The SEC’s encrypted financing framework was blocked by Wall Street and has now been put on hold. That’s not great news for $XRP , which has long lived under the shadow of regulation. I think near-term sentiment will be suppressed; the market had been hoping for clearer rules, but now that’s up in the air again. This rebound for XRP has been driven by expectations of regulatory loosening—so with this pause, uncertainty comes right back. I’m not in a hurry to add to my position; I’d rather wait to see whether clearer signals emerge later. When Wall Street applies pressure, the SEC softens—suggesting its stance hasn’t hardened yet. This kind of back-and-forth is exhausting for anyone holding XRP. In fact, XRP’s fundamentals haven’t changed; the cross-border payments story is still there. But once sentiment cools, it’s hard for anything big to happen in the short term. I’d rather wait for the dust to settle than chase it at this point in time. Regulatory battles aren’t something that resolves in a day or two. The key is whether the SEC can ultimately provide a predictable framework. XRP’s upside potential isn’t bad; it’s just that each time, it gets pinned down by this kind of news. If it goes on too long, confidence inevitably wears down. At this level, I’m not bearish, but I’m also not betting—once the rules truly land, it won’t be too late for XRP to pick its direction.