XRP News Today: Ripple Case Hopes Drive XRP Higher as Traders Eye $2.65; BTC at $106k

SEC vs. Ripple Case Optimism Boosts XRP Demand

Market focus returned to the SEC vs. Ripple case on Tuesday, June 24 as investors awaited Judge Analisa Torres’ crucial ruling on proposed settlement terms. Optimism about a favorable ruling on the settlement terms has bolstered XRP demand as markets recover from the Middle East conflict-triggered sell-off.

On June 12, the SEC and Ripple filed a second joint motion, requesting an indicative ruling on settlement terms. Ripple agreed to drop its cross-appeal and the SEC its appeal if Judge Torres lifts the injunction prohibiting XRP sales to institutional investors and lowers the penalty to $50 million.

However, Judge Torres shook market optimism in May by rejecting the first filing. Judge Torres cited procedural errors and inadequate arguments that a settlement would serve institutional investors and the public. While the second filing addressed the procedural error, the legal community felt the second filing fell short of meeting Judge Torres’ expectations. On June 17, Ripple filed a Supplemental Letter to bolster its side of the argument for granting the settlement terms.

Despite the optimism, XRP remains below the May high of $2.6553, struck before Judge Torres rejected the first joint motion, signaling legal uncertainty.

This week, pro-crypto lawyer Bill Morgan remarked on speculation about the final decision in the Ripple case coming in late 2026, stating:

“This is not on the cards unless Judge Torres rules against the latest joint motion and rather than make the common sense decision to live with the summary judgment decision and the current penalty and permanent injunction, the settlement process breaks down completely and both parties run their appeals. An improbable outcome.”

Could an SEC Appeal Derail XRP ETF Hopes?

The SEC’s appeal withdrawal could be crucial for ETF issuers with pending XRP-spot ETF filings. If the agency successfully appeals against the Programmatic Sales ruling, XRP would be classified as a security in secondary sales.

In the worst-case scenario, exchanges could de-list the token and the SEC may reject the pending spot ETF applications. Such an eventuality could leave XRP in the cold as the SEC may approve other crypto-spot ETFs, such as Solana-spot ETFs.

Exchanges re-listed XRP after Judge Torres ruled that programmatic sales of XRP did not satisfy the third prong of the Howey Test.

The Howey Test, used by the SEC to identify which assets fall under US securities laws, comprises three prongs: (1) An investment of money; (2) a common enterprise; (3) with a reasonable expectation of profit derived from the efforts of others.

XRP Price Outlook: Court Rulings and ETF News

XRP gained 1.4% on Tuesday, June 24, building on Monday’s 6.9% rally, closing at $2.1910. The token outperformed the broader crypto market, which climbed 0.83%, lifting the total crypto market cap to $3.23 trillion.

The near-term XRP price trajectory depends on Judge Torres’ settlement ruling, the SEC’s appeal plans, and XRP-spot ETF-related news.

A breakout from the 50-day Exponential Moving Average (EMA) could pave the way to the June 16 high of $2.3389. A sustained move above $2.3389 may open the door to retesting the May high of $2.6553. Conversely, a break below the 200-day EMA could bring the $1.9299 support level into play.

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

Bitcoin Advances as Fed Chair Powell Fuels Rate Cut Bets

While XRP advanced on optimism about the Ripple case, bitcoin (BTC) trended higher as investors raised expectations of a Q3 Fed rate cut. Fed Chair Powell sank bets on a July Fed rate cut, stating:

“For the time being, we are well positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance.”

However, markets took his view that current rates were modestly restrictive as a rate cut signal boosting demand for risk assets. The Nasdaq Composite index closed the June 24 session up 1.43%.

US BTC-spot ETFs Eye Eleven-Day Inflow Streak

Market relief over the Iran-Israel ceasefire and rising hopes on a Q3 Fed rate cut fueled BTC-spot ETF inflows. According to Farside Investors, key inflows for June 24 included:

• Fidelity Wise Origin Bitcoin Fund (FBTC) had net inflows of $85.2 million.
• ARK 21Shares Bitcoin ETF (ARKB) reported net inflows of $43.8 million.
• Grayscale Bitcoin Mini Trust (BTC), Bitwise Bitcoin ETF (BITB), and VanEck Bitcoin ETF (HODL) saw combined net inflows of $23.3 million.

With BlackRock’s (BLK) iShares Bitcoin Trust (IBIT) flow data pending, total US BTC-spot ETF inflows reached $152.3 million. Notably, the US BTC-spot ETF market may extend its net inflow streak to eleven sessions.

Inflow trends have been pivotal, supporting bullish momentum and a potential break above the record high of $111,917. Similar flows into XRP-spot ETFs could drive XRP above its all-time high of $3.3999.

BTC Price Outlook: Trade Headlines, Capitol Hill, and ETF Flows

BTC advanced 0.66% on June 24, following Monday’s 4.42% rally, closing at $106,139. The near-term price outlook hinges on several crucial factors, including US-Iran nuclear deal talks, trade developments, and ETF flows.

Potential scenarios:

• Bearish Scenario: Renewed Middle East tensions, legislation setbacks, US tariff threats, and ETF outflows. A combination of these may send BTC toward the 50-day Exponential Moving Average (EMA), potentially exposing sub-$100,000 levels.
• Bullish Scenario: Progress toward a US-Iran nuclear deal, bipartisan support for the Bitcoin Act, easing trade tensions, and ETF inflows. Under these scenarios, BTC could retest its all-time high of $111,917.

What to Watch

Investors should track developments in the Ripple case, legislative updates, Middle East headlines, trade-related news, and ETF flows. These factors are pivotal for near-term price trends. They could determine whether XRP or BTC revisits record highs.

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