The Ripple (XRP) price traded close to $2.42 on Might 21, consolidating after final week’s transient transfer towards $2.56. The altcoin has struggled to interrupt larger, whilst Bitcoin stabilized above $102,000 and Ethereum held close to $2,650. XRP’s price motion has remained range-bound for over every week, with resistance capping upside makes an attempt and no robust catalyst to pressure a breakout.
The broader crypto market confirmed indicators of fatigue after final week’s CPI-induced rally. Whereas memecoins continued to draw short-term flows, massive caps like XRP noticed declining spot volumes and little change in open curiosity. On-chain metrics additionally steered decreased dealer engagement, with no main accumulation spike amongst massive pockets cohorts.
Regardless of the subdued price motion, curiosity in XRP stays elevated due to renewed hypothesis round a possible spot ETF itemizing. Over the weekend, a number of market members shared screenshots of ETF-related tickers showing briefly on a serious knowledge aggregator platform. Although rapidly eliminated, the listings reignited hopes of regulatory progress and renewed institutional publicity to XRP.
Nonetheless, no official announcement adopted the occasion, and XRP’s price did not react considerably. The ETF chatter now shifts consideration towards deeper structural developments, significantly how Ripple’s authorized standing and token economics might impression the mid-term outlook.
SEC Delay Clouds XRP ETF Timeline
The U.S. Securities and Trade Fee delayed its resolution on 21Shares’ spot XRP ETF proposal on Might 20, citing the necessity to assess whether or not the fund complies with protections towards fraud and market manipulation below Part 6(b)(5) of the Trade Act.
The fund, named 21Shares Core XRP Belief, is designed to trace the CME CF XRP-Greenback Reference Price, with Coinbase Custody appearing because the asset holder. The proposal was initially submitted on March 11, throughout the SEC’s commonplace 70-day assessment window.
This delay added to earlier postponements for related filings from Grayscale and Franklin Templeton. The SEC has now opened a 21-day public remark interval and a 35-day rebuttal window, indicating {that a} closing resolution could not arrive earlier than late June or early July. Bloomberg analysts recommend early This fall 2025 is a extra practical timeline, given the unresolved authorized standing of XRP.
The delay stemmed partly from the SEC’s ongoing attraction within the Ripple lawsuit, which questions whether or not XRP ought to be labeled as a safety. The attraction stays pending with Choose Analisa Torres, and a standing replace is as a result of Second Circuit by June 15. The case continues to forged a shadow over ETF approvals, reinforcing the company’s cautious stance on altcoin-based funds.
On social media, reactions have been combined. James Seyffart famous the delay aligns with expectations. Customers like RippleXrpie and Nico Cabrera flagged the SEC’s pause as routine, whereas Eleanor Terrett confirmed an analogous maintain on Franklin Templeton’s proposal.
Following the information, open curiosity in XRP futures declined, and spot volumes softened. Regardless of short-term weak spot, Polymarket bettors nonetheless assign an 83% likelihood of ETF approval by year-end. The CME’s Might 19 launch of XRP futures provides a bullish counterweight, although XRP could stay trapped under $2.60 till regulatory readability improves.
Bullish Construction Builds Rigidity
XRP price continues to consolidate inside a falling wedge sample. Dealer usually contemplate the formation bullish resulting from its tendency to resolve larger. Two downward-sloping trendlines outline the wedge sample, with the higher boundary rejecting every failed breakout since March and the decrease trendline catching shallow pullbacks.
Value is nearing the apex however stays contained in the wedge, indicating {that a} confirmed breakout has not but occurred.
The wedge formation started forming after XRP’s vertical rally stalled close to the $3.25 stage. Since then, price has posted decrease highs and better lows in a narrowing construction, whereas quantity progressively declined—a basic wedge attribute.
Merchants usually calculate breakout targets by measuring the peak of the wedge at its widest level and projecting that distance upward from the breakout stage. On this case, the projected goal for the Ripple token is close to $3.80, a spike of over 61% from present ranges, pending affirmation of an in depth past wedge resistance.
The weekly 20-EMA sits close to $2.21 and continues to behave as dynamic help. The $2.14 zone affords extra structural help and aligns with earlier weekly closes. The $2.88 and $2.58 ranges stay the closest resistance zones and can be key to look at if price makes an attempt an upside breakout. At the moment, XRP price trades slightly below $2.36, inside a congested space the place bulls and bears are evenly matched.
Weekly RSI hovers close to 55, signaling impartial momentum with out displaying overbought or oversold circumstances. This additional helps the consolidation narrative. Till price closes above the wedge resistance with quantity enlargement, the bullish setup for the Ripple token stays unconfirmed.
A decisive breakout would shift market construction and open the trail towards the projected goal. The XRP ETF information would probably make it troublesome for bulls to pressure an XRP price breakout.