The XRP price struggles continue with the Ripple vs SEC lawsuit pause, a delay in XRP ETF approval, and amid the ongoing macroeconomic events. A much-needed catalyst is the updates on these three factors. Interestingly, something might be happening on May 1 and June 9, as an expert claims a BlackRock insider advised him to watch these dates. Why? Let’s discuss.
Why Are Experts Eyeing May 1 and June 9 for XRP Price?
April is near its end and has not been entirely favorable for the crypto market’s performance, affecting the XRP price as well. The altcoin had a massive decline to $1.65 before recovering to $2.27. However, this is nowhere near the anticipated targets.
Crypto analyst Bale’s X post claims his insider friend at BlackRock has highlighted two key dates, i.e., May 1 and June 9. Although his post did not include any context of what’s happening, the crypto community anticipates it as a potential date for BlackRock’s XRP ETF filing or some similar bullish events, like the end of the Ripple vs SEC lawsuit.
Grayscale, Bitwise, and other ETF issuers have already filed for more than 15 XRP ETFs. Teucrium launched a leverage XRP ETF, and CME is set to launch one on May 19, and a few more around the globe.
However, BlackRock has not filed any yet. Some anticipate it as a lack of trust in this digital asset. However, experts anticipate it to be their cautious approach, which might settle this May 1 or June 9.
A fellow investor highlighted that it can be related to the 1 billion Ripple token release from escrow. Notably, these tokens are not released in the market. Instead, they are distributed among crypto exchanges and liquidity providers to provide liquidity.
The remaining ones get sent back to the Ripple, but this dilutes the supply, affecting the Ripple price.
XRP Price Prediction: A Crash is Forming
The Ripple token is at a critical juncture where its next move will decide its trajectory. The XRP price chart shows mixed signals, and so are the experts’ predictions. Pseudo-anonymous crypto analyst Bit Bull claims that the token has already touched the upper trendline resistance and will move downwards next.
His analysis is based on the liquidation data, as it reveals investors are opening more short positions, suggesting XRP may continue to fall.
Another analyst points out that the Ripple token is below the bull market support band (the one behind the March rally). As a result, a potential crash to $1.24 is possible before the upward momentum builds. Interestingly, this level coincided with the 2024 end breakout to $3.4.
However, this is just anticipation considering current conditions. Experts also anticipate different results based on different metrics. Therefore, investors must track XRP’s further move for better insight, especially as May 1 and June 9 are approaching.
Frequently Asked Questions (FAQs)
Crypto analyst Bale claims his BlackRock insider guy advised him to keep an eye on these dates. Although he did not reveal why, investors anticipate that something big is coming.
No, BlackRock has not filed for an XRP ETF yet, but it is rumored that they might file soon.
Crypto analysts like Bit Bull and others predict a potential XRP price crash unless bullish momentum builds.
Pooja Khardia
With a deep-seated passion for reading and five years of experience in content writing, Pooja is now focused on crafting trending content about cryptocurrency market.
As a dedicated crypto journalist, Pooja is constantly seeking out trending topics and informative statistics to create compelling pieces for crypto enthusiasts. Staying abreast of the latest trends and advancements in the field is an integral part of her daily routine, fueling a commitment to delivering timely and insightful coverage
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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