XRP ETF delay, After the SEC postponed its ruling on Franklin Templeton’s planned XRP-spot ETF, XRP came under fresh selling pressure on Wednesday, April 30. Following a peak of $3.3621 on Monday, April 28, the token plummeted to a low of $2.1269 before stabilising. Legal ambiguity and mounting investor discontent drive this pattern of declining performance.
John Squire Suggests ETF Delay Tied to XRP Payment Theory
XRP promoter John Squire fueled suspicions by suggesting that the SEC might be considering XRP as a form of settlement payment. He posited an idea that gained support throughout social media. If the U.S. government were to settle with Ripple and accept XRP instead of cash, the delay in ETF licenses might be a purposeful manoeuvre.
He explained that licensing XRP-spot ETFS might stimulate institutional inflows and lead to a significant price increase. That spike would enhance the value of XRP, making it more costly for the SEC if XRP were utilised in a litigation settlement. According to Squire, postponing the ETF might be the SEC’s strategy for obtaining a reduced settlement cost before approving a price-boosting event.
“If the SEC is considering accepting XRP as payment,” he added, “the last thing they want is a price rally triggered by ETF hype. Delaying the ETF gives them time to finalize a cheaper settlement, then unleash the ETF afterward.”
Ripple Lawsuit Settlement Could Unlock XRP ETF
Another factor affecting the SEC’s delay may be its pending appeal involving Ripple’s Programmatic Sales judgment. Recently, Ripple and the SEC jointly filed a combined motion to halt the appeal, suggesting a possible settlement. Terms under consideration allegedly include lifting the injunction on institutional sales and decreasing Ripple’s $125 million penalty. Should both sides agree to settle, Ripple might remove its cross-appeal, and the SEC could remove its challenge. Such a resolution would remove a major legal obstacle, potentially clearing the way for the approval of an XRP-spot ETF.
June 17: A Pivotal Date for XRP’s Future
Crypto lawyer Bill Morgan highlighted that the delay in ETF approval coincides disturbingly near a court-mandated SEC status update. The revised review date—June 17, 2025—comes just after the 60-day reporting limit set by a court order dated April 16, 2025.
John Squire reinforced the significance of the date:
“Eyes on June 17. That could be the day we see the true direction of XRP’s future. Until then, every delay might just be a piece of the strategy.”
XRP Price Outlook: Legal Moves and Market Forces in Focus
XRP lost 2.12% on April 30, following a 2.43% loss the day before, closing at $2.1918. The coin lagged behind the overall crypto market, which saw a slight 0.20% decrease to a $2.9 trillion valuation.
Short-term XRP price movement will depend on numerous overlapping factors, including:
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Finalisation of the Ripple-SEC legal settlement
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Momentum behind XRP-spot ETF approvals
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Broader macroeconomic signals, such as Federal Reserve policy and US-China trade negotiations
XRP is now finding support around $2.10. A break over $2.50 might lay the door for a move above $3.00, with an eventual retest of its all-time high of $3.5505 in sight.
Bitcoin Slips as US GDP Contracts in Q1 2025
Bitcoin’s performance paralleled XRP’s decline, momentarily dipping below $93,000 after poor Q1 GDP figures were released. The US economy dropped by 0.3%, contradicting forecast expectations of 0.3% growth following a 2.4% rise in Q4 2024. The revelation reduced investor confidence and caused sell-offs throughout digital asset markets.
BTC ETF Inflows at Risk After Strong April
The economic uncertainty led to a decline in demand for BTC-spot ETFS. April 30 saw significant net outflows:
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Fidelity Wise Origin Bitcoin Fund (FBTC): -$137.5 million
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ARK 21Shares Bitcoin ETF (ARKB): -$130.8 million
The eight-day inflow run appeared to be at risk, with a total of $323.3 million in outflows (excluding data from the iShares Bitcoin Trust). IBIT would require a significant daily input to extend the trend.
Still, April was a bullish month overall, as US BTC-spot ETFS saw $2.675 billion in net inflows, reversing March’s $704 million in losses and enabling BTC to conclude April with a 14.12% gain, despite recent downturn.
BTC Price Forecast Hinges on Policy, Trade, and Regulation
BTC closed April 30 down 0.19%, finishing at $94,160 after a 0.70% fall the previous day. Short-term movement now rests on a mix of global policy moves and legislative developments. Bearish reasons include rising US-China trade tensions, hawkish comments from the Federal Reserve, negative US economic statistics, and slowing ETF inflows. An improved global trade mood, crypto-friendly laws, dovish Fed actions, and fresh ETF momentum may all generate bullish signals. Two new measures could further alter the cryptocurrency environment.
Senator Cynthia Lummis reintroduced the Bitcoin Act, calling for the U.S. to acquire one million BTC over five years with a 20-year lock-up term. Meanwhile, Arizona enacted a Bitcoin Reserve measure, allowing the state to invest up to 10% of its public funds in Bitcoin and other digital assets. The bill now awaits the signature of Democratic Governor Katie Hobbs.
