U.S. SEC Delays Decision-Making on Franklin Templeton’s Spot XRP ETF: What Next?

Monicah W

The post U.S. SEC Delays Decision-Making on Franklin Templeton’s Spot XRP ETF: What Next? appeared first on Coinpedia Fintech News

  • The U.S. SEC recently approved XRP futures ETF, thus dramatically increasing the odds for a spot XRP ETF soon.
  • The commission delayed decision-making for the Franklin XRP Fund by another 45 days.
  • XRP price has signaled bullish sentiment toward $3 bolstered by institutional investors.

Sherry Haywood, an Assistant Secretary for the United States Securities and Exchange Commission (SEC), announced on Tuesday that the agency has delayed the decision making for the proposed rule change to list and trade shares of the Franklin XRP Fund under BZX Rule. According to the filing dated April 29, the commission pushed the next decision making date to June 17, 2025.

Experts Insights on Spot XRP ETF Outlook

According to James Seyffart, an ETF specialist with Bloomberg, the U.S. SEC has until mid-October for the final decision deadline for the spot XRP ETFs. However, Seyffart highlighted that the commission may not take all the time until the fourth quarter to issue final decisions for the spot XRP ETFs.

Moreover, the U.S. SEC approved the first ever XRP futures ETF by ProShares earlier this week, with the launch date anticipated in the near term. Additionally, the Donald Trump administration has remained pro-crypto to bolster the country’s wider economic plan.

Market Impact

Following the announcement, XRP price gained 1 percent to trade about $2.3 on Tuesday, during the mid North American trading session. The large-cap altcoin, with a fully diluted valuation of about $229 billion and a 24 hour average trading volume of about $2.5 billion, has significantly benefited from the wider adoption by institutional investors and global liquidity expansion.

From a technical analysis standpoint, XRP is well-positioned to enter its long-awaited price discovery phase. According to crypto analyst MikyBull, XRP price has successfully retested the support level around $2 and is now ready to rally towards the next target range of between $4 and $6.

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3 Altcoins to Watch in the Final Week of April 2025

As April comes to an end, many altcoins are enjoying gains, especially in the last seven days, stemming from Bitcoin’s run up to $95,00. A few key tokens are looking at a bullish start in May due to varying factors.

BeInCrypto has analyzed three such altcoins for investors to watch in the last few days of April as they prepare for important developments.

BNB

BNB is currently showing positive performance, with expectations for further gains this week due to the upcoming Lorentz hard fork. Set to go live on April 30, the upgrade will bring faster blocks to the chain, which is likely to boost network efficiency and support a potential price rise for the altcoin.

Having broken free from a two-and-a-half-month downtrend, BNB is now trading at $606. The altcoin is aiming to breach the $618 resistance, and if successful, it could capitalize on bullish momentum from the Lorentz upgrade. This would set the stage for a potential rise to $647.

BNB Price Analysis.
BNB Price Analysis. Source: TradingView

If BNB fails to break the $618 resistance, a decline could follow, potentially dropping the price below $600. In this scenario, BNB may find support at $576, which would invalidate the bullish outlook. Monitoring the $618 level will be key for assessing the altcoin’s trajectory in the coming days.

Kaspa (KAS)

KAS has gained 27% over the past week, helping to invalidate the bearish signals from the Ichimoku Cloud. Currently trading at $0.099, the altcoin is nearing the critical $0.103 resistance level. If this momentum continues, KAS could potentially break through and establish a new bullish trend.

The upcoming Crescendo upgrade is expected to drive further positive momentum for KAS. With the mainnet activation set to increase the network’s transaction capacity tenfold to 10 blocks per second (BPS), this event could play a pivotal role in propelling the price upwards and attracting more investor interest.

KAS Price Analysis
KAS Price Analysis. Source: TradingView

If the Crescendo upgrade lives up to expectations, KAS could rise to $0.112, potentially reaching $0.120. However, if KAS fails to breach the $0.103 level, the altcoin may experience a decline. A drop below $0.092 could send the price toward $0.083, invalidating the current bullish outlook.

