XRP News: SEC Delays ETF Reviews as Legal Challenges Persist; Bitcoin Reaches $106,000

By Bob Mason | Published: May 21, 2025

In a significant development for the cryptocurrency market, the U.S. Securities and Exchange Commission (SEC) has announced delays in its review of XRP-spot exchange-traded funds (ETFs). This decision raises concerns among investors regarding the timelines for potential approvals, particularly in light of ongoing legal challenges faced by Ripple Labs, the issuer of XRP.

SEC Delays XRP-Spot ETF Reviews

The SEC’s decision, made on May 20, comes as a setback for the anticipated launch of XRP-spot ETFs, particularly the conversion of the Grayscale XRP Trust to an ETF. The regulatory body has yet to set specific deadlines for these reviews, which has resulted in trepidation among investors regarding the future of XRP in the ETF market. Analysts have pointed out that the SEC typically utilizes the maximum allotted time to respond to 19b-4 filings, with final decisions expected by October due to existing intermediate deadlines for various XRP-related ETFs.

James Seyffart, a Bloomberg Intelligence analyst, commented on the delays by emphasizing that they are usually not unexpected. “The SEC typically takes the full time to respond… Almost all of these filings have final due dates in October,” Seyffart noted. However, recent court rulings in the SEC vs. Ripple case, particularly one from May 15, have dampened expectations of a quick review. The ruling denied the SEC’s request for a settlement that could have resolved some of the injunctions regarding XRP institutional sales.

As the legal landscape remains uncertain, Ripple’s potential cross-appeal against the SEC could prove crucial in determining the future course of XRP-spot ETF approvals.

XRP Price Decline Amid Broader Market Gains

In the midst of these developments, XRP’s price dipped by 1% to $2.3566, following a decline of 2.01% the previous day. This underperformance is notable against the backdrop of a broader crypto market, which saw gains of 0.82%, pushing the total market cap to $3.31 trillion.

Market analysts suggest that XRP’s future price movements will heavily depend on updates regarding U.S. cryptocurrency legislation, upcoming court filings, and decisions related to XRP-spot ETFs. Technical support for XRP is currently set at $2.30, with hopes that a break past the recent high of $2.6553 could lead to a surge toward $3.00. ## Bitcoin Surges as GENIUS Act Advances

In contrast to XRP’s struggles, Bitcoin (BTC) has enjoyed a notable rise, reaching a record closing price of $106,856 on May 20. Investor optimism was buoyed by the Senate’s passage of the GENIUS Act on May 19, which has implications for future crypto legislation. The Act’s success in Congress is seen as a potential catalyst for other key regulatory initiatives within the cryptocurrency ecosystem.

Legal expert John E. Deaton highlighted the importance of the GENIUS Act, pointing out that its passage is pivotal for any long-term cryptocurrency reforms. He stated, “If Congress can’t get the GENIUS Act passed, we won’t see a Market Structure’s Bill.”

Additionally, the potential introduction of the Bitcoin Act, aiming for the U.S. government to hold one million bitcoins over a 20-year span, has further fueled excitement and speculation around Bitcoin’s future performance.

BTC-Spot ETF Inflows Drive Demand

Bitcoin’s gains have also been bolstered by substantial inflows into U.S. BTC-spot ETFs, which saw net inflows amounting to $667.4 million on May 19 alone. This trend reflects a positive sentiment among investors, with several ETFs reporting significant contributions, including Fidelity’s Wise Origin Bitcoin Fund and ARK’s Bitcoin ETF.

According to market analytics firm Santiment, the continued inflow into Bitcoin ETFs is historically viewed as a bullish indicator for future price movements, affirming the market’s optimism.

Future Outlook: What to Watch

As the cryptocurrency landscape evolves, market participants are advised to closely monitor ongoing legal proceedings involving Ripple, developments regarding the GENIUS Act and other legislative efforts, and macroeconomic indicators that could influence price trends in the sector.

The shifts in both regulatory frameworks and market sentiment will play a critical role in shaping the near-term futures for prominent cryptocurrencies like XRP and Bitcoin.

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About the Author
Bob Mason has over 28 years of experience in finance, covering a range of assets including currencies, commodities, and global equities. He specializes in analyzing market trends and developments affecting cryptocurrencies, with a focus on European and Asian markets.

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