Hey! So, here’s the lowdown on what’s happening with XRP — and yeah, it’s been a bit of a rollercoaster. XRP's price dipped recently because the SEC still hasn’t officially dropped its appeal in the Ripple lawsuit, which has been dragging on forever. Everyone thought this was finally done back in March when Ripple’s CEO Brad Garlinghouse pretty much declared victory. But turns out, the SEC staff agreed to drop it, not the actual commissioners. And for anything to be official, the Commission has to vote — and they just... haven’t.

There was a closed-door SEC meeting on May 1, but nothing came out of it. Now everyone’s looking at the next one on May 8, hoping they finally vote to withdraw the appeal. The uncertainty has made investors a bit jittery — XRP lost about 1% on May 3, and it’s been tracking the broader crypto market, which is also feeling the pressure.

On the bright side, there’s growing optimism around a potential XRP spot ETF. Betting markets are putting the chances of that happening by the end of 2025 at 79%, which is pretty high! That said, the SEC probably needs to wrap up this lawsuit before approving any ETF.

So yeah, XRP’s in a weird place — stuck between legal limbo and bullish potential. If the SEC does drop the case and an ETF gets greenlit, XRP could shoot up. But if delays continue, it might dip further. Let’s see what happens on May 8!