XRP retracts as SEC delays the decision of Franklin Templeton ETF

The US Secure and Exchange Commission delayed its decision on the Suggested Fund of Franklin XRP, Spot Fund for the exchange of KSRP, which submitted a Franklin Templeton property manager.

According to his most recent submissionSex extended the revision period at 17. June, from the starting period 3. May. The sec noted that additional time was needed to assess the application and associated regulatory problems.

Franklin Templeton, which manages over 1.5 trillion of the dollar property, submitted a proposal to March 13, through CBOE BZX Stock Exchange. The SEK has officially published a public comment submission in the Federal Register 19. March.

According to the applicable rules, the sec can last up to 90 days to approvenegate or expand their decision. In this case, he decided to postpone.

At the foot, sex noticed:

“The Commission is appropriate to mark for a long time in which the action will take … so there is enough time to consider changes to the proposed rules and questions that are set up in them.”

Despite growing market awaits, XRPs (XRP) The price reacts with caution. CSRP currently trades around $ 2.22, showing little volatility and a noticeable decline in volume. As per crypto.news dataThe trading volume was reduced by 32% in the last 24 hours, it proposes that traders are waiting for more clear signals. At 55, the relative power index indicates a neutral momentum.

The movement of average represent an optimistic image. The KSRP currently trades almost all significant short-term and medium-term average average. The average convergence / divergence moving suggests potential pressure up, but most oscillators also shows indecision.

If Bullish Pressure still exists, and the CSRP recovers greater support above $ 2.30, the next resistance is near 2.50 dollars, and interrupts can target an area of ​​$ 2.85 of $ 2.85. On the other hand, XRP can fall to $ 2.00 or in the worst scenario, return to $ 1.85 if the current consolidation breaks down.