Crypto

XRP Slides as SEC Delays ETF Reviews; Bitcoin Hits New High on Crypto Legislation Progress

The U.S. Securities and Exchange Commission (SEC) has delayed its decision on several XRP spot ETF applications, including the high-profile Grayscale XRP Trust conversion. The delay has sparked investor frustration and raised doubts over any near-term ETF approvals, despite rising interest from institutional players.

While analysts like James Seyffart of Bloomberg Intelligence emphasize that such delays are standard procedure, the broader market sees these postponements as a red flag given the legal cloud still hanging over Ripple Labs.

In particular, the May 15 court ruling in the SEC vs. Ripple case denied the SEC’s motion to revise an injunction on XRP’s institutional sales, complicating the pathway to ETF approval. With a potential Ripple cross-appeal looming, legal clarity may not arrive until later in 2025.


On May 20, XRP dropped 1% to $2.3566, underperforming the broader crypto market, which gained 0.82%. The price action reflects persistent legal headwinds and a lack of short-term ETF momentum.

Key Price Levels:

  • Support: $2.30
  • Resistance: $2.6553 → $3.00 → All-time high at $3.5505

Bullish Scenario:

  • SEC softens stance or drops appeal
  • Progress on U.S. crypto legislation
  • Positive ETF developments in Q3–Q4
    Could push XRP toward $3.00+

Bearish Scenario:

  • Further legal delays or unfavorable court rulings
  • SEC maintains aggressive posture
  • Broader risk-off market mood
    May send XRP back toward $2.30 or lower

🟠 Bitcoin Breaks $106K as U.S. Lawmakers Back Pro-Crypto Bill

While XRP stumbled, Bitcoin (BTC) extended its rally, closing at $106,856 on May 20 — a new record high — fueled by legislative progress on Capitol Hill. The GENIUS Act, a landmark crypto regulatory framework, passed the Senate, boosting hopes for broader reform and paving the way for potential passage of the Bitcoin Act.

Introduced by Senator Cynthia Lummis, the Bitcoin Act proposes a government acquisition of 1 million BTC over five years with a 20-year statutory hold — a policy that could sharply restrict supply and drive long-term prices higher.


💼 BTC Spot ETFs See Massive Inflows, Backing Rally Momentum

Bitcoin’s gains are further supported by robust ETF inflows across the U.S. market. On May 20, data from Farside Investors revealed net inflows of $41.7 million, excluding BlackRock’s iShares Bitcoin Trust.

ETF Flow Highlights:

  • FBTC (Fidelity): +$23.3M
  • ARKB (ARK 21Shares): +$6.4M
  • BTC (Grayscale Mini Trust): +$6.2M
  • BITB (Bitwise): +$5.8M

Since mid-April, total BTC ETF inflows have exceeded $6.63 billion, a historic sign of growing institutional demand.


📈 BTC Price Forecast: What to Watch Next

Key Levels:

  • Support: $102,500 → $100,000
  • Resistance: $109,312 (All-time high)

Bullish Scenario:

  • Passage of GENIUS Act and Bitcoin Act
  • Continued ETF inflows
  • Positive U.S. macroeconomic data
    Could break resistance and send BTC toward $110K and beyond

Bearish Scenario:

  • Renewed U.S.-China trade tensions
  • Stalled crypto legislation
  • Profit-taking and ETF outflows
    Might pull BTC back below $100K

Stay Informed with Latest News with Daily Forex Pakistan.

Yasher Rizwan

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