XRP meets a setback! The world's first XRP spot ETF plummets in its first week! Is the US also in trouble?

The world's first XRP spot ETF was listed on the Brazilian stock exchange under the ticker XRPH11B3, and it faced a heavy setback in its first week, with a cumulative decline of nearly 10%. On May 5 alone, it dropped by 3.5%, reflecting the market's rapidly cooling enthusiasm.

The ETF is under dual pressure: first, the limited trading volume in the Brazilian market, and second, ongoing selling pressure on XRP itself. As of now, XRP is priced at only $2.10, with a nearly 9% decline over the past week, closely mirroring the ETF's performance.

Although it performed well initially, its subsequent weakness reveals a fact—without market sentiment support, any crypto ETF struggles to escape the mire.

The US version is even more perplexing: the SEC has once again postponed its decision!

The U.S. Securities and Exchange Commission has delayed its ruling on Franklin Templeton's XRP spot ETF application until June 17, 2025, coinciding with the need for the agency to submit a key appellate update. This coincidence has sparked speculation: is the SEC leaving room for maneuver in light of the lawsuit's outcome?

What’s even more noteworthy is that the U.S. is also reviewing other XRP ETF proposals, with a final decision expected in mid-October 2025. Meanwhile, market confidence in the U.S. version of the ETF being approved this year is increasing, with current probability estimates as high as 74% according to predictive platforms.

While the spot ETF is still stuck in the approval process, the SEC has already greenlit three XRP futures ETFs, with ProShares planning to start trading on May 14, pending final confirmation.

The true turning point for XRP may well be hidden in the fate of these ETFs.