The Ripple (XRP) price was traded near USD 2.42 on May 21 and consolidated towards $ 2.56 after the short step last week. The Altcoin has tried to interrupt higher, also stabilized as a Bitcoin over 102,000 US dollars and kept Ethereum near $ 2,650. The price campaign of XRP remained the range for over per week, with attempts at resistance and never a robust catalyst to force a breakout.
SEC Dely Clouds XRP ETF Timelinbullish structure builds tensions
The wider cryptoma market showed signs of fatigue after the CPI-induced rally of the past week. While memoins continued to placed on short -term rivers, large caps like XRP saw declining spot volumes and a slight change within the open interest. On-chain metrics also indicated a reduced commitment of the dealers, with no large accumulation of huge arrangements.
Despite the subdued price campaign, the interest in XRP stays increased due to recent speculations a few potential Spot ETF list. At the weekend, several market participants shared screenshots of ETF-related tickers that appear briefly on a big data aggregator platform. Although the lists have been removed quickly, they’ve repeated hopes for regulatory progress and renewed institutional exposure to XRP.
However, there was no official announcement of the event, and the worth of XRP didn’t react significantly. The ETF chat now draws attention to deeper structural developments, especially the legal status and the token economy of Ripple can affect the medium-term prospects.
SEC Dely Clouds XRP ETF time bar
The US Securities and Exchange Commission delayed its decision on the proposal of 21Shares' Spot XRP ETF on May 20, whereby the necessity to assess whether the fund corresponds to protection against fraud and market manipulation in accordance with Section 6 (B) (5) of the Exchange Act.
The fund called 21Shares Core XRP Trust was developed to pursue the CME CF XRP dollar reference rate, whereby Coinbase-Sorgeous as a wealth holder. The proposal was initially submitted on March 11 in the usual window of 70 days.
Despite the XRP ETF delay from SEC, socials remained bullish.
This delay was added to previous shifts for similar submissions of grayscale and Franklin Templeton. The SEC has now opened a 21-day public commentary period and a 35-day resistance window, which points out that a final decision may not occur before the top of June or early July. Bloomberg -analysts suggest that the early Q4 2025 in view of the unsolved legal status of XRP is a more realistic timeline.
The delay was partly resulting from the persistent criticism of the SEC within the Ripple lawsuit, which questions whether XRP needs to be classified as security. The appeal stays pending with judge Analisa Torres, and a standing update is resulting from the second circuit until June fifteenth. The case continues to accuse a shadow of ETF permits, which reinforces the careful attitude of the agency to old coin-based means.
The reactions were mixed on social media. James Seyffart noticed that the delay corresponds to expectations. Users similar to Ripplexrpie and Nico Cabrera have given the break of the SEC as routine, while Eleanor Terrett confirmed an analogous proposal from Franklin Templetons proposal.
After the news, the open interest in XRP Futures took back and the SpotVolumina softer. Despite short-term weakness, polymarket beds still have an 83% probability of an ETF approval after the top of the yr. The start of XRP -Futures from CME from May 19 adds a bullish counterweight, although XRP may remain under $ 2.60 until the clarity of regulation improves.
The bullish structure builds up tension
The XRP price continues to consolidate in a falling wedge pattern. The dealer often looks on the formation bullish since it increases the tendency towards the upper solution. Two downflows define the wedge pattern, with the upper limit rejecting every failed outbreak since March and the lower trend line catches flat backgrounds.
The price approaches the apex, but stays within the wedge, which points out that no confirmed outbreak has occurred.
The wedge formation began to form after the vertical rally rally from XRP was near the extent of three.25 US dollars. Since then, the worth has recorded lower heights and better lows in a narrowing structure, while the quantity progressively declined – a classic wedge feature.
XRPUSD Weekly Price Chart with RSI and Bullish Setup. Source: Tradingview
Dealers often calculate Breakout goals by measuring the peak of the wedge at its widest point and projecting this distance from the outbreak level. In this case, the expected goal for the Ripple token is near $ 3.80, a rise of over 61% in comparison with the present level until there was a confirmation of a conclusion via the wedge resistance.
The weekly 20-me statement is near $ 2.21 and continues to act as dynamic support. The $ 2.14 zone offers additional structural support and is geared toward the sooner weekly closings. The level of $ 2.88 and $ 2.58 remain the closest resistance zones and may be observed crucially when the worth tries an upward trend. Currently, XRP price acts slightly below $ 2.36 inside an overloaded area by which bulls and bears are evenly coordinated.
Weekly RSI float near 55 and signal neutral impulse without showing overbought or oversized conditions. This continues to support the consolidation narrative. Until the worth above the wedge resistance closes with volume expansion, the bullish setup for the Ripple token stays unconfirmed.
A decisive outbreak would change the market structure and open the approach to the projected goal. The XRP ETF messages would probably make Bulls tougher to force an XRP outbreak.
