XRP News Today: Ripple Case Optimism Lifts XRP as $3 Comes Into View; BTC Eyes $120k

SEC vs. Ripple Case: Uncertainty Turns to Optimism

The SEC held its second closed meeting since Judge Analisa Torres rejected a joint motion for an indicative ruling on settlement terms in the SEC vs. Ripple case. However, the SEC remained silent for a second week. Despite the agency’s silence, XRP soared to $2.5677, its highest level since May 15. Notably, a Thursday breakout concluded a reversal of the losses stemming from Judge Torres’ first indicative ruling on settlement terms.

Optimism over the SEC withdrawing its appeal against the Programmatic Sales of XRP ruling continued to drive demand for the token. The SEC must submit a status report to the US Court of Appeals by August 15, detailing the parties’ progress toward a settlement. However, since Judge Torres rejected the motion for an indicative ruling, investors expect the SEC and Ripple to file motions to dismiss their appeals by mid-August.

Ripple declared it would drop its cross-appeal on June 27, leaving the SEC to vote on withdrawing its appeal. Former SEC lawyer Marc Fagel, reiterated the current status of the Ripple case, stating:

“Note that, at this point, neither party has dropped its appeal. Most likely they file something jointly once the SEC has voted to approve dismissing its appeal.”

Why ETF News Could Be XRP’s Gamechanger

An end to the Ripple case could expedite the approval of US XRP-spot ETFs, potentially driving demand for the token. Significantly, BlackRock (BLK) may also file for an XRP-spot ETF once the parties withdraw their appeals. BlackRock has yet to file for an XRP-spot ETF but met with the SEC Crypto Task Force in May to discuss ETF approval standards.

Since the meetings, the SEC announced plans to issue a framework for crypto ETF listing standards.

The May meetings fueled speculation about an ETF filing. An iShares XRP-spot ETF could be crucial for the token’s supply-demand trajectory. The iShares Bitcoin Trust (IBIT) has reported net inflows of $53.003 billion since launching in January 2024, offsetting Grayscale Bitcoin Trust’s (GBTC) outflows of $23.384 billion, leaving the US BTC-spot ETF market with total net inflows of $50.521 billion.

XRP Price Outlook: Legislation, SEC Appeal Vote, and ETF Headlines

XRP surged 5.84% on Thursday, July 10, following Wednesday’s 4.03% rally, closing at $2.5461. The token outperformed the broader crypto market, which gained 4.43%, lifting the total crypto market cap to $3.57 trillion.

XRP’s near-term trajectory will depend on the SEC’s appeal vote, US crypto legislation, and US XRP-spot ETF-related headlines.

A breakout above the July 10 high of $2.5677 could enable the bulls to target the May high of $2.6553. A sustained move through $2.6553 may pave the way to $3 and potentially the 2025 high of $3.3999.

Conversely, A drop below $2.50 could open the door to $2.40, with $2.30 as the next support level.

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

Bitcoin Hits $116,000 as Perfect Storm Drives Sentiment

While XRP hit an eight-week high, bitcoin (BTC) surged to a new all-time high of $116,401 (Binance Exchange) on July 10. Several factors created a perfect storm, sending BTC to a record high, including:

• The shifting regulatory landscape as key legislation, including the CLARITY Act, will be in the spotlight in the week of July 14, dubbed Crypto Week.
• Rising bets on a Q3 Fed rate cut. The CME FedWatch Tool puts the probability of a September Fed rate cut at 70.3%, up from 68.1% on July 3.
• Easing US-China trade tensions and US recession concerns. According to Polymarket, the chances of a US recession stand at 19%, down from 66% in May.
• Increasing institutional demand through corporate treasuries holding and spot ETFs.

US BTC-Spot ETF Market Targets Six-Day Inflow Streak

The key catalysts behind BTC’s July 10 rally also fueled demand for US BTC-spot ETFs. A five-day inflow streak contributed to this week’s price trends. According to Farside Investors, ETF issuers reported total net inflows of $215.7 million on July 9. On July 10, key flows included:

• Fidelity Wise Origin Bitcoin Fund (FBTC) reported net inflows of $324.3 million.
• ARK 21Shares Bitcoin ETF (ARKB) saw net inflows of $268.7 million.
• Bitwise Bitcoin ETF (BITB) and Grayscale Bitcoin Mini Trust (BTC) had combined net inflows of $159.1 million.

With BlackRock’s (BLK) iShares Bitcoin Trust (IBIT) flow data pending, total US BTC-spot ETF inflows reached $727.1 million. Significantly, the US BTC-spot ETF market has reported net inflows in 21 of the last 22 trading sessions, reaching $6.612 billion.

ETF Store President Nate Geraci remarked on the BTC-spot ETF market, stating:

“I remember when many in tradfi were telling me spot btc ETF investors = ‘exit liquidity’… Since Jan 2024 ETF launch, btc up 150%. Now, tradfi apparently scrambling to get in.”

BTC Price Outlook: Trade Headlines, Legislation, and Spot ETF Flows in Focus

BTC rallied 3.51% on July 10, adding to Wednesday’s 2.13% gain and closing at $115,159.

The near-term price trajectory hinges on several key factors, including trade developments, legislation-related updates, Fed speeches, and spot ETF flow trends.

Potential scenarios:

• Bearish Scenario: Escalating trade tensions, legislation roadblocks, hawkish Fed signals, and ETF outflows. A combination of these may pull BTC the 50-day Exponential Moving Average (EMA).
• Bullish Scenario: Easing trade friction, bipartisan support for crypto bills, dovish Fed cues, and ETF inflows. Under these scenarios, BTC could target $120,000.

What to Watch

Investors should track the key drivers, which may determine if XRP and BTC can retest record highs. These include:

• Ripple case updates: SEC appeal plans.
• Legislative developments: Hearings and lawmaker votes.
• US trade headlines: Retaliation to Trump’s tariff letters.
• 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.