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XRP slides to $2.1269 as the SEC delayed its review of Franklin Templeton’s XRP-spot ETF application

Legal experts note the ETF delay coincides with a key SEC-Ripple appeal deadline on June 17, 2025.

XRP’s near-term path hinges on ETF approval, SEC settlement terms, and broader crypto sentiment.XRP-Spot ETF Delay Fuels Market Speculation

XRP faced selling pressure on Wednesday, April 30, as investors continued reacting to the SEC delaying Franklin Templeton’s XRP-spot ETF review. The token dropped from Monday, April 28’s high of $3.3621 to a Wednesday low of $2.1269 before steadying.

XRP enthusiast and social media influencer John Squire offered a speculative take on the delay, suggesting that the SEC might be preparing to accept XRP as a form of payment. He stated:What if the SEC actually accepts XRP as payments? There’s a hot theory going round: If the US Government settles with Ripple and accepts XRP instead of cash, that could explain why ETF approvals are being delayed.”Squire elaborated that if the SEC were to approve XRP-spot ETFs, institutional money would flood in, XRP’s price would rally, and the government would receive a pricier asset in any settlement. He added:

“If the SEC is considering accepting XRP as payment, the last thing they want is a price rally triggered by ETF hype. Delaying the ETF gives them time to finalize a cheaper settlement, then unleash the ETF afterward.”Ripple Settlement and Appeal: Key to XRP ETF Prospects

Another plausible reason for the delay in approving XRP-spot ETFs is the SEC’s appeal against the Programmatic Sales of XRP ruling. The SEC and Ripple jointly filed a motion to pause the appeal, citing a potential settlement agreement. The agreement reportedly includes vacating the injunction against institutional sales and reducing Ripple’s $125 million penalty.

If the SEC and Ripple settle, the SEC may drop its appeal, with Ripple withdrawing its cross-appeal. An end to the Ripple case would likely pave the way for an XRP-spot ETF approval.

Pro-crypto lawyer Bill Morgan remarked on the SEC delaying Franklin Templeton’s XRP-spot ETF review, stating:Ripple Settlement and Appeal: Key to XRP ETF Prospects

Another plausible reason for the delay in approving XRP-spot ETFs is the SEC’s appeal against the Programmatic Sales of XRP ruling. The SEC and Ripple jointly filed a motion to pause the appeal, citing a potential settlement agreement. The agreement reportedly includes vacating the injunction against institutional sales and reducing Ripple’s $125 million penalty.

If the SEC and Ripple settle, the SEC may drop its appeal, with Ripple withdrawing its cross-appeal. An end to the Ripple case would likely pave the way for an XRP-spot ETF approval.

Pro-crypto lawyer Bill Morgan remarked on the SEC delaying Franklin Templeton’s XRP-spot ETF review, stating:Oddly, the delay of the ETF approval to 17 June 2025 is to a date that falls just after the expiry of the 60 day period by which a status report must be filed by the SEC in the SEC v Ripple appeal pursuant to the court order dated 16 April 2025.”

John Squire added:

“Eyes on June 17. That could be the day we see the true direction of XRP’s future. Until then, every delay might just be a piece of the strategy.”

XRP Market Outlook: Legal and ETF Factors in Focus

XRP dropped 2.12% on Wednesday, April 30, following Tuesday’s 2.43% loss, closing at $2.1918. The token underperformed the broader crypto market, which fell 0.20% to a total crypto market cap of $2.9 trillion.

Over the near term, several factors will influence XRP price trends:

Developments in the Ripple-SEC settlement and appeal process.

XRP-spot ETF progress.

Broader macroeconomic forces, including Federal Reserve policy and US-China trade relations.#BinanceAlphaAlert #xrp

XRP finds support at $2.10, with a break above $2.50 potentially paving the way to $3.00 and a retest of its all-time high at $3.5505.$XRP