The XRP price struggles continue with the Ripple vs SEC lawsuit pause, a delay in XRP ETF approval

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.

The crypto community is buzzing with anticipation as experts are eyeing May 1 and June 9 for 'huge' updates on the third factor that could affect the XRP price.

A much-needed catalyst for the XRP price recovery is the updates on these three factors:

* The Ripple vs SEC lawsuit pause.

* Delay in XRP ETF approval.

* Macroeconomic events.

Interestingly, an expert claims a BlackRock insider has advised him to watch these dates closely for something "huge" to happen.

Why Are Experts Eyeing May 1 and June 9 for XRP Price?

Image Credit: BenzingaDespite April coming to an end, it has not been entirely favorable for the crypto market's performance, which in turn has affected the XRP price.

The altcoin had a massive decline to $1.65 before recovering to $2.27, which is nowhere near the anticipated targets.

However, in a recent X post by crypto analyst Bale, 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.

May 1: A Key Date For BlackRock's Involvement In An XRP ETF

Some members of the crypto community were surprised that BlackRock has not yet filed for an XRP ETF. They believe it shows 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)

1. Why are May 1 and June 9 important?

An expert claims a BlackRock insider has advised him to watch these dates closely for something "huge" to happen.

2. Has Blackrock filed for an XRP ETF?

No, but 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.

3. What’s coming next for the XRP price?

The XRP price struggles continue with the Ripple vs SEC lawsuit pause, a delay in XRP ETF approval, and amid the ongoing macroeconomic events.