Coinbase’s Scheduled Downtime On XRP ETF Approval Date Sparks Speculation, What’s Going On?

Coinbase has introduced a system upkeep scheduled for a similar day the SEC plans to determine on the proposed XRP ETF. Market watcher ChartNerd pointed out the date alignment on X, suggesting it might trace at attainable behind-the-scenes preparations. While Coinbase mentioned the upkeep is routine, analysts are nonetheless curious and questioning if there’s a larger cause behind it.

Coinbase Confirms October 25 Maintenance Amid SEC XRP ETF Decision Window

In a recent post on X, Coinbase confirmed {that a} scheduled system upkeep will start on October 25 at 7:00 AM PT and final for 4 hours. During this time, customers will be unable to commerce, switch, stake, or use bank card capabilities on the alternate. However, account viewing will nonetheless be attainable, although most different options will probably be unavailable. The platform additionally shared that futures and derivatives trading will probably be offline from 4:00 AM to 1:00 PM PT, as each methods bear overlapping upkeep.

This prolonged downtime is drawing further consideration as a result of it occurs to fall on the identical day the SEC is expected to decide on the proposed XRP ETF. Many customers discover this timing uncommon, because it coincides with one of the anticipated regulatory decisions within the crypto market. Market analyst ChartNerd, in a put up on X, questioned why Coinbase would select such a crucial day for upkeep. 

The analyst’s remark rapidly unfold, with merchants commenting that the overlap won’t be a easy coincidence. If the SEC declares whereas Coinbase is offline, merchants might not have the ability to react quick. Others imagine Coinbase might be getting ready its methods for heavy trading if the XRP ETF will get authorised.

Analyst ChartNerd Points To Possible Coordination Behind The Timing

According to ChartNerd’s put up on X, each the Coinbase upkeep and the SEC’s XRP ETF decision window fall on October 25, which appears to line up too completely for some analysts to disregard. ChartNerd instructed that this overlap won’t be random however might as an alternative present some type of back-end preparation going down. 

The analyst additionally identified that Coinbase is likely one of the largest U.S. exchanges that relisted XRP after the Ripple lawsuit. Because of this, Coinbase would doubtless be a central hub for XRP trading if the ETF is authorised. The timing has led many analysts to suppose that Coinbase’s upkeep might sign early ETF readiness.

However, others argue it might merely be routine system upkeep, unrelated to any ETF choice. Whether the timing is a coincidence or an indication of preparation, the crypto neighborhood will probably be paying close attention to what occurs on October 25, as each occasions might form the following huge transfer for XRP and the broader market.