XRP News Today: Ripple Traders Brace for Torres Decision and SEC Shift; BTC at $104k

XRP on the Brink? Judge Torres’ Decision Could Redraw Crypto Landscape

It was a tense June 19 session as the XRP community and broader crypto market awaited a crucial ruling in the SEC vs. Ripple case. Ripple and the SEC filed a renewed joint motion on June 12 seeking an indicative ruling on settlement terms. Significantly, the parties are asking Judge Torres to reverse her ruling prohibiting XRP sales to institutional investors while requesting a reduced penalty.

Judge Torres rejected the first joint motion within seven days of the filing, citing procedural errors and inadequate arguments that a settlement services the public and institutional investors. The court’s silence on the renewed filing may raise hopes for a favorable indicative ruling.

Pro-crypto lawyer Bill Morgan remarked on the timing significance of a ruling, warning:

“It only took 7 days for Judge Torres to reject the last joint motion to modify the judgment to reduce the fine and dissolve the injunction. Less than 7 days to decide the current joint motion may not be the best sign she will grant it.”

XRP dropped from $2.5712 to a June 5 low of $2.0607 in response to Judge Torres rejecting the first filing. The token has since steadied, hovering above the $2.1 level in anticipation of a favorable outcome.

However, one former SEC lawyer, Marc Fagel, warned:

“I can’t predict how the judge will rule. This is unprecedented – possibly the first time the SEC has changed administrations and sought to undo a court victory – and the court could go either way. If she denies the motion, Ripple will have to decide whether to continue its appeal.”

Judge Torres Ruling Key to the SEC Appeal and XRP-Spot ETF Approvals

Judge Torres’ indicative ruling is pivotal in the Ripple case. If Judge Torres grants a favorable indicative ruling, Ripple and the SEC will drop their appeals.

The SEC’s appeal withdrawal could expedite the approval of pending XRP-spot ETF applications, potentially fueling XRP demand. However, if the Judge rejects the ruling for a second time, the SEC’s appeal plans may hinge on whether Ripple pursues its cross-appeal.

As background, the SEC appealed against Judge Torres’ Programmatic Sales of XRP ruling. In 2023, Judge Torres ruled that programmatic sales of XRP did not satisfy the third prong of the Howey Test.

In a worst-case scenario, a successful appeal would place XRP under the purview of the SEC, potentially leading US crypto exchanges to delist the token. ETF issuers may lose access to active markets for XRP, impacting approval prospects.

XRP Price Outlook: Court Rulings and ETF News

XRP dropped 0.20% on Thursday, June 19, partially reversing Wednesday’s 0.48% gain to close at $2.1666. The token tracked the broader market, which fell 0.18% to a total crypto market cap of $3.21 trillion.

The near-term XRP price outlook depends on Judge Torres’ ruling and XRP-spot ETF-related news.

A breakout above $2.2 and the 50-day Exponential Moving Average (EMA) could pave the way to the June 16 high of $2.3376. A sustained move through $2.3376 may open the door to retesting $2.50 and the May 12 high of $2.6553. However, a break below the 200-day EMA could expose the $1.9299 support level.

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

Bitcoin Dips as Middle East Conflict and Tariffs Keep Bulls at Bay

While XRP dipped amid legal uncertainties, bitcoin (BTC) trended lower as investors monitored updates on the Middle East conflict. BTC and the broader crypto market came under increased selling pressure after news broke of the US considering an attack on strategic Iranian sites. US involvement could lead to oil supply disruptions, pushing oil prices higher and fueling inflationary pressures.

On June 18, the FOMC economic projections and Fed Chair Powell’s press conference also tempered demand for BTC. The Fed raised its 2025 inflation projection, with Fed Chair Powell warning tariffs could potentially delay rate cuts. A less dovish Fed stance may raise borrowing costs, impacting risk assets.

Market intelligence platform Santiment commented:

“Crypto, like global stock markets, stand to benefit if and when rate cuts happen again. Currently, Bitcoin is -6.8% below its May 22nd all-time high. And the S&P 500 is -2.6% below its February 19th all-time high. Expect for the Trump administration and the Fed to continue to clash over the future direction of monetary policy.”

Santiment concluded:

“Trump is likely to pressure Powell and the Federal Reserve to lower rates in an effort to stimulate markets and bolster economic sentiment. Powell, however, may continue resisting political influence, arguing for a more cautious approach based on inflation data and long-term economic stability.”

However, BTC has avoided a drop below $100,000 since May 8. US BTC-spot ETF inflows have cushioned the downside. In May, US ETF issuers reported total net inflows of $5,232.1 million, driving BTC to a record high of $111,917. In June, inflows currently stand at $1,616.2 million.

Santiment underscored the significance of US BTC-spot ETF flows, stating consistent inflows have kept BTC in its current $104k-$105k price range.

BTC Price Outlook: The Middle East, Trade Developments, and ETF Flows

BTC slipped 0.24% on June 19, partially reversing Wednesday’s 0.35% gain to close at $104,631. The near-term price outlook depends on developments in the Middle East conflict, tariff-related updates, legislative news, and ETF flows.

Potential scenarios:

• Bearish Scenario: US involvement in the Israel-Iran war, legislation setbacks, fresh tariff threats, and ETF outflows. A combination of these may send BTC below the 50-day Exponential Moving Average (EMA), potentially exposing $100,000.
• Bullish Scenario: A ceasefire in the Israel-Iran conflict, bipartisan support for crypto bills, easing trade friction, and ETF inflows. Under these scenarios, BTC could target its all-time high of $111,917.

What to Watch

Investors should monitor rulings in the Ripple case, legislative news, Middle East conflict-related news, tariff developments, and ETF flows. These factors are crucial for XRP and BTC price outlooks and could dictate whether either token revisits record highs.

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