Key Points:
XRP rises 3.18% on May 18 amid bets on a positive resolution to the Ripple case and imminent XRP-spot ETF approvals.
XRP's legal war rages on as Judge Torres denies SEC's request for indicative ruling, introducing procedural uncertainty.
Bitcoin advances 3.14% amid bets on a vote on the GENIUS Act, which promises to remake crypto laws in the U.S.
XRP
-2.23%
Bitcoin
-1.10%
SEC vs. Ripple: SEC Settlement Filing in Focus
SEC vs. Ripple is in the limelight this week as investors await the agency's second settlement filing, highlighting XRP. Irrespective of Thursday's court decision, denying the SEC's indicative ruling request for settlement terms, XRP ended a four-day losing streak on Sunday, May 18. Investors are still hopeful that Judge Torres will approve a positive indicative ruling that would eventually end the Ripple case.
Ripple Chief Legal Officer Stuart Alderoty minimized Judge Torres' recent decision, calling it a procedural issue. Pro-crypto attorneys, however, have different opinions on the case and whether Judge Torres would remove the injunction banning XRP sales to institutional investors.
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It is by no means certain that a federal judge would assent to reversal of an earlier decision as part of a settlement. This was quite routine a number of years ago when I began in the law business, but judges began hesitating at this in later times.
Bill Morgan also brought up some procedural questions that may allow a delay in a refiling, challenging whether the SEC is required to vote on filing a settlement request under rule 60.
Issues will probably be clearer this week. There is a closed SEC meeting scheduled for Thursday, May 22, and the Ripple case will probably be discussed.
XRP-Spot ETF Review Deadlines Approaching Quickly
Another subject to discuss would be upcoming XRP-spot ETF filings. Some ETF issuers have near-term deadlines this week, such as 21Shares, Bitwise, Canary Funds, Grayscale, and WisdomTree. Thursday's decision could lead to a 45-day deferment, making the Franklin XRP-spot ETF deadline of June 17 the next important ETF date.
The deadline overlaps with a court hearing in the Ripple case, when the parties are required to report on the settlement following suspension of the appeal process. The termination of the appeal will probably be critical for the SEC to start considering XRP-spot ETF applications.
As per Polymarket, Thursday's decision was unable to undermine investor expectations about the approval of an XRP-spot ETF. By December 2025, the odds of approval were up from 80% on May 15 to 83% on May 19.
XRP
Price Outlook: Eye on Judicial Developments
XRP added 3.18% on Sunday, May 18, reversing Saturday's 1.04% decline to finish at $2.4292. The token performed better than the broader market, which added 2.88%, making the total crypto market cap $3.31 trillion.
Technical support is at $2.3. Breaking above the May 12 high of $2.6553 may indicate a push towards $3.00, with possibilities of reaching the record high of $3.5505.
XRPUSD – Daily Chart – 190525
For an in-depth analysis, check our complete XRP prediction here.
Bitcoin Reaches Four-Month High as Legislation Moves to Center Stage
Bitcoin (BTC) followed XRP and the wider market into positive ground on May 18 as investor attention turned to Monday's impending Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act vote. The US Senate will be holding the vote on Monday, May 19. Although the bill is about stablecoins, its passing might be essential to advancing the crypto market structure bill. Among other possible bills is the Bitcoin Act.
Senator Cynthia Lummis has recently reintroduced the Bitcoin Act, in which the US would buy one million BTC within five years with a 20-year lockup, a transaction that could drastically constrict supply.
BTC$BTC Price Outlook: Watch Capitol Hill and ETF Trends
BTC rose 3.14% on May 18, reversing Monday's 0.3% decline to settle at $106,479.
BTC's path relies on a number of major drivers. These are the vote on the GENIUS Act, US-China trade updates, macroeconomic data, and ETF inflows or outflows.
Possible scenarios:
Bearish Scenario: Escalating US-China tensions, failed vote on the GENIUS Act, US rising recession fears, and ETF outflows. Bearish sentiment may drive BTC to $90,000.
Bullish Scenario: Trade tensions ease, positive US economic statistics, GENIUS Act is passed in Congress, and inflows of ETFs. Bullish sentiment might push BTC higher than its all-time high of $109,312.
