What happened?
The U.S. government shutdown has paused the SEC’s review process and pushed back decisions on several spot XRP ETF applications. Deadlines like Franklin’s were moved to November 14, with new rulings now expected in mid‑to‑late November once the agency resumes. Meanwhile, REX‑Osprey’s XRPR has already gathered over $100 million and XRP trading volume jumped about 22% as the price moved above $2.6.
Who does this affect?
Retail and institutional investors waiting for spot XRP ETFs are affected because the delay keeps regulated, easy access to XRP on hold. ETF issuers, exchanges, and fund managers face uncertainty and delayed inflows while the SEC remains offline. Traders and market makers are also impacted since the pause can keep volatility and trading opportunities elevated until approvals or clearer guidance arrive.
Why does this matter?
Delaying ETF approvals slows potential large, regulated capital inflows that could boost XRP liquidity and prices. The strong demand for XRPR shows there’s latent investor interest, so approvals could spark notable rallies toward resistance levels like $3.6 or higher. In the near term, shutdown‑related uncertainty is likely to keep price swings and liquidity shifts elevated, so the market could see more volatility while everyone waits for ETF news.