XRP News Today: Legal Clouds, ETF Bets Stir Volatility in XRP Price Forecast; BTC Below $115k

XRP Tests Crucial Support as SEC Silence Sours Sentiment

The SEC’s silence after its closed meeting on July 31 impacted investor sentiment, weighing on demand for XRP. Hopes for an SEC vote to withdraw its appeal in the Ripple case faded as a court filing deadline loomed.

The SEC must vote on whether to drop its appeal against the Programmatic Sales of XRP ruling after Judge Torres rejected a joint motion for an indicative ruling on settlement terms.

Five weeks have passed since Judge Torres’ ruling, and the SEC must give the US Court of Appeals a status report on the settlement by August 15. With no settlement in play and Ripple willing to drop its cross-appeal, an end to the Ripple case and XRP’s price trajectory sits in the SEC’s hands.

A surprise move to proceed with the appeal would trigger an XRP sell-off, while a vote to withdraw could fuel a breakout. An end to the case may be a crucial stepping stone toward an XRP-spot ETF market. The SEC may decline XRP-spot ETF applications if it proceeds with the appeal.

Despite rising volatility in XRP, legal experts expect the SEC to withdraw the appeal. Former SEC lawyer Marc Fagel recently commented:

“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 Price Outlook: Crypto Bills, Ripple Case, and ETFs in the Spotlight

XRP declined 2.41% on Thursday, July 31, after Wednesday’s 1.05% drop, closing at $3.0222. The token underperformed the broader market, which fell 1.95% to a total crypto market cap of $3.73 trillion.

XRP’s near-term price outlook hinges on several key catalysts, including:

• The SEC’s appeal vote.
• XRP-spot ETF-related news
• Ripple’s push for a US banking license.
• SWIFT-related news
• Legislation: The CLARITY Act and 21ST Century Mortgage Act’s progress on Capitol Hill.

A breakout above $3.1 could enable the bulls to target the $3.3 level. A sustained move above $3.3 may pave the way to the record high of $3.6606. Conversely, a break below the $3 level may expose the $2.8 level.

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

Bitcoin Hit as Markets Cut Fed Rate Cut Bets

Bitcoin (BTC) joined XRP in the red for the second consecutive session on July 31. Investors reacted to a hotter-than-expected US Personal Income and Outlays Report, cutting rate cut expectations.

The US Core PCE Price Index rose 2.8% year-on-year in July, mirroring June’s increase. Economists expected the Index to rise 2.7% in July. Additionally, personal income and spending rebounded in July, suggesting a pickup in inflationary pressures.

According to the CME FedWatch Tool, the chances of a September Fed rate cut fell from 47.6% on July 30 to 37.2% on July 31.

Robin Brooks, Senior Fellow at the Brookings Institution, remarked:

“There’s all kinds of reasons people give why the Dollar has fallen this year. At the root of all that stuff is a simple macro story: tariffs were supposed to lift inflation and that just didn’t happen as fast as people expected. Well, it’s happening now. Inflation is coming…”

A more hawkish Fed rate path could raise borrowing costs, impacting demand for credit and inflows into risk assets such as BTC.

US BTC-Spot ETF Market Faces Heavy Outflows

Demand for US BTC-spot ETFs also waned amid fading expectations of a 2025 Fed rate cut. According to Farside Investors, key flows for July 31 included:

• ARK 21Shares Bitcoin ETF (ARKB) reported net outflows of $89.9 million.
• Fidelity Wise Origin Bitcoin Fund (FBTC) saw net outflows of $53.6 million.

With BlackRock (BLK) iShares Bitcoin Trust (IBIT) flow data pending, total US BTC-spot ETF outflows reached $133.4 million, potentially snapping a five-day inflow streak.

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

BTC dropped 1.69% on Thursday, July 31, following Wednesday’s 0.12% loss, closing at $115,801.

Several key drivers will dictate the near-term price outlook. These include:

• The US Jobs Report.
• Fed commentary.
• Legislative Developments: The CLARITY Act’s progress on Capitol Hill.
• BTC-spot ETF flows.

Potential scenarios:

• Bearish Scenario: Legislation roadblocks, strong US labor market data, hawkish Fed cues, and ETF outflows. A combination of these may drag BTC toward the 50-day Exponential Moving Average (EMA), potentially exposing the $110,000 support level.
• Bullish Scenario: Bipartisan support for the CLARITY Act, a softer US labor market, dovish Fed rhetoric, and ETF inflows. In this case, BTC may target the all-time high of $122,055.

Key Market Drivers to Fuel or Derail a Breakout

Investors should closely monitor the key drivers, which will likely determine whether XRP and BTC can hit new record highs. These include:

• Ripple case updates: Pending SEC appeal vote.
• Legislative developments: The CLARITY Act.
• US economic data: The US Jobs Report.
• Fed commentary: 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.