- XRP trades at $2.25 as the SEC delays Franklin’s ETF decision to June 17, affecting short-term price sentiment.
- RSI sits at 52.79 ahead of May 1, showing balanced pressure as Bollinger Bands narrow around key levels.
- ProShares plans May 14 launch for XRP futures ETF, signaling broader market interest despite delays.
XRP is trading at $2.25, down 2% over the last 24 hours. The dip came after the U.S. SEC delayed its decision on the Franklin Templeton spot XRP ETF. The new deadline for the ETF review is now set for June 17, 2025.
The original decision was expected by May 3. The delay has affected XRP’s short-term momentum, and traders are adjusting their positions heading into May 1.
Franklin Templeton’s XRP ETF Review Now Set for June
Franklin Templeton, which manages more than $1.5 trillion in assets, is the largest firm currently seeking approval for a spot XRP ETF. The application was submitted through Cboe BZX Exchange and entered review on March 19.
The SEC said it needs more time to evaluate the proposal. This kind of delay is routine. Other firms, including Grayscale, Bitwise, WisdomTree, and 21Shares, are also waiting on XRP ETF decisions.
Related: XRP ETF Decision Moved to June 17 as SEC Extends Franklin Templeton Timeline
James Seyffart, an ETF analyst at Bloomberg Intelligence, said that delays like this are part of the process and not a sign of rejection.
Interestingly, ProShares has announced a revised target date of May 14 for the launch of its futures-based XRP ETFs, as indicated in a recent post-effective amendment.
XRP Price Prediction for May 1: Technical Setup Shows Weak Momentum
The Relative Strength Index (RSI) for XRP is currently at 52.79, slightly above the neutral 50 mark. This shows that buying and selling pressure are nearly equal. It also suggests that momentum is weak going into May.
However, the RSI has recently dipped from higher levels, potentially signaling weakening bullish momentum or increasing bearish pressure.
Additionally, the Bollinger Bands consist of a 20-day Simple Moving Average (SMA) at approximately $2.15, an upper band around $2.30, and a lower band near $1.99.
Related: ProShares Set to Launch Three XRP Futures ETFs This May After SEC Approval
XRP is trading in the upper half of the band, but is not near the top. This suggests some upward pressure, but not enough to break resistance. The bands are also narrowing, which means lower volatility may continue in the short term.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
