XRP News Today: XRP Drops 10% to $2.15 as SEC Delays ETF Ruling

The price of XRP has experienced a significant decline, currently trading at $2.15. This drop follows the U.S. Securities and Exchange Commission's (SEC) decision to delay its ruling on the Franklin Templeton XRP ETF application. The new review deadline has been extended to November 2025, introducing further uncertainty into the market.

Analyzing XRP’s daily price chart reveals weak momentum in both directions. The price action is choppy and range-bound, fluctuating between $2.10 and $2.35. Unless the price breaks out of this range, traders anticipate that XRP will continue to move sideways in the short term. Key support levels to monitor are between $2.10 and $2.05. If XRP falls below this range, the next support levels are between $1.95 and $1.91, followed by $1.80. On the bullish side, resistance is seen around $2.32 to $2.36. A clear move above this resistance could pave the way for a rally towards $2.44 and $2.60.

Despite the recent dip, XRP has been in an uptrend since April’s low. There is still potential for a fifth wave rally that could push XRP prices above $5 in the long run. However, for this to occur, XRP needs to hold its support levels and break above recent highs. In the short term, unless XRP can climb past $2.33 and form a clear bullish pattern, the price is expected to remain range-bound. Traders are closely watching to see if the market finds a stable support zone soon.

The SEC’s decision delay has clearly shaken the market, and while long-term bullish hopes remain, XRP is currently struggling for momentum. Until a clearer move happens, traders can expect more sideways price action in the coming days. The near-term XRP price outlook is influenced by several factors, including Judge Torres' settlement ruling and ETF-related developments. A breakout above $2.2 could open the door to retesting higher price targets. Some technical analyses indicate that XRP could reach $5–and possibly as high as $14–if key resistance levels are breached. However, the delay in the SEC's decision could allow more investors to enter the market, potentially leading to price consolidation at $2. Analysts suggest that the token could be on the verge of a major rally, potentially reaching up to $19 in this cycle. The SEC has also opened proceedings for two proposed ETFs tied to Solana and XRP from Franklin Templeton on the Cboe BZX Exchange. Despite the legal overhang from the Ripple-SEC case, XRP has shown bullish technicals and upbeat analyst forecasts targeting $8–$19 this cycle.