XRP News Today: All Eyes on SEC Vote—XRP Price Eyes 2025 Highs Above $3.39; BTC at $118k

GENIUS Act Revote Drives XRP Above $3 to Target All-Time High

House vote frenzy triggered an XRP and broader crypto market rally as the GENIUS Act inched closer to President Trump’s desk.

On Wednesday, July 15, the House progressed the GENIUS Act, aiming to deliver a regulatory framework for stablecoins. The bill could reach President Trump’s desk before the weekend. XRP would likely benefit from the legislation, since regulatory clarity over stablecoins could boost adoption of Ripple’s RLUSD, a stablecoin product.

There were also procedural votes in favor of progressing the CLARITY Act and the Anti-CBDC Surveillance State Act.

SEC vs. Ripple Case: Will the SEC Vote to Drop Its Appeal?

While crypto bills take center stage on the Hill, the SEC vs. Ripple case could also draw investor interest on Thursday, July 17. The SEC will hold its third closed meeting since Judge Analisa Torres rejected the joint motion requesting an indicative ruling on settlement terms.

The SEC and Ripple had agreed to drop their appeals if Judge Torres granted a favorable indicative ruling on the settlement terms. These included lifting the injunction prohibiting XRP sales to institutional investors and lowering the penalty to $50 million. However, Judge Torres’ ruling meant the SEC must vote on dropping its appeal without the settlement terms that were solely in Ripple’s best interest.

The SEC appealed against Judge Torres’ 2023 ruling on Programmatic Sales of XRP. A vote in favor of withdrawing the appeal would end the case. Ripple announced plans to drop its cross-appeal the day after Judge Torres rejected the settlement terms. Notably, the SEC must submit a status report to the US Court of Appeals by August 15. Ripple and the SEC could file motions with the US Court of Appeals to dismiss the appeals before the filing deadline.

An end to the case would reinforce Judge Torres’ rulings that Programmatic Sales are not investment contracts and XRP itself is not a security. The SEC’s appeal withdrawal could potentially expedite the approval of pending XRP-spot ETF applications.

Former SEC lawyer Marc Fagel downplayed the chances of an SEC vote later today, stating;

“The SEC holds a closed meeting every Thursday. The agenda is confidential, and anyone claiming to know what’s on it is making it up. There’s no doubt the SEC will be voting to dismiss the Ripple appeal in the coming weeks, but nobody outside the SEC knows exactly when.”

XRP-Spot ETF Market to Outmuscle ETH and SOL-Spot ETFs

Anticipation for the end to the Ripple case and the launch of SOL-spot ETFs has fueled speculation about an XRP-spot ETF market. Canary Capital CEO Steven McLurg commented on the potential success of an XRP-spot ETF market, reportedly stating:

“There is now a clear court precedent that XRP isn’t a security. It can easily move into a 33 Act fund. Out of all pending products, I think the XRP ETF will gain the most traction.”

Ripple’s real-world presence and increasing demand for its cross-border settlement products could give XRP the edge over ETH and SOL. A more dominant XRP-spot ETF market may also enable the token to reclaim the #2 ranking by market cap.

XRP Price Outlook: Crypto Bulls, the SEC Closed Meeting, and ETF Headlines

XRP soared 4.11% on Tuesday, July 16, reversing Monday’s 1.33% loss to close at $3.0399. The token outperformed the broader crypto market, which gained 1.87%, taking the total market cap to $3.74 trillion.

XRP’s near-term price trajectory hinges on the crypto bill votes, the SEC’s appeal vote, and US XRP-spot ETF developments.

A breakout above the July 16 high of $3.1017 could pave the way to the 2025 high at $3.3999. A sustained move through $3.3999 may enable the bulls to target the 2018 all-time high of $3.5505.

Conversely, a drop below $3 could bring this week’s low of $2.8056 into play.

Explore our full XRP forecast here for key breakout zones and timing insights.

Bitcoin Rebounds as US Producer Prices Boost Fed Rate Cut Bets

While XRP struck a six-month high, bitcoin (BTC) advanced as investors considered the GENIUS Act’s progress and the US economic calendar. The GENIUS Act likely passing shifts the focus to the CLARITY Act. The market structure bill would give much-needed regulatory clarity to the US digital asset space, potentially boosting BTC adoption.

While ‘clear rules of the road’ are essential, US economic data and the Fed rate path continue influencing BTC demand. On July 16, US producer prices signaled a softer inflation outlook, lifting expectations of a September Fed rate cut. Producer prices rose 2.3% year-on-year in June, down from 2.7% in May. Economists consider the Producer Price Index (PPI) a leading Consumer Price Index (CPI) indicator.

According to the CME FedWatch Tool, the chances of a September Fed rate cut rose from 55.6% on July 15 to 59.6% on July 16. Tuesday’s hotter US CPI Report had sent the probability of a September move down from 62.6% on July 14 to 55.6% on July 15.

US BTC-Spot ETF Market Eyes Nine-Day Inflow Streak

On Tuesday, July 15, the US BTC-spot ETF market extended its inflow streak to nine sessions, with total net inflows of $403.1 million. BlackRock’s (BLK) iShares Bitcoin Trust (IBIT) continued to dominate the spot ETF market, with net inflows of $416.3 million.

Meanwhile, flow data for July 16 points to a ten-day winning streak, driving BTC toward its all-time high of $122,057. According to Farside Investors, key flow trends for July 16 included:

• Fidelity Wise Origin Bitcoin Fund (FBTC) had net inflows of $10.4 million.
• Grayscale Bitcoin Mini Trust (BTC) saw net inflows of $5.3 million.

With IBIT and ARK 21Shares Bitcoin ETF (ARKB) flow data pending, total US BTC-spot ETF inflows reached $15.7 million.

BTC Price Outlook: US Inflation, Legislation, and Spot ETF Flows in Focus

BTC gained 0.82% on July 16, partially reversing Monday’s 1.7% loss to close at $118,641.

The near-term price trajectory depends on several key drivers, including crypto votes on Capitol Hill, US retail sales data, and spot ETF flow trends.

Potential scenarios:

• Bearish Scenario: Legislation setbacks, weaker retail sales, hawkish Fed cues, and ETF outflows. A combination of these may pull BTC toward $115,000, potentially exposing the 50-day Exponential Moving Average (EMA).
• Bullish Scenario: Bipartisan votes for crypto bills, strong US retail sales, dovish Fed rhetoric, and ETF inflows. Under these scenarios, BTC could retest the all-time high of $122,057.

What to Watch

Investors should closely track the key drivers, which could influence whether XRP and BTC can hit new record highs. These include:

• Ripple case updates: SEC appeal plans.
• Legislative developments: Lawmaker votes.
• US retail sales and Fed guidance: Hawkish or dovish signals.
• ETF market flows: Flow trends crucial for BTC’s supply-demand balance.

See where analysts expect XRP and BTC to head as legal and political risks evolve.