XRP ETF postponed again by the SEC! Ripple's legal outcome remains uncertain, BTC falls below 112,000 USD under market pressure.

The U.S. Securities and Exchange Commission (SEC) has once again postponed the approval deadline for multiple XRP Spot ETFs, undermining investor optimism and putting pressure on the XRP price to fall. At the same time, Bitcoin (BTC) fell below $112,000 ahead of Federal Reserve Chairman Powell's upcoming Jackson Hole speech, with continued outflows from ETF funds reflecting a lack of short-term confidence in the overall crypto market.

XRP ETF Delay: Ripple Legal Outcome Becomes Key Variable

The SEC announced this week to postpone the approval or rejection of the following multiple XRP Spot ETFs:

1. Grayscale XRP Trust

2. Canary XRP Trust

3. CoinShares XRP Trust

4、21Shares Core XRP Trust

5、Bitwise XRP ETF

The decision postponed to October means that the possibility of XRP ETF approval is extremely low before the U.S. appellate court officially approves Ripple's joint withdrawal of the appeal with the SEC, ending nearly five years of legal disputes.

Nate Geraci, the president of Nova Dius Wealth, stated that the SEC may launch a standardized encryption ETF framework during this period, which, once implemented, could trigger "wave after wave" of ETF approvals, changing the landscape of the crypto market.

XRP Price Trend: Falls below $2.87, short-term under pressure

(Source: Trading View)

This week's fall: 8.8%

Low: $2.8204 (August 20)

Current price: 2.8684 USD

In the short term, the price trend of XRP depends on:

1. The U.S. Court of Appeals' ruling on the Ripple case

2. XRP Spot ETF approval progress

3. Ripple's application for a US chartered banking license

4. The adoption of XRP as a treasury reserve asset.

5. Latest developments in integration with SWIFT

6. Development of U.S. Legislation (such as the CLARITY Act)

Technical Outlook:

Bearish scenario: If legislation is blocked and the ETF is delayed again, XRP may fall below the support of 2.7254 USD, further probing down to 2.5 USD.

Bullish scenario: If the ETF is approved and legislation is favorable, XRP is expected to break through the high point of 3.6606 USD and even challenge 5 USD.

BTC market under pressure: ETF fund outflows and macro uncertainty

Before Powell's speech, BTC faces selling pressure:

Closing on August 21: $112,464 (fall 1.61%)

ETF fund outflow:

On August 20, an outflow of 315.9 million USD.

Fidelity FBTC outflow of 31.8 million USD

ARK 21Shares ARKB outflows 43.3 million USD

BlackRock IBIT saw a daily outflow of 220 million USD.

Macroeconomic Factors:

Labor market data supports a rate cut, but inflation data rises due to tariffs.

If Powell's stance is hawkish → rate cuts delayed → US dollar strengthens → BTC under pressure

If the stance is dovish → Interest rate cut expectations rise → The dollar weakens → BTC demand rebounds

BTC Technical Analysis and Outlook

(Source: Trading View)

Bearish scenario: Legislative barriers + hawkish policies + ETF capital outflow → BTC may fall to $110,000, testing the psychological support at $100,000

Bullish scenario: Favorable legislation + dovish policies + ETF fund inflows → BTC is expected to challenge the historical high of 123,731 USD.

Conclusion

XRP and BTC are currently facing dual pressure from regulation and macroeconomic factors:

XRP: ETF delay + Ripple case unresolved → Short-term trend is weak

BTC: ETF fund outflow + uncertainty before Powell's speech → strong market wait-and-see sentiment

In the coming weeks, the ruling of the U.S. Court of Appeals on the Ripple case and Powell's policy signals will be key variables affecting the trends of the two major assets.