Aave (AAVE)

Another altcoin to watch in the last week of April is AAVE, which has experienced a strong 22% rise this week, making it one of the best-performing altcoins. Despite the impressive gains, the current price action suggests that AAVE has not yet reached its peak. The altcoin still has room for further upward momentum, supported by strong market interest.

The Relative Strength Index (RSI) indicates that AAVE is currently in the bullish zone but is far from the overbought level of 70.0. With plenty of room before hitting this threshold, AAVE’s price could continue rising, potentially surpassing $180 and reaching $198.

AAVE Price Analysis.
AAVE Price Analysis. Source: TradingView

However, if the bullish momentum weakens, AAVE could see a decline below the $167 support level. In this case, the price may fall to $153, and if this support level is breached, AAVE could drop to $126. Such a move would invalidate the current bullish outlook, signaling a possible trend reversal.

The post 3 Altcoins to Watch in the Final Week of April 2025 appeared first on BeInCrypto.

Crypto Today: Altcoins Find New Buyers as Microsoft, Apple and Nvidia Lose $1 Trillion in 3 Days

Donald Trump’s Tariffs Raise Odds Of US Recession & What It Means For Crypto Market

Crypto market capitalization closed the week above $2.7 trillion mark on Saturday, April 5, while Trade war panic wiped over $1 trillion off US tech stocks including Apple, NVIDIA and Microsoft.

Microsoft, Apple and Nvidia all lose $3 trillion valuation as Trump tariffs Wipe Out $1 trillion in 3 days

As Trump announced fresh tariffs on Wednesday, global Markets reacted swiftly. The Dow Jones Industrial Average dropped over 3000 points plunging 7.4%, while Crude Oil (WTI) also tumbled more than 10% as manufacturers and commodities traders brace for a blip in global commerce.

But the most dramatic losses came from the United States’ technology sector. Apple, Microsoft, and NVIDIA—three of the most valuable companies globally—shed more than $1 trillion in market capitalization combined after Trump announced the sweeping tariffs on Wednesday.

US Stock Market Performance over the past week, April 5 2025 | Source: TradingView
US Stock Market Performance over the past week, April 5 2025 | Source: TradingView

Apple alone fell 15.02% on the week, while NVIDIA’s stock lost 15.4% following supply chain concerns tied to the semiconductor industry. Microsoft declined 15.9%, extending its weekly loss to the steepest seen since October.

Notably, all three stocks which traded above the $3 trillion mark in the past year have now plunged below that historic threshold.

Largest Companies globally ranked by market capitalization as of April 5 2025 | Source: companiesmarketcap.com
Largest Companies globally ranked by market capitalization as of April 5 2025 | Source: companiesmarketcap.com

At press time, on Saturday April 5, Apple (AAPL) sits atop with $2.83 trillion market cap, while Microsoft (MSFT) and NVIDIA (NVDA) follow with current valuations of $2.7 and $2.3 trillion valuations respectively.

Historically, such synchronized declines among the biggest U.S. corporations suggest investors are reacting to systemic market risks rather than, individual stock performance outlook.

This affirms that China’s swift retaliation—announcing new tariffs on U.S. exports within 48 hours—has sparked fears of a sustained trade war.

The looming supply chain risks has prompted investors to pivot away from US stocks towards alternative markets like private credit and cryptocurrencies.

Altcoins Brace for Breakout as Crypto Market Cap Holds at $2.7T  Amid Trade War Concerns

Bitcoin price has held firmly above the $80,000 mark, despite US Trade tariffs sparking intense market turbulence across global financial markets over the past week.  BTC’s resilient price action has caught investor’s attention, with the positive sentiment extending towards altcoins.

On Wednesday, the White House triggered widespread investor anxiety by unveiling sweeping new tariffs on imports from multiple trading partners, including China, India, Mexico, and the European Union.

Early market reactions show that cryptocurrencies withstood the sell-pressure while US Stocks, and manufacturing commodities markets nose-dived.

