📉 XRP MOMENTUM STALLS NEAR $2.35 SUPPORT AS SEC DELAYS 21SHARES $XRP ETF DECISION ⏳ $XRP
XRP’s recent bullish momentum has hit a speed bump, cooling near the critical $2.35 support level after the U.S. Securities and Exchange Commission (SEC) postponed its decision on the 21Shares $XRP Exchange-Traded Fund (ETF). The delay has injected fresh uncertainty into the market, stalling what was a strong recovery for the digital asset.
After rallying on positive sentiment and renewed interest in altcoins, XRP’s upward trajectory lost steam this week. The SEC's move to extend the review period for the ETF has left investors in limbo, creating short-term bearish pressure. Many traders had priced in a favorable or timely decision, hoping for increased institutional access and broader legitimacy for the token.
The ETF approval is seen as a major milestone for XRP, especially following Ripple’s partial legal victory over the SEC in 2023. However, regulatory ambiguity continues to hang over the asset like a cloud. With no firm timeline for a decision, market participants are now focused on whether XRP can hold the $2.35 support or if a breakdown is imminent.
Technically, holding above $2.35 could signal consolidation before another potential move upward, especially if broader market conditions improve. A drop below this level, however, could open the door to deeper retracements toward the $2.00 zone.
Despite the short-term stall, sentiment around XRP remains cautiously optimistic. Analysts note that growing adoption, Ripple’s global partnerships, and anticipation of a future ETF approval still make XRP a strong long-term play. But in the near term, all eyes remain on regulators.
As the crypto community waits for clarity, XRP finds itself in a familiar position—stuck between promise and uncertainty.
⏱️ Will the ETF delay just be a temporary pause, or the start of another regulatory roadblock? Only time will tell. 🔍
