SEC Throws Sand in XRP’s Gears—21Shares ETF Decision Delay Stalls $2.35 Momentum

Just as XRP bulls geared up for a breakout, the SEC hit pause—delaying 21Shares’ spot ETF decision and leaving the token grinding near make-or-break support at $2.35. Classic regulator move: ’analyzing’ while markets churn.

Market watchers eye the $2.35 level like a tightrope walker’s balance pole—break below, and the next stop could be a 20% plunge. Hold? Traders might flip the script toward $3. But with the SEC’s trademark ’deliberate speed,’ don’t hold your breath.

Meanwhile, crypto OGs shrug—another day, another bureaucratic speed bump. After all, when has Wall Street ever rushed to embrace disruption?

Both the SMA and the 10-day EMA point to bearish pressure. On the other hand, long- and medium-term MAs are more optimistic. Despite the recent decline, the longer trend is still in place, as shown by the 20-day to 200-day EMAs and SMAs flashing buy signals.

A breakout above $2.38 and sustained momentum past $2.61 could signal further upside, targeting higher resistance zones. If XRP falls below its 20-day SMA at $2.34, it could test support at $2.26 or even $2.06, increasing the likelihood of downward pressure.

With both technical and regulatory signals providing conflicting hints about XRP’s next significant move, the market is currently in a wait-and-see state.