XRP News Today: Ripple Legal Endgame Meets Fresh SEC ETF Delays; BTC Dips to $112k

XRP-Spot ETFs – More Delays, More Losses

The SEC pushed back the deadlines for several XRP-spot ETFs as the Trump Administration’s pro-crypto drive begins to lose momentum. This week, the agency issued notices, delaying the approval or disapproval of:

• Grayscale XRP Trust.
• Canary XRP Trust.
• CoinShares XRP Trust.
• 21Shares Core XRP Trust.
• Bitwise XRP ETF.

The SEC’s notices dashed any hopes for a wave of spot XRP ETF approvals following the Joint Stipulation of Dismissal filing on August 7. The delay until October suggests any approvals are unlikely once the US Court of Appeals accepts Ripple and the SEC’s appeal withdrawals, ending the almost five-year legal saga.

However, the delay will also give the SEC time to roll out a standardized crypto ETF framework, a potential game-changer for the crypto market. Such a framework could trigger a flurry of crypto-spot ETF activity, taking cryptos closer to Main Street.

Nate Geraci, President of Nova Dius Wealth, recently remarked on the likely impact of a standardized crypto ETF framework:

“I think you’re going to see the floodgates open. We’re going to see a wave of approvals, and you’re going to see a boatload of new crypto ETFs coming to market.”

While this week’s XRP price action reflected investor disappointment over the delays, the US Court of Appeals ruling on the Joint Stipulation of Dismissal is crucial. Here’s why this ruling could make or break XRP’s momentum. The SEC is unlikely to approve XRP-spot ETFs until the Court formally accepts the appeal withdrawals, closing the case.

This week, XRP slid 8.8% to a low of $2.8204 on Wednesday, August 20, before briefly revisiting $2.9578. However, broader market trends, including BTC’s pullback from the crucial $115,000 level ahead of Fed Chair Powell’s Jackson Hole speech, have left XRP at $2.8684.

XRP Price Outlook: US Court of Appeals and Spot ETFs in Focus

Another slide for XRP on Thursday raises the question: how much further could it fall? XRP slid 3.39% on Thursday, August 21, reversing Wednesday’s 3.18% rally to close at $2.8529. The token underperformed the broader market, which fell 1.85% to a total crypto market cap of $3.76 trillion.

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

• US Court of Appeals Ruling.
• XRP-spot ETF headlines.
• XRP Treasury Reserve Asset adoption.
• Ripple’s US-chartered bank license application.
• SWIFT-related updates.
• Legislative developments.

Potential scenarios:

• Bearish Scenario: Legislative setbacks, slowing Treasury Reserve Asset adoption, OCC declines application for US-chartered bank license, lawmakers protecting SWIFT, or SEC disapproves XRP-spot ETFs. These factors could drag XRP below its August 3 low of $2.7254, bringing $2.5 into play.
• Bullish Scenario: XRP-spot ETF approvals, OCC approves US-chartered bank license, pickup in Treasury Reserve Asset adoption, bipartisan support for the CLARITY Act, or SWIFT loses share of global remittance business to Ripple. These factors could send XRP above its record high of $3.6606 (Binance Exchange), opening the door to $5.

Beyond XRP’s key price drivers, broader global macroeconomic developments and Bitcoin will continue to influence price trends.

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

Bitcoin Under Pressure as Fed Policy Jitters Fuel Spot ETF Outflows

While XRP trended lower on ETF news, Bitcoin (BTC) faced increasing selling pressure ahead of Fed Chair Powell’s highly anticipated Jackson Hole speech.

Recent US economic indicators have sent mixed signals, fueling uncertainty about the Fed’s interest rate path. While labor market data has supported rate cuts, inflation-linked data suggests US tariffs are creeping into consumer prices. Rising inflation typically supports a more hawkish policy stance.

However, the FOMC Meeting Minutes showed Committee Members’ concerns about tariffs, inflation, and the labor market. On Friday, August 22, Fed Chair Powell could provide insights into the Fed’s primary focus. Will concerns about the labor market have greater voice than fears of tariffs driving inflation higher, or will inflation be the Fed’s focal point?

Calls to support the labor market would boost Fed rate cut bets, lifting demand for risk assets such as BTC. On the other hand, a primary focus on inflation could mean delays to rate cuts, potentially crashing risk assets.

Why do crypto investors worry about the Fed?

Calls to delay rate cuts could leave borrowing costs elevated, and strengthen the US dollar, impacting BTC’s appeal as a store of value. On the other hand, support for multiple Fed rate cuts could soften the US dollar, reduce borrowing costs, and lift demand for BTC and other cryptos.

US Crypto-Spot ETF Market Flow Trends Paint Gloomy Picture

The US BTC-spot ETF market has also borne the brunt of investor anxiety over Fed Chair Powell’s looming speech. On Wednesday, August 20, outflows totaled $315.9 million. By Thursday, August 21, excluding BlackRock (BLK) iShares Bitcoin Trust (IBIT) flows, total outflows reached $66.9 million. According to Farside Investors, key flows included:

• Fidelity Wise Origin Bitcoin Fund (FBTC) saw net outflows of $31.8 million.
• ARK 21Shares Bitcoin ETF (ARKB) reported net outflows of $43.3 million.

Snapping a five-day outflow streak hinges on IBIT, which saw outflows of $220 million on August 20.

US BTC-spot ETF flow trends remain crucial, given the market’s influence on BTC’s supply-demand balance.

BTC Price Outlook: Fed Chair Powell and Spot ETFs in Focus

BTC fell 1.61% on Thursday, August 21, partially reversing Wednesday’s 1.27% gain to close at $112,464.

Looking ahead, several key events may influence the near-term price trajectory. These include:

• Fed monetary policy stance: Fed Chair Powell’s speech.
• Legislative developments on Capitol Hill.
• BTC-spot ETF flows.

Potential scenarios:

• Bearish Scenario: Legislative roadblocks, a hawkish Fed Chair, and ETF outflows. A combination of these may push BTC to $110,000, exposing the psychological $100,000 support level.
• Bullish Scenario: Bipartisan support for the CLARITY Act, a dovish Fed Chair, and ETF inflows. In this case, BTC could target the record high of $123,731.

Key Market Drivers to Fuel or Derail a Breakout

Traders should closely monitor the following key developments to determine whether XRP and BTC rebound:

• XRP-spot ETF headlines.
• Legislative news: The CLARITY Act.
• Fed Chair Powell: Hawkish or dovish.
• 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.