XRP momentum stalls as SEC delays 21Shares XRP ETF decision

The recent Rally of XRP has stalled with the slowdown in market activity and uncertainty surrounding the examination of the Securities and Exchange Commission of the 21Shares XRP Spot ETF.

The token is negotiated at around $ 2.35 at the time of the press, down 1.4% in the last day and 8.3% in the previous seven days, suggesting that its momentum is declining after a strong race earlier this month. In addition, the volume of exchanges has decreased sharply. During the last day, XRP (Xrp) experienced a trading to the point of 2.67 billion dollars, a decrease of 15.9% compared to the day before.

Derivative data paint a similar image. Rinsing data shows that the interest opened in XRP dropped from 3.14% to $ 4.58 billion, while the long -term volume dropped by 28.45% to reach $ 4.24 billion. Although the drop in open interest shows that traders take positions rather than opening new ones, often an indication of a decrease in confidence in short -term prices action, the decrease in volume suggests cooling the speculative interest.

The weakening of market dynamics occurs just when the SEC has delayed its decision on the Core XRP 21Shares Core trust. In a May 20 depositThe agency said it extended the exam period to assess whether the ETF complies with article 6 (b) (5) of the exchange law, which requires protections against fraud and market manipulation.

THE Trust will use Coinbase police custody to store its assets and seek to follow the reference rate CF CF XRP-Dollar. The SEC stressed that the delay allows a more in -depth analysis and the contribution of the public rather than representing a final decision. Refutations must be submitted within 35 days of the publication of the Federal Register, and the commentary period will last 21 days.

Bloomberg ETF analyst, James Seyffart described the delay as “waiting”, adding in a position of May 20 X that the first approvals for all ETF Crypto, including those of XRP or Solana (GROUND), are unlikely before the end of June or early July, and more realistic at the beginning of the fourth quarter.

XRP technical indicators point to indecision. Currently, the price of XRP is close to the lower band of the Bollinger indicator, indicating a prudent market activity. With a value of 52, the relative resistance index is neutral. Short -term mobile mediums report weakness.

The 10 -day SMA and EMA indicate a downward pressure. On the other hand, long and medium term mas are more optimistic. Despite the recent drop, the longer trend is still in place, as shown by the purchase signals from 20 days to 200 days and SMAS.

An escape greater than $ 2.38 and a sustained momentum beyond $ 2.61 could report more advantagetargeting higher resistance areas. If XRP falls below its 20 -day SMA at $ 2.34, it could test the support at $ 2.26, or even $ 2.06, increasing the probability of pressure downwards.

With both technical and regulatory signals Providing contradictory advice on XRP’s next significant decision, the market is currently in a state of waiting.