XRP News Today: Second Circle Offer? XRP Gains Amid SEC Silence and ETF Watch

Ripple Reportedly Renews Bid for Circle Amid Expansion Push

Investor focus shifted away from the SEC vs. Ripple case toward Ripple’s broader US expansion efforts. Speculation intensified on Thursday, May 1, about Ripple making a second offer to acquire Circle, the USD Coin (USDC) issuer. Crypto enthusiast Amelie, also known as Crypto Barbie on X (formerly Twitter), stated:

“Ripple has not backed away from its interest in Circle. Reports suggest Ripple’s CEO, Brad Garlinghouse, has raised the offer to $20 billion and the deal is likely moving forward toward completion.”

Earlier this week, Circle reportedly rejected Ripple’s $5 billion offer, spotlighting Ripple’s expansion goals. Pro-crypto lawyer Bill Morgan remarked on a potential reason for Ripple’s bid:

“I just took it that RLUSD adoption is just not happening quickly enough to satisfy Ripple’s ambitions. Perhaps RLUSD was a part of a strategy aimed at Circle acquisition.”

Crypto enthusiast Crypto Eri supported the theory of a potential second bid, stating:

“Ripple buying Circle is not for the financials. It curbs competition, controls USDC, dominates the stablecoin market, sidelines smaller rivals, and takes over Circle’s payment network that will be fueled by an IPO. How much is that worth? A lot. Second offer incoming IMO.”

Meanwhile, speculation continues around Ripple’s ambitions to challenge SWIFT’s dominance, potentially driving XRP demand. The Ripple CEO recently hinted at wanting more than a partnership, stating:

“Trillions of dollars move across borders, yet SWIFT, a 50-year-old system, still dominates. This is a massive opportunity for modernization.”

XRP Outlook: Legal Proceedings and ETF Developments in Focus

XRP gained 0.95% on Thursday, May 1, partially reversing Wednesday’s 2.12% loss, closing at $2.2127. The token underperformed the broader crypto market, which rallied 2.06%, taking the total crypto market cap of $2.96 trillion.

The SEC’s continued silence in the Ripple case capped XRP’s gains.

Looking ahead, key drivers of XRP price trends include:

• Progress in Ripple’s legal settlement and potential appeals.
• Movement on XRP-spot ETF applications.
• Broader macroeconomic influences, including Fed policy and US-China trade tensions.

Technically, XRP finds near-term support at $2.10. A breakout above $2.50 may open the path toward $3.00 and a potential retest of the all-time high at $3.5505.

See our full XRP forecast here.

Bitcoin Tests $97K as Nasdaq Rallies on Earnings

XRP’s gains were modest relative to bitcoin (BTC), which briefly revisited the $97,000 handle for the first time since February 21. Upbeat US corporate earnings fueled risk sentiment, driving the Nasdaq Composite Index up 1.52% and contributing to BTC’s gains.

Microsoft (MSFT) ended Thursday up 7.63%, while Meta Platforms (META) rallied 4.23% after beating earnings forecasts. Meanwhile, tariff developments continued boosting BTC demand, testing the theory of Bitcoin being digital gold. Gold fell 1.52% on May 1, extending its losing streak to three sessions and closing at $3,238 as trade tensions eased.

Julio Moreno, Head of Research at CryptoQuant, commented on tariff effects on inflation, stating:

“Tariff talk doesn’t increase prices. Imports surged before tariffs went into effect, so there’s inventory at pre-tariff prices. Tariffs for most countries were delayed. Effects yet to be seen, if Trump doesn’t back down… again.”

Tariffs remain a wildcard for inflation and crypto markets. Fed policymakers fear Trump’s tariff policies could spur stagflation by raising import costs and dampening consumer demand. The Fed could leave rates higher for longer to tame inflation at the expense of the economy, impacting risk assets.

ETF Flows Reignite Bitcoin Momentum

Improved trade sentiment also supported renewed demand for US BTC-spot ETFs, influencing BTC price trends. On April 30, BTC-spot ETF issuers reported net outflows of $56.3 million as investors reacted to US GDP data, showing a contraction in Q1 2025. Significantly, Wednesday’s outflows ended an eight-day inflow streak.

However, the US BTC-spot ETF market saw a rebound in inflows on May 1, supporting BTC’s return to $97,000. According to Farside Investors:

• Grayscale Bitcoin Mini Trust (BTC) had net inflows of $41.9 million.
• Bitwise Bitcoin ETF (BITB) saw net inflows of $38.4 million.
• Fidelity Wise Origin Bitcoin Fund (FBTC) reported net inflows of $29.5 million.
• Meanwhile, ARK 21Shares Bitcoin ETF (ARKB) saw net outflows of $87.2 million.

Excluding pending data from BlackRock’s (BLK) iShares Bitcoin Trust (IBIT), US issuers reported $71.1 million in net inflows.

BTC Price Outlook: Policy and Legislation in Focus

BTC rallied 2.43% on Thursday, May 1, reversing Wednesday’s 0.19% drop to close at $96,453.

Key drivers for BTC’s near-term direction include:

• Bearish Scenario: Rising US-China tensions, hawkish Fed signals, weak US economic data, delays in crypto legislation, and renewed ETF outflows. Bearish sentiment could send BTC below $90,000.
• Bullish Scenario: Improved trade ties, a dovish Fed, upbeat macro data, pro-crypto legislation, and sustained ETF inflows. Bullish sentiment could drive BTC above $100,000.

Key legislation includes the Bitcoin Act. Senator Cynthia Lummis reintroduced the Bitcoin Act, proposing the US acquire one million BTC over five years with a 20-year holding period, potentially a major demand catalyst.

Separately, Arizona passed a bill allowing up to 10% of public funds to be invested in digital assets like Bitcoin. The legislation awaits Governor Katie Hobbs’ signature and may signal growing bipartisan support for crypto asset exposure.

What to Watch

Investors should monitor legal developments in the Ripple case, ETF flows, macroeconomic signals, and central bank policy guidance. A favorable Ripple ruling could reignite XRP momentum, while broader crypto market sentiment hinges on regulatory clarity and economic shifts.

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