Crypto Spot Market Performance, April 5 2025 | Source: Coingecko 
Crypto Spot Market Performance, April 5 2025 | Source: Coingecko

As seen in the Coingecko chart above, the aggregate crypto market capitalization stands at $2.7 trillion at press time, keeping weekly timeframe losses below the 8% mark. Not only has Bitcoin price held above the $82,000, the resilient performance extended to the crypto sector as a whole.

As seen in the chart, top ranked altcoins like XRP, BNB and Cardano are holding key support levels around $2, $590 and $0.65 respectively, as global markets saw major sell-off response to Trump’s tarrfis.

But in the crypto-sector as weak hands exited, and BTC held steady, altcoin found new buyers as as investors exiting us stocks sought assets unexposed to trade tensions. In effect, Crypto markets only declined 8% in the past week, while Microsoft, Nvidia and Apple all plunged by more than 15%.

As investors exited those markets, the displaced capital found its way into the crypto markets, which has kept top altcoins that Ethereum, XRP, BNB. and Solana consolidating near the $1,800, $2, $600.

For context, of the top 5 ranked cryptocurrencies are posting BTC, ETH, BNB and XRP are all posting less than 1% losses on the weekly timeframe.

Meanwhile, Solana the worst performer among the top-ranked altcoins this week, settles at $119 at press time, having only plunged 5%, despite active bearish catalyst from token unlocks, and upcoming FTX payouts.

The post Crypto Today: Altcoins Find New Buyers as Microsoft, Apple and Nvidia Lose $1 Trillion in 3 Days appeared first on CoinGape.

Ripple’s RLUSD Can Be Frozen to Comply with GENIUS Act, Confirms CTO

Ripple’s Chief Technology Officer, David Schwartz, has confirmed that the Ripple USD (RLUSD) stablecoin can be temporarily halted or reversed to comply with legal or regulatory requirements.

Schwartz’s statement comes after Senator Bill Hagerty updated the GENIUS Act. The bill requires stablecoin issuers to implement technology that allows freezing, seizing, or stopping transfers when legally mandated.

Ripple Technology Enables Freezing of RLUSD Stablecoin

The Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act was introduced on February 4. On March 10, Senator Hagerty unveiled an amended version of the bill, which included several key changes. The bill,

“Requires the permitted payment stablecoin issuer to seize, freeze, burn, or prevent the transfer of payment stablecoins issued by the permitted payment stablecoin issuer.”

Attorney Jeremy Hogan took to social media platform X (formerly Twitter) to question the bill’s practical implications. He particularly stressed the technological capabilities required for stablecoin issuers to implement the proposed rule.

“So, can Ripple or Circle actually freeze RLUSD or USDC once it’s transferred? I didn’t think that was possible for either,” Hogan posted.

In response, Schwartz confirmed that this is indeed possible. 

“RLUSD can be frozen or clawed back,” he answered. 

Schwartz clarified that this functionality is essential to ensure that the balances on the ledger remain aligned with the legal obligations of the issuer. Since off-ledger events, like court orders, can change or nullify those obligations, it’s important for issuers to have the ability to update the ledger as needed.

It should be noted that in January, the XRP Ledger (XRPL) activated the clawback amendment. This followed a 90% vote from its community. 

This change allows token issuers to retrieve tokens from wallets that have been deposited into Automated Market Maker (AMM) pools. This, in turn, helps maintain adherence to regulatory requirements. Given that RLUSD is natively issued on both the XRP Ledger and Ethereum (ETH) blockchains, the clawback functionality applies to it as well.

The bill also stipulates federal oversight for stablecoin issuers with market values exceeding $10 billion. At present, only Tether (USDT) and USD Coin (USDC) meet this threshold. 

Meanwhile, RLUSD is a relatively new stablecoin. Ripple launched it on December 17, 2024. In addition, BeInCrypto data shows that it currently has a market capitalization of 135.1 million.

Therefore, as per the act, it will remain under state regulation. However, the state should also follow a framework comparable to federal standards.

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