XRP ETF Filing Fuels Optimism Amid SEC Delay and Price Surge

Regulatory Delays and New Deadlines
1. XRP Price Surge Amid Ongoing Legal Uncertainty

Franklin Templeton has taken a significant step by filing an S-1 registration form with the SEC to launch an XRP ETF, following its earlier registration of the Franklin XRP Trust in Delaware. This move aligns the firm with other asset managers like Bitwise, 21Shares, Canary Capital, Grayscale, and WisdomTree, all vying for an XRP ETF approval under the CBOE BZX Exchange framework. The proposed fund will provide investors with exposure to XRP, currently the fourth-largest cryptocurrency by market cap, with Coinbase Custody handling the assets and Coinbase acting as the prime broker.

Regulatory Delays and New Deadlines

The SEC continues its review of spot crypto ETFs despite recent approvals for Bitcoin and Ethereum ETFs. Although several XRP ETF applications are under review, including those from Grayscale, WisdomTree, and Canary Capital, the SEC has delayed its decision on Grayscale’s XRP ETF. Investors now face a new deadline of May 22, 2025, for XRP ETF approvals, adding uncertainty as the SEC extends its review on multiple filings across the crypto sector.

XRP Price Surge Amid Ongoing Legal Uncertainty

Amid this regulatory backdrop, XRP has shown resilience with an 8% surge in price over the past 24 hours, currently trading at $2.19. Crypto analyst CasiTrades highlights that strong support above $2.04 is critical for further gains, with upcoming resistance levels at $2.25 and $2.70. This positive price action is notable as Ripple continues to navigate its ongoing legal battle with the SEC over XRP’s security status. Despite market volatility, the recent filing and subsequent price recovery have raised optimistic expectations among investors, suggesting that XRP could benefit significantly from a favorable regulatory outcome.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

XRP ETF Filing

Sujit Kumar

Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.