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A scheduled Coinbase system maintenance on October 25 has stirred widespread speculation across crypto markets. The outage coincides with the SEC’s expected decision on several spot XRP exchange-traded fund (ETF) applications. Analysts now question whether the timing may signal deeper coordination or simply a coincidence during a critical moment for XRP investors.
Coinbase announced that its maintenance will begin at 7:00 AM PT and last for four hours on October 25. During this time, users will be unable to trade, transfer, stake, or use credit card transactions. Although accounts remain viewable, most platform functions will be temporarily suspended.
Further, the exchange confirmed that the trading of futures and derivatives will be offline between 4:00 AM and 1:00 PM PT, as there will be overlapping maintenance. This prolonged downage, which has happened on the very same day when SEC can make decisions on ETFs, has caused concern among the trading fraternity.
Market analyst ChartNerd noted that the two events are on the same day, which could mean that they are getting ready for a major regulatory milestone. Coinbase, one of the first exchanges in the US to resume XRP trading following the Ripple lawsuit, might also be an important part of ETF-based trading where approvals are granted.
The US Securities and Exchange Commission is reviewing several spot XRP ETF proposals between October 18 and 25. The applicants include Grayscale, WisdomTree, Canary Capital, 21Shares, and CoinShares. However, the ongoing U.S. government shutdown has delayed many reviews and blurred the original deadlines.
According to industry reporter Eleanor Terret, the SEC has asked certain issuers to withdraw or amend their 19b-4 forms, a procedural step that often signals internal reassessment. Some firms have already refiled or submitted amended S-1 forms, which can precede approval in similar cases.
Investors are closely watching these developments as uncertainty rises. The overlapping schedule between Coinbase’s outage and the SEC’s review window has fueled theories that backend technical adjustments may be underway to prepare for potential ETF-driven activity.
Market strategists caution that Coinbase’s temporary shutdown could affect liquidity if the SEC announces approval during that window. If the ETFs gain approval, trading demand could surge suddenly, yet Coinbase users would be unable to respond in real time. Such a scenario could heighten volatility and disrupt price discovery.
Nate Geraci, president of Novadius Wealth Management, remarked that ETF approvals could resume swiftly once the government shutdown ends. This statement added further attention to the week’s critical developments.
Alternatively, if SEC delays or denies approval, the outage may appear as a defensive move to contain possible reactions. For traders, this timing adds complexity to an already tense market environment.
XRP trades around $2.50 on CoinMarketCap, with a 24-hour trading volume exceeding $6.58 billion. It ranks #5 by market capitalization with a circulating supply of nearly 59.9 billion XRP. Over the past day, the token has gained 2.20% as anticipation builds ahead of the SEC’s final word.
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The coincidence between Coinbase’s scheduled outage and SEC’s expected XRP ETF decision has fueled widespread debate among analysts and investors. Many view the overlap as more than a coincidence, considering Coinbase’s pivotal role in XRP trading.
