“Senator Elizabeth Warren’s war on crypto is so all-consuming, she’ll block bipartisan stablecoin legislation designed to protect consumers—just to take a cheap political shot.”
On May 5, Senator Warren targeted the upcoming Stablecoin bill vote, asserting:
“The Trump family stablecoin surged to 7th largest in the world because of a shady crypto deal with the United Arab Emirates—a foreign government that will give them a crazy amount of money. The Senate shouldn’t pass a crypto bill this week to facilitate this kind of corruption.”
XRP remains highly sensitive to anti-crypto rhetoric from Capitol Hill. The prospect of an XRP-spot ETF market hinges on the SEC’s decision to drop its appeal against Judge Torres’ Programmatic Sales of XRP ruling. The SEC and Ripple filed a joint motion to pause the appeal in April, citing the prospect of a settlement.
XRP Outlook: Legal Developments and ETF News in Focus
XRP fell 1.27% on Monday, May 5, extending Sunday’s 1.32% loss to close at $2.1319. The token underperformed the broader crypto market, which gained 0.39%, taking the total crypto market cap to $2.9 trillion.
XRP’s near-term outlook will depend on several factors:
Appeal and settlement-related updates.
XRP-spot ETF news.
Fed policy direction and US-China trade headlines.
Key support lies at $2.10, while a breakout above $2.50 could pave the way to $3.00 and a retest of the all-time high at $3.5505.
See our full XRP forecast here.
While XRP struggled, Bitcoin’s reaction diverged.
#USHouseMarketStructureDraft #TRUMP #XRP’ #XRPSELLER #XRPBUYER
