The price of XRP has fallen to $2.15 following the SEC's delay regarding the Franklin Templeton ETF application, creating additional market uncertainty.
Current XRP Price Situation
At the moment, XRP is trading at $2.15, reflecting a significant drop. This occurred shortly after the SEC postponed its decision on Franklin Templeton's ETF application, with the new review date set for November 2025.
Price Analysis and Support Levels
XRP's daily price chart shows weak momentum in both directions. The price action is currently choppy and range-bound between $2.10 and $2.35. Important support levels are identified between $2.10 and $2.05. Should XRP fall below this range, the next support lies between $1.95 and $1.91, followed by $1.80. On the bullish side, resistance is seen at $2.32 to $2.36; a clear move above this could trigger a rally toward $2.44 and $2.60.
Market Prospects for XRP
Despite the recent dip, XRP has been in an uptrend since April. There remains hope for a rally that could push XRP prices above $5 in the long run, but this requires the cryptocurrency to hold support levels and break above recent highs. In the short term, unless XRP can rise above $2.33 and form a clear bullish pattern, prices are expected to remain range-bound.
The SEC's delay has clearly shaken the market, and while long-term bullish hopes persist, XRP is currently struggling for momentum. Traders can expect more sideways price action in the coming days.
