Key Highlights:
- XRP rises 1.08% as Ripple releases a strong Q1 2025 report.
- Teucrium’s 2x Long Daily XRP ETF debuts with $5M in volume.
- SEC may vote to finalize Ripple settlement and appeal withdrawal on May 8.
- Bitcoin surges to $96,845 amid renewed U.S.-China trade optimism.
XRP Rises Amid Ripple-SEC Settlement Buzz
XRP saw modest gains on Tuesday, May 6, climbing 1.08% to $2.1549 as investors reacted positively to Ripple’s Q1 2025 Markets Report. CEO Brad Garlinghouse confirmed Ripple’s acquisition of Hidden Road and indicated that the long-standing SEC lawsuit was approaching resolution. Ripple also announced the end of quarterly XRP reports, citing misuse of past reports by regulators.
Key Takeaways from Ripple’s Report:
- Ripple and SEC agreed to end the lawsuit, pending a Commission vote.
- Proposed settlement includes vacating the injunction and reducing the fine from $125M to $50M.
- Ripple acquired Hidden Road for $1.25B to support XRP Ledger adoption.
- Teucrium launched a 2x Long Daily XRP ETF with $5M in trading volume.
Investor focus now shifts to the SEC’s closed meeting scheduled for May 8, where commissioners are expected to vote on the Ripple settlement and appeal withdrawal. A formal decision could impact XRP’s ETF potential and long-term price outlook.
XRP Technical Outlook:
- Support: $2.10
- Resistance: $2.50 (next key level), $3.00 (potential breakout), $3.55 (ATH retest)
Bitcoin (BTC) Surges as Trade Optimism Returns
Bitcoin rallied 2.19% on May 6 to close at $96,845, benefiting from improving sentiment around U.S.-China trade relations. China’s Commerce Ministry confirmed intentions to re-engage with Washington, easing investor fears of prolonged trade tensions.
Meanwhile, gold prices fell nearly 2% as capital rotated into risk assets. Despite this, Bitcoin continues to receive strong institutional inflows through spot ETFs, particularly BlackRock’s IBIT fund.
Spot ETF Flow Data (May 5-6):
- IBIT (BlackRock): $531.2M net inflows
- GBTC (Grayscale): $89.9M net outflows
- ARKB (ARK 21Shares): $16.1M net outflows
- Total net inflows since April 7: $4.45B
Bitcoin Technical Levels:
- Bullish Target: $100,000
- Bearish Risk: Drop below $90,000 on trade tensions or ETF outflows
Legislative Support Adds to Momentum Senator Cynthia Lummis reintroduced the Bitcoin Act, calling for the U.S. to acquire 1 million BTC over 5 years. On May 6, New Hampshire became the first state to approve crypto investment for public funds, while Arizona vetoed a similar proposal.
What to Watch:
- Ripple-SEC legal updates
- BTC ETF net flows
- Global economic data and Fed policy direction
- Legislative developments like the Bitcoin Act
XRP and Bitcoin continue to gain traction amid regulatory clarity, rising ETF interest, and macroeconomic shifts. A favorable SEC decision could propel XRP higher, while continued ETF inflows and pro-crypto policy tailwinds may push BTC toward six figures.
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