The U.S. Securities and Exchange Commission (SEC) has postponed its decision on Franklin Templeton's XRP ETF application to June 17, and experts predict that final approval may be delayed until October this year.
According to Crypto News on the 1st (local time), the current XRP price is around $2.22, up about 38% from the April low of $1.60. It is receiving support just above the 21-day and 50-day moving averages. This XRP price recovery coincides with the overall rebound in the cryptocurrency and U.S. stock markets as Donald Trump softens his stance on the trade war.
However, concerns are raised that this optimism may be unfounded as U.S. economic indicators increasingly point to an imminent economic downturn. In particular, the XRP price is likely to face additional headwinds as Franklin Templeton's ETF application encounters obstacles.
According to the official document released on Wednesday, the SEC has postponed its decision on approving Franklin Templeton's XRP ETF to June 17. ETF analysts predict that the actual final decision may not come until October. This suggests that the 'ETF fever' for XRP may not emerge as a major investment narrative until the last quarter of this year.
Despite Trump stepping back from the trade war, the risk of XRP's upward momentum being cut off is increasing in a worsening macroeconomic environment.
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