Why XRP (Ripple) Is Dropping Today
Crypto token XRP (CRYPTO: XRP) is falling on Wednesday. The price had fallen 5.3% in the last 24 hours as of 11:20 a.m. ET. The move comes as the S 500 lost 1.2% and the Nasdaq Composite lost 1.6%.
Crypto investors were disappointed to learn that the Securities and Exchange Commission (SEC) is delaying a key regulatory decision that would allow for the creation of an XRP exchange-traded fund (ETF).
The SEC revealed yesterday that it is delaying until mid-June its decision on Cboe BZX Exchange's request to list and trade shares of the Franklin XRP Fund. The decision deadline was May 3, but the SEC said it "finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein."
Source Fool.com
