The U.S. Securities and Exchange Commission (SEC) has postponed its decision on Franklin Templeton's XRP Exchange Traded Fund (ETF) application to November 2025. Accordingly, the XRP price has shown a weak trend, dropping to around $2.15. Analysts suggest that the uncertainty caused by the SEC's actions is rapidly dampening investor sentiment.
Currently, XRP is fluctuating within a box range of $2.10 to $2.35 on the daily chart. Unless it breaks through this range, investors expect the sideways trend to continue. Technical analysis indicates that the $2.10 to $2.05 range is acting as a key support level, and if this range is breached, it could potentially drop to $1.95 to $1.91, and further down to $1.80.
On the other hand, the conditions for a bullish reversal are clear. If XRP breaks through $2.36, it could potentially rebound to $2.44 and even $2.60. However, in the short term, without first crossing $2.33, it appears difficult to expect a clear bullish signal.
Despite this, XRP has maintained a steady upward trend since its April low. Some analysts mention the possibility of a '5-wave rally' and assess that XRP has the potential to rise to over $5 in the medium to long term. However, for this optimistic scenario to materialize, it needs the momentum to break through the upper resistance while maintaining the current support level.
Ultimately, the SEC's delayed ETF approval has effectively thrown cold water on the market. Until a clear direction emerges, XRP is likely to move within a narrow range, and investors should maintain a wait-and-see approach or focus on the formation of key support levels.
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