XRP continues to face resistance in catching up with the broader crypto rally as the U.S. Securities and Exchange Commission (SEC) delayed its review of two XRP-spot ETF applications from CoinShares and Bitwise. These delays added another layer of uncertainty to an already murky legal situation.
While Bloomberg analyst James Seyffart anticipated the delay, XRP investors remain cautious as the token’s regulatory path remains unresolved.
“More ETF delays were expected, including those for Bitwise and CoinShares XRP filings,” Seyffart noted, “but markets were clearly hoping for progress.”
Additional ETF reviews from 21Shares and WisdomTree are still pending, with investors now shifting focus to upcoming SEC vs. Ripple court filings.
The recent decision from Judge Torres to reject the SEC’s request to revisit her earlier ruling on XRP’s institutional sales has prolonged the legal standoff. The judge cited procedural missteps, adding that the SEC failed to convincingly argue why reversing her ruling would benefit the public interest.
Pro-crypto attorney John Deaton noted that for the SEC to move forward, it may need to publicly acknowledge XRP’s classification as a commodity—an unlikely scenario without further judicial pressure.
With the SEC’s next move unclear and no official update from its May 22 closed-door meeting, XRP remains stuck in legal limbo.
Despite back-to-back gains (1.64% Wednesday and 1.53% Thursday), XRP closed at $2.4318, trailing the broader crypto market’s 2.33% rise. The total crypto market cap climbed to $3.47 trillion, but XRP struggled to keep pace.
| Support Level | $2.30 |
|---|---|
| Resistance | $2.6553 → $3.00 → $3.5505 |
A breakout above the May 12 high of $2.6553 could reignite bullish sentiment and set the stage for a move toward $3.00.
đź“Ś For more insights: XRP Price Forecast
Bitcoin (BTC) made headlines again on May 22, soaring to a new all-time high of $111,910 as crypto fans celebrated Pizza Day — the anniversary of the first commercial BTC transaction in 2010.
A programmer famously bought two pizzas for 10,000 BTC, which would now be worth over $1.11 billion.
According to Santiment, BTC’s continued rally shows bull cycle strength, with younger coin age trends and ETF momentum supporting the uptrend.
The BTC-spot ETF market reported $607.1 million in net inflows on May 21, marking six straight sessions of gains. On May 22:
“Over $7 billion in new flows this month alone,” said ETF Store President Nate Geraci, adding that strong demand has been “relentless.”
BTC closed at $111,583 on May 22, after a 1.8% gain. The near-term trajectory hinges on:
Progress on crypto regulation, strong ETF demand, and easing trade tensions could push BTC toward $115,000+.
New trade wars, economic data shocks, or a drop in ETF inflows may lead to a retracement toward $100,000.
đź“Ś Also read: Bitcoin Price Forecast
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