XRP Faces Steep Decline Against Bitcoin Despite Bullish Developments

XRP, one of the top altcoins, has seen a sharp decline of over 18% against Bitcoin (BTC) in the last 12 days, currently trading at 0.00002120 BTC on Binance. On Monday alone, XRP dropped another 1.5%, underperforming despite several bullish developments in its ecosystem.

One major catalyst was the Dubai Land Department’s (DLD) announcement of launching its real estate tokenization platform on the XRP Ledger, highlighting XRP’s real-world utility. Additionally, the CME Group launched XRP futures on May 18, following its earlier rollout of Solana (SOL) futures. However, these developments failed to ignite upward momentum for the token.

XRP’s performance stands out negatively among the top 10 cryptocurrencies, as it is the only one to post losses over the past week. In contrast, Bitcoin continues to gain strength, buoyed by growing institutional interest and strong ETF inflows.

Prominent critics have taken notice. Bitcoin maximalist Justin Bechler commented on the recent "brutal" price action, adding to the bearish sentiment surrounding the XRP community.

Analysts from Bloomberg suggest that the SEC is unlikely to approve a spot XRP ETF until late 2025, although a surprise approval could come as early as July. The regulatory uncertainty continues to weigh on XRP’s market outlook.

Adding to the confusion are rumors about Ripple engaging in acquisition talks with stablecoin issuer Circle. Ripple has publicly denied any informal discussions, leaving investors uncertain about the company's strategic direction.

Despite promising developments, XRP struggles to maintain investor confidence as Bitcoin and other altcoins outperform. Until regulatory clarity and stronger market catalysts emerge, XRP’s recovery against BTC may remain elusive.