XRP News Today: Court Ruling Looms as ETF Hopes and $2 Support Hang in Balance

SEC vs. Ripple: Court Deadline Looms

The SEC vs. Ripple case took center stage on Thursday, June 5, as a pivotal court deadline loomed. In April 2025, the US Court of Appeals granted a joint motion to hold the SEC’s appeal in abeyance to enable progress toward a settlement. According to the court ruling, the SEC must file a status report on the settlement by June 16.

However, since the court ruling, Judge Analisa Torres denied an SEC and Ripple joint motion for an indicative ruling on settlement terms on May 15. These terms included lifting the ban on XRP sales to institutional investors and lowering the $125 million penalty.

A favorable indicative ruling on settlement terms is crucial for Ripple to drop its cross-appeal and the SEC to withdraw its appeal against the Programmatic Sales of XRP ruling.

Pro-crypto lawyer Bill Morgan remarked:

“The countdown to the date the SEC must report to the Appeal Court is now 12 days. Something has to happen by then or the Appeal and Cross-appeal continues and a briefing is due from Ripple.”

Since Judge Torres rejected the joint motion, XRP has tumbled 18%, underscoring market angst over the legal developments.

XRP Price Outlook: Court Filings and ETF News

XRP slid 4.81% on Thursday, June 5. Following Wednesday’s 1.96% decline, XRP closed at $2.0959, its lowest since April 21. Notably, the token underperformed the broader market, which declined 3.63% to a total crypto market cap of $3.13 trillion.

XRP’s near-term price outlook hinges on legal-related updates and spot ETF-related news.

A break above $2.20 could signal a climb toward $2.5 and the May 12 high of $2.6553. A sustained breakout from $2.6553 may open the door to retesting $3 and the record high of $3.5505. Conversely, a drop below $2 and the 200-day EMA could expose XRP to the $1.9299 support level.

For a deeper dive, see our full XRP forecast here.

Trump–Musk Feud Hits Bitcoin and Broader Crypto Market

While XRP trends remain hinged on legal developments, bitcoin (BTC) faced selling pressure as the President Trump–Elon Musk feud intensified. President Trump announced on June 4:

“The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon’s Government Subsidies and Contracts. I was always surprised that Biden didn’t do it!”

Notably, Tesla (TSLA) tumbled 14.26% to $284.7 overnight as investors reacted to the evolving feud.

Tony Sycamore, market analyst at IG, remarked on BTC’s pullback, stating:

“While we don’t agree with the view BTC is crashing, we do think that the dramatic fallout between Elon Musk and President Trump this week serves as a jarring wake-up call, highlighting that businesses and industries, including the crypto sector, cannot take the White House’s support for granted indefinitely.”

Sycamore’s comments highlighted the potential for Trump to pivot from pro-crypto at any time.

BTC-Spot ETF Market Outflows Add to the Gloom

Market sentiment toward the Trump-Musk feud impacted demand for BTC-spot ETFs. According to Farside Investors, key flows for June 5 included:

• ARK 21Shares Bitcoin ETF (ARKB) reported net outflows of $102 million.
• Fidelity Wise Origin Bitcoin Fund (FBTC) had net outflows of $80.2 million.
• Bitwise Bitcoin ETF (BITB) saw net outflows of $36.7 million.

Excluding pending flow data for BlackRock’s (BLK) iShares Bitcoin Trust (IBIT), the US BTC-spot ETF market saw total outflows of $278.4 million. BTC-spot ETF issuers reported net inflows of $87 million on June 4.

BTC Price Outlook: Trade News and ETF Flows

BTC slid 3% on June 5, following a 0.65% loss on Wednesday to close at $101,616. Despite the reversal, BTC avoided a drop below the key $100,000 support level.

The near-term price outlook depends on legislative updates, the US Jobs Report, Fed policy signals, trade developments, and ETF flows.

Potential scenarios:

• Bearish Scenario: Increasing trade tensions, legislation setbacks, a weak US Jobs Report, hawkish Fed rhetoric, and ETF outflows could drag BTC below the 50-day Exponential Moving Average (EMA) and $100,000.
• Bullish Scenario: Easing in trade tensions, lawmaker support for crypto bills, a strong US Jobs Report, dovish Fed cues, and ETF inflows could drive BTC toward the record high of $111,917.

What to Watch

Investors should consider Ripple case-related news, US crypto legislation, US labor market data, and Fed commentary. These factors will continue driving sentiment across XRP and BTC, potentially dictating whether the tokens revisit recent highs.

Explore analyst forecasts on where XRP and BTC may head next as legal and political factors unfold.