XRP News Today: Legal Optimism Lifts XRP—Could $3.00 Be Next? BTC Hits $107k

SEC vs. Ripple: SEC Settlement Filing in Focus

The SEC vs. Ripple case takes center stage this week as investors await the agency’s second settlement filing, spotlighting XRP. Despite Thursday’s court ruling, rejecting the SEC’s request for an indicative ruling on settlement terms, XRP snapped a four-day losing streak on Sunday, May 18. Investors remain optimistic about Judge Torres granting a favorable indicative ruling that would ultimately bring an end to the Ripple case.

Ripple Chief Legal Officer Stuart Alderoty downplayed Judge Torres’ recent ruling, describing it a procedural matter. However, pro-crypto lawyers hold differing views on the case and whether Judge Torres would lift the injunction prohibiting XRP sales to institutional investors.

In March, James ‘MetaLawMan’ Murphy remarked:

“It is far from a sure thing that a federal judge would agree to vacate a prior ruling as part of a settlement. This was fairly commonplace several years ago when I started in the law business, but judges started balking at this in more recent times.”

Bill Morgan raised some procedural issues that could potentially delay a refiling, questioning whether the SEC must vote to file a settlement request under rule 60.

Things will likely become clearer this week. The next closed SEC meeting is on Thursday, May 22, and the Ripple case will likely be a talking point.

XRP-Spot ETF Review Deadlines Fast Approaching

Another talking point could be pending XRP-spot ETF filings. Several ETF issuers have intermediate deadlines this week, including 21Shares, Bitwise, Canary Funds, Grayscale, and WisdomTree. Thursday’s ruling could result in a 45-day delay, putting the Franklin XRP-spot ETF deadline of June 17 as the next crucial ETF date.

The deadline coincides with a court date in the Ripple case, where the parties must provide a status on the settlement after pausing the appeal process. An end to the appeal will likely be essential for the SEC to begin considering XRP-spot ETF applications.

According to Polymarket, Thursday’s ruling failed to dent investor optimism surrounding an XRP-spot ETF approval. The approval odds by December 2025 increased from 80% on May 15 to 83% on May 19.

XRP Price Outlook: Focus on Legal Developments

XRP gained 3.18% on Sunday, May 18, reversing Saturday’s 1.04% loss to close at $2.4292. The token outperformed the broader market, which gained 2.88%, taking the total crypto market cap to $3.31 trillion.

Technical support sits at $2.3. A break above the May 12 high of $2.6553 could signal a move toward $3.00, with the potential to reach the record high of $3.5505.

For a deeper dive, see our full XRP forecast here.

Bitcoin Hits Four-Month High as Legislation Takes Center Stage

Bitcoin (BTC) joined XRP and the broader market in positive territory on May 18 as investor focus shifted to the looming Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act vote. The US Senate will vote on the bill on Monday, May 19. While the vote relates to stablecoins, passing the bill could be crucial for progressing the crypto market structure bill.  Other potential legislation includes the Bitcoin Act.

Senator Cynthia Lummis recently reintroduced the Bitcoin Act, proposing the US acquire one million BTC over five years with a 20-year hold, a move that could significantly tighten supply.

BTC Price Outlook: Monitor Capitol Hill and ETF Trends

BTC rallied 3.14% on May 18, reversing a 0.3% loss from the previous session to close at $106,479.

BTC’s trajectory hinges on several key drivers. These include the GENIUS Act vote, US-China trade developments, macroeconomic data, and ETF inflows or outflows.

Potential scenarios:

• Bearish Scenario: Increasing US-China tensions, a failed GENIUS Act vote, US rising recession fears, and ETF outflows. Bearish sentiment could send BTC toward $90,000.
• Bullish Scenario: Easing trade tensions, upbeat US economic data, GENIUS Act passes in Congress, and ETF inflows. Bullish sentiment could drive BTC above the record high of $109,312.

What to Watch

Investors should closely watch the Ripple case, regulatory developments, and macroeconomic indicators. These will likely influence market sentiment and determine whether XRP and BTC can extend their bullish trends.

Read analysts’ insights on what could drive cryptocurrencies to new highs.