The US Securities and Exchange Commission (SEC) recently made headlines by granting approval for Bitwise’s new spot crypto ETF, which includes XRP. However, just as the crypto community began celebrating, the SEC issued a stay order, putting the launch on hold. This means the ETF cannot officially go live yet. The reason? The SEC wants more time to review the decision at the Commission level.
This delay is similar to how the SEC has handled other altcoin-related ETFs in the past, such as the Grayscale Digital Large Cap ETF. So while there is some progress for XRP’s inclusion in major investment products, the final decision is still pending.
XRP Price Reacts With a Dip
Amid this mixed news, XRP’s price took a hit. It dropped by 7% and is now trading around $3.26. On the lower timeframes, XRP is showing signs of stability. Despite failing to break out on Monday, the price has not collapsed. Instead, it’s consolidating within a narrow range, which shows that a breakout may be coming soon. However, whether it will be to the upside or downside is uncertain.
If XRP manages t