XRP Spot ETF has been delayed again! SEC has postponed the approval to October, how to position key support level after XRP falls nearly 9%? | XRP Price Prediction

The U.S. Securities and Exchange Commission (SEC) announced this week that it has postponed the approval decisions for XRP Spot ETFs from several institutions including Grayscale and Bitwise, extending the deadline to October. This move shattered market expectations for a quick approval following Ripple's joint withdrawal of the lawsuit with the SEC on August 7, leading to an 8.8% big dump of XRP over the week. Analysts point out that before the case is formally concluded and a standardized encryption ETF framework is introduced, XRP will continue to face high pressure, and its short-term trends will depend on Fed policies, court rulings, and changes in ETF fund flows.

SEC policy shift: Trump's pro-encryption policies lose momentum

The SEC has postponed the approval process for five XRP Spot ETFs this week, including Grayscale XRP Trust, Canary XRP Trust, CoinShares XRP Trust, 21Shares Core XRP Trust, and Bitwise XRP ETF. This move indicates a weakening momentum for the cryptocurrency policies promoted by the Trump administration, and the SEC may be using the delay period to build a standardized encryption ETF framework. Nate Geraci, president of wealth management firm Nova Dius, stated that a unified framework will "open the floodgates," triggering a new wave of cryptocurrency ETF approvals.

XRP price fluctuates: key support level under pressure testing

XRP fell to a low of $2.8204 on Wednesday (August 20), with a single-day decline of 8.8%. Although it briefly rebounded to $2.9578, it ultimately closed at $2.8684 due to Bitcoin's pullback from $115,000. On Thursday, it continued to drop by 3.39%, underperforming the market (the overall encryption market fell by 1.85%). The current price is approaching the low of $2.7254 on August 3, and if it breaks this level, it may test the psychological level of $2.5.

Long and Short Game: Six Catalysts Determine Future Trends

The short-term price direction of XRP depends on the following key factors:

1. U.S. Court of Appeals Ruling: The court officially accepted that the ETF is unlikely to be approved before Ripple and the SEC jointly withdraw their lawsuit.
2. XRP Spot ETF Progress: SEC's Final Approval Stance
3. The adoption of treasury reserve assets: The progress of institutions accepting XRP as reserve assets.
4. Ripple's Application for US Bank License: Office of the Comptroller of the Currency (OCC) Approval Results
5. SWIFT system update: The impact of Ripple's cross-border payment solution on the traditional financial system
6. Legislative Dynamics: The level of support from both parties for the CLARITY Act.

Bear market scenario: Legislation stalled, OCC denies bank charter, SEC rejects ETF, price may fall below $2.7254.

Bull market scenario: ETF approval, bank licenses granted, SWIFT market share loss, price may break historical high of 3.6606 USD (Binance data), moving towards the 5 USD target.

Macroeconomic Pressure: Fed Policy Disturbing the Encryption Market

Bitcoin is also under pressure, with funds flowing out of the BTC Spot ETF for two consecutive days ahead of Fed Chairman Powell's speech at Jackson Hole:

• On August 20, a single day outflow of 315.9 million USD
• On August 21, excluding the outflow of 66.9 million USD from BlackRock's IBIT, there was an outflow of 31.8 million USD from Fidelity's FBTC and 43.3 million USD from ARKB. If Powell's stance is hawkish, delaying interest rate cuts may strengthen the dollar's suppression of risk assets; if the focus is on the labor market supporting interest rate cuts, it would be beneficial for the rebound of encryption assets.

Trading Strategy: Keep a Close Eye on the Direction of the Three Major Signals

Investors need to pay close attention to:

1. XRP Spot ETF news: SEC's statement changes before October
2. Legislative Progress: Bipartisan Negotiations on the CLARITY Act
3. Fed Policy: Powell's Speech Tone and Interest Rate Path Signals

If BTC falls below $110,000, it may trigger a chain sell-off, targeting the psychological support at $100,000; if ETF funds flow back and policies are favorable, it could rise to the historical high of $123,731.

Conclusion

XRP is facing a dual test from policy and market sentiment: the SEC's delay in approval reflects a cautious regulatory trend, while macroeconomic uncertainty exacerbates capital outflows. In the short term, close attention should be paid to the final court ruling in October and the progress of the ETF framework, while the medium to long term will depend on the implementation of the Ripple ecosystem and the evolution of the cross-border payment landscape. The overall encryption market is still dominated by Fed policies, and investors need to be wary of the amplified volatility risk before the September interest rate decision.