XRP and Bitcoin Market Update: SEC Vote Looms for XRP, BTC Eyes $100K Amid Bullish Momentum

Key Highlights:

• XRP holds near $2.13 ahead of a critical SEC vote that could lift the appeal and institutional sales ban.
• Ripple-SEC joint motion signals progress toward settlement, with May 8 set as a potential decision day.
• Teucrium’s 2x XRP ETF debuts with $5M volume, ranking among top ETF launches.
• Bitcoin trades above $97K as institutional ETF demand picks up post-Fed decision.

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Ripple vs SEC: Final Decision May 8

The crypto world turns its attention to the SEC’s closed meeting on Thursday, May 8, where commissioners will vote on Ripple-related issues. Potential agenda items include withdrawing the appeal, lifting the XRP institutional sales ban, and reducing Ripple’s penalty from $125M to $50M.

The SEC staff has agreed to settlement terms, and Ripple has already confirmed in its Q1 2025 Markets Report that the agency intends to withdraw its appeal.

A vote favoring Ripple is expected, given the pro-crypto stances of Chair Atkins and Commissioners Peirce and Uyeda. Former SEC lawyer John Reed Stark remarked that the SEC’s crypto enforcement division is effectively defunct, hinting at a shift in agency strategy.

XRP Price Forecast: Legal Milestones Could Spark Breakout

XRP closed at $2.1267 on May 7 after slipping 1.31%. A favorable SEC vote could be the catalyst XRP needs to break past the $2.50 resistance and retest $3.00. Key support lies at $2.10, while a breakout above $3.00 could reignite bullish momentum toward the $3.55 all-time high.

Short-term catalysts to watch:

• SEC vote on May 8
• XRP-spot ETF updates
• Macroeconomic and US-China trade developments

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Bitcoin (BTC) Climbs Past $97K After Powell Comments

While XRP lagged, Bitcoin gained on May 7, closing at $97,013 (+0.17%), following a 2.19% rally the day before. Fed Chair Jerome Powell’s press conference signaled economic resilience despite tariff-related stagflation risks. BTC surged after Powell reinforced the Fed’s data-dependent stance.

ETF Flows Drive Institutional Momentum

According to Farside Investors, May 7 ETF flows included:

• ARK 21Shares Bitcoin ETF (ARKB): +$54.7M
• Fidelity Wise Origin Bitcoin Fund (FBTC): +$39.9M
• Bitwise Bitcoin ETF (BITB): +$10.5M

Excluding BlackRock’s pending data, net inflows totaled $105.1M. IBIT, BlackRock’s Bitcoin Trust, could soon mark 17 consecutive sessions of inflows.

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BTC Price Outlook: $100K In Sight?

BTC continues to show bullish signals above $97K. Traders are watching for:

• Positive resolution to US-China trade tensions
• Dovish Fed guidance
• Further progress on the Bitcoin Act (Lummis proposal for the US to acquire 1M BTC)

Resistance stands at $100,000. A breakout could extend toward the all-time high of $109,312. On the downside, failure to maintain above $95,000 could open the door to $90,000.

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What to Watch:

• SEC vote results in the Ripple case
• BTC ETF inflow trends
• Fed tone and macro data
• Bitcoin Act developments on Capitol Hill

Stay tuned to DailyForex.pk for expert updates on crypto regulation, price analysis, and market forecasts.