XRP Slips 25% Despite Ripple and JPMorgan Tokenized Treasury Settlement

XRP experienced a sharp 25% correction below $1.42, despite the successful cross-border settlement of tokenized Treasuries between Ripple and JPMorgan on the XRPL. New on-chain data suggests a potential easing of selling pressure, as exchanges recorded $115.02 million in XRP outflows against only $99.41 million in inflows. Markets are now pivoting toward a major regulatory catalyst, with the U.S. Senate Banking Committee scheduled to vote on a cryptocurrency bill on May 14. This legislative focus comes as XRP continues to close the valuation gap with Ethereum, challenging its position as the second-largest digital asset. While retail network growth remains low, the shift toward institutional utility is being bolstered by these upcoming regulatory milestones. Investors are closely monitoring the Senate vote as a potential turning point for the industry's legal framework.