XRP Price Surges to 7-Week High Amid ETF & BlackRockBuzz Legal Breakthroughs

Ripple’s native token, XRP, spiked to a 7-week high over the weekend, briefly touching $2.48 before pulling back slightly to hold support around $2.40. This price action signals bullish momentum and potential for further upside, especially as investor optimism grows over a possible XRP-based ETF and progress in Ripple’s ongoing legal battle with the SEC.

XRP Rally Fueled by BlackRock ETF Speculation and Legal Hopes

Investor excitement was ignited by speculation that BlackRock may be preparing to file for an XRP spot ETF, which could dramatically boost market sentiment and institutional demand for XRP. On Saturday, May 10, XRP jumped 5.44%, bolstered by renewed interest in institutional adoption and fresh optimism surrounding the resolution of Ripple’s high-profile lawsuit.

A viral post from a crypto community member claimed that BlackRock held talks with the U.S. Securities and Exchange Commission (SEC) about expanding its crypto ETF offerings to include XRP. While this remains unconfirmed, the rumor alone was powerful enough to drive a sharp price rally and fuel bullish sentiment.

BlackRock’s Quiet Moves Stir XRP Market Speculation

Although BlackRock hasn’t officially commented on any XRP ETF plans, the firm’s success with its iShares Bitcoin Trust (IBIT), which has attracted over $44 billion, suggests they may be laying the groundwork for broader exposure to cryptocurrencies like XRP. The mere possibility of a BlackRock-backed XRP ETF is reshaping expectations and drawing new capital into the market. 

XRP Technical Outlook: Bullish Setup Signals Possible Breakout

XRP’s recent price action showcases a strong technical pattern. On May 11, XRP traded between $2.35 and $2.47, showing solid support near the $2.40 level. A decisive breakout above the $2.50 resistance zone could pave the way toward higher levels, with $2.75 and even $3.00 on the horizon.

According to CoinStats, XRP soared from $1.68 to $2.41 in just 24 hours, a $0.73 gain. While the broader crypto rally added fuel to the fire, XRP stood out among major altcoins for its remarkable strength and volume.

However, short-term resistance near $2.50 remains a hurdle. Analysts believe XRP needs a strong daily candle close above $2.475 to spark another leg up. “A break above that level could unlock upside potential toward $2.60,” said Sophie Kim of TokenPost.

XRP Lawsuit Nears Settlement, Sparks Investor Confidence

One of the most important developments driving XRP’s rise is a possible resolution in the Ripple vs. SEC lawsuit. Reports suggest the SEC has submitted a settlement proposal to the court, potentially eliminating the injunction that restricts Ripple’s institutional XRP sales. Additionally, the regulator may reduce Ripple’s $125 million penalty, clearing the way for both parties to abandon their appeals.

A favorable resolution would bring clarity to one of crypto’s most-watched legal disputes. Ripple has long argued that XRP is not a security, and a legal victory could legitimize the asset in the eyes of U.S. regulators and institutional investors.

Legal analyst Eleanor Terrett noted a dramatic shift in the SEC’s approach. “The SEC Crypto Task Force has held nearly 100 meetings with industry leaders since February, an unprecedented change after years of regulatory resistance,” she observed.

Investor Sentiment Soars: XRP Enters 'Extreme Greed' Territory

The XRP market is experiencing a surge in investor confidence. According to the Ripple Fear and Greed Index, sentiment has hit “Extreme Greed,” rising to 65 from 49 in just one week. This shift reflects the growing enthusiasm surrounding Ripple’s legal outlook, ETF rumors, and strong technicals.

Source: cfgi.io

Social media activity, rising trading volume, and positive chart patterns all point to renewed bullish momentum. XRP has now tested the $2.50 resistance level three times in the past month, each time facing minor rejections due to profit-taking. However, analysts suggest another breakout attempt could be imminent.

“Weekly volume averages are 38% above the 30-day mean,” reported analysts at CoinGape, noting that strong support at $2.24 could serve as a launchpad for the next upward move.

Global Economic News Boosts Crypto Risk Appetite

Adding to the bullish momentum is improving sentiment in global markets. Trade talks between the United States and China resumed in Geneva over the weekend, signaling potential tariff reductions and a more favorable economic climate.

Former President Donald Trump’s recent comments suggested a more flexible stance on China tariffs, stating, “80% tariff on China seems right! Up to Scott B,” referring to Treasury Secretary Scott Bessent. This softer tone is giving investors hope for reduced inflationary pressure and renewed confidence in risk assets like cryptocurrencies.

This macroeconomic backdrop is creating ideal conditions for assets like XRP, which already has a compelling institutional narrative.

XRP Price Forecast: $2.75 Target in Sight, $3.00 Possible

From a technical standpoint, XRP continues to trade above both its 50-day and 200-day exponential moving averages (EMAs), supporting a bullish outlook. With a Relative Strength Index (RSI) of 63.30, there’s still room for the asset to rise before reaching overbought territory.

XRP also aligns closely with the weekly 61.8% Fibonacci retracement level, suggesting possible targets of $3.20 to $3.43 if momentum sustains.

Market watchers are eyeing $2.75 as the next key resistance. A successful breakout above this level could spark a run toward the $3.00 psychological zone, and potentially test the 2025 high of $3.3999, especially if legal clarity and ETF news continue to evolve positively.

However, if XRP dips below support at $2.24, the short-term bullish narrative could weaken, potentially dragging the price back toward $1.93.

Conclusion: XRP at a Crossroads Amid ETF Rumors and Legal Clarity

XRP is at a pivotal moment, with powerful tailwinds from ETF speculation, legal resolution prospects, and favorable macroeconomic trends. Whether the token can break out and sustain new highs depends on several key factors—most notably, the outcome of the Ripple lawsuit, official word from BlackRock, and broader market conditions.

For now, all eyes are on the $2.50 resistance, which could be the gateway to XRP’s next big rally.