Crypto news

You Won’t Believe Why the SEC Keeps Punting the XRP ETF Decision—But the Drama’s Epic!

BBG News
  • Behold! The grand arbiters of finance, the U.S. SEC, have waved their scepter and blessed us with an XRP futures ETF—thus, dear friends, perchance the mythical spot XRP ETF is not a fairy tale after all! 🎭
  • But lo! With a flourish of parchment, the all-powerful Commission hath decreed: “Thou shalt wait 45 days more, O Franklin XRP Fund, for we delight in the game of suspense.” ⏳
  • XRP’s price, emboldened by a band of institutional knights, hath donned its bullish armor and set its gaze upon the enchanted $3 land! 🏰

Madame Sherry Haywood, Assistant Secretary of the venerable U.S. Securities and Exchange Commission, did emerge on Tuesday—quill in hand—to proclaim that alas, the wait for ye olde Franklin XRP Fund shares (courtesy of BZX Rule) drags on! Forsooth, the scrolls bear witness: the assembly’s meddling moves the next deliberation to the 17th day of June, in the year of our financial turmoil, 2025.

Experts Insights on Spot XRP ETF Outlook

James Seyffart, that ETF oracle at the Bloomberg court, hath foretold: “The great SEC will twiddle its thumbs till mid-October to issue its final word on the spot XRP ETFs.” Yet—hark!—Sir Seyffart hints that the wizards of bureaucracy may bestow their decision ere the harvest season (no guarantees, except more waiting).

In a theatrical twist, the SEC hath anointed ProShares as the first conjurer to summon an XRP futures ETF. Rejoice! The show begins anon. Meanwhile, in the royal palace, Sir Donald Trump and his retinue remain most enchanted by crypto’s golden promises. Forsooth—the economy, it shall prosper (or at least sparkle).

Market Impact

Once Lady Haywood’s proclamation echoed across the land, XRP tiptoed up by a meager 1 percent, reaching $2.3—and all during the most noble of North American trading sessions. This grand altcoin, with a wallet bursting at the seams (a valuation of $229 billion, give or take a king’s ransom) and the daily trading revelry at $2.5 billion, now basks in the affections of the institutional gentry and global purse-wielders alike.

$XRP massive expansion incoming

$4-$6 remains the potential target.

— Mikybull Crypto (@MikybullCrypto) April 29, 2025

Let us consult the soothsayers: The crypto oracle MikyBull proclaims that XRP has brushed against its $2 stronghold and now stands ready to charge forth into the unknown, perhaps to discover $4, $6—or (gasp!) even more. Gather ’round, for surely this stage is set for a rally both comical and grand!

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2025-04-29 21:09

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