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XRP Price Slips as Legal Uncertainty Clouds ETF Outlook, While Bitcoin Holds Strong Above $100K

XRP’s recent rally stalls amid regulatory silence, while Bitcoin continues its bullish momentum, fueled by optimism over a U.S.-China trade deal and strong institutional demand.

📉 XRP Stumbles After ETF Buzz Fades

XRP briefly surged to $2.4813 on May 11 amid growing speculation around a possible XRP-spot ETF, but the rally lost steam as BlackRock remained silent regarding its recent meeting with the SEC. The lack of clarity spooked investors, causing XRP to drop to $2.3665 by session close.

Despite multiple applications for XRP ETFs—including those from 21Shares, Bitwise, Grayscale, and Franklin Templeton—the SEC has extended the review period, delaying any short-term catalyst for XRP’s price.

However, regulatory progress may still be on the horizon. The SEC filed a motion to vacate the XRP injunction and reduce Ripple’s penalty from $125 million to $50 million, a move widely seen as a step toward settlement. If approved by Judge Analisa Torres, this could open the door for XRP-spot ETF approvals and bring legal clarity.

🔎 Legal Outlook:

A court ruling is pending on the SEC and Ripple’s joint motion.
If granted, it will allow both parties to settle and withdraw appeals.
Market analysts view this as a critical trigger for renewed XRP demand.

📊 XRP Price Forecast:

Support Level: $2.10
Resistance Level: $2.50 → Breakout could target $3.00 and retest the $3.5505 all-time high
Short-Term Sentiment: Bearish consolidation amid legal limbo

🟢 Bitcoin Maintains Strength Above $100K

While XRP faced pressure, Bitcoin (BTC) held firm, closing at $103,805 after bouncing from $95K just days ago. The momentum remains strong as investors digest news of a potential U.S.-China trade agreement announced on May 11.

Key Factors Supporting BTC:

Optimism over a zero-tariff US-China trade deal.
Strong ETF inflows, including:
- $54.7M into ARK 21Shares ETF (ARKB)
- $39.9M into Fidelity’s FBTC
- $10.5M into Bitwise’s BITB
Anticipation around the reintroduced Bitcoin Act, proposing the U.S. acquire 1 million BTC over five years.

Despite slight profit-taking, BTC remains in bullish territory and could surge toward its record high of $109,312 if macro sentiment remains favorable.

📊 Bitcoin Price Forecast:

Immediate Resistance: $109,000 (ATH)
Support Level: $100,000
Outlook: Bullish, driven by institutional demand and macro developments

🔎 What to Watch:

SEC’s decision on XRP-Ripple settlement
XRP-spot ETF approvals
US-China trade deal details
Inflation data and Fed commentary
Bitcoin ETF inflow trends

Stay updated on XRP, Bitcoin, and all major crypto developments at www.dailyforex.pk – your trusted source for real-time financial analysis and market news in Pakistan.

Yasher Rizwan