in March.
The Relative Strength Index (RSI) sits at 54, suggesting buyers still dominate, and there’s potential for upward pressure if momentum builds. A surge in demand could push the RSI toward 70, signaling stronger bullish conditions.
But caution is key—profit-taking from early investors could trigger a dip, potentially dragging the price back to $2.07 if the $2.19 support fails.
Setback or Setup for a Bigger Rally?
The SEC’s ongoing hesitation is a short-term bump—but could turn into a long-term opportunity. Ripple remains strong in cross-border utility, and institutional investors are watching closely. If regulatory clarity emerges, XRP could rally hard, especially with ETF approval still on the table.
For now, XRP traders should stay alert. The $2.19 support zone is holding—for now. But all eyes are on June 17.
