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SEC Latest Decision Shocks XRP Army
$XRP The U.S. Securities and Exchange Commission has announced that it will delay final decisions on two XRP exchange-traded fund (ETF) applications until late October.
X Finance Bull (@Xfinancebull) shared the news on X, revealing that both 21Shares and CoinShares now face extended waiting periods as regulators conduct additional analysis of their proposed cryptocurrency ETFs.
✨More XRP ETF Delays
CoinShares submitted its XRP ETF application targeting a Nasdaq listing in early February, with the SEC now scheduling its final determination for October 23. The London-based asset manager initially filed its rule change proposal on February 7, followed by official publication three weeks later.
21Shares faces a slightly earlier deadline of October 19 for its Core XRP Trust, which would trade on Cboe BZX Exchange if approved. The SEC acknowledged the 21Shares ETF application in February, but delayed its decision on this proposal in May.
This decision to further delay this decision was not received well by many community members. However, X Finance Bull has a different perspective.
✨Speculation on the Reason for the Delay
X Finance Bull suggests that the extensions represent calculated timing rather than genuine regulatory roadblocks. According to him, the SEC can’t stop XRP ETF approval, but it’s buying time with this delay. He believes the SEC is using this tactic to cause XRP’s price to drop, so its members can buy the dip before the approval drives the digital asset’s price significantly higher.
In June, Bloomberg raised the probability of an XRP ETF approval to 95%, and XRP supporters echoed X Finance Bull’s sentiment, viewing the extensions as confirmation that approval remains inevitable. Many interpret the delays as creating prime accumulation opportunities before the anticipated price surge.
✨Bullish Expectations for XRP
X Finance Bull boldly set a $1000 target for XRP, reflecting extreme bullish sentiment following the delay. XRP is trading at 3.06, down 1.33% from yesterday. He also announced plans to purchase additional tokens during the dip.
X Finance Bull is treating the regulatory extensions as a buying signal rather than a setback, and many community members share this belief, planning to accumulate tokens as well. While the delay may cause a temporary dip, other experts have shared bullish targets for XRP once the ETFs go live, and this might be the last opportunity to accumulate tokens at the current low prices.
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