XRP News Today: SEC Chair Atkins Fuels Hope for Appeal Withdrawal Vote; BTC at $115k

SEC Chair Atkins Sounds a New Era for Crypto America

The SEC vs. Ripple case took center stage on Monday, August 4, as a pivotal court deadline loomed. SEC Chair Paul Atkins raised hopes for the SEC withdrawing its appeal against Judge Analisa Torres’ programmatic sales of XRP ruling.

SEC Chair Atkins commented:

“We will make sure the next chapter of financial innovation is written right here in America.”

He also shared highlights from a speech delivered at America First Policy Institute (@a1policy). He stated:

“Today, I should like to discuss what Commissioner Hester Peirce and I are calling Project Crypto, which will be the SEC’s North Star in aiding President Trump in historic efforts to make America the ‘crypto capital of the world’. The SEC will not stand idly by and watch innovation develop overseas while our capital markets remain stagnant. We are at the threshold of a new era in the history of our markets.”

Chair Atkins described Project Crypto as an initiative to overhaul the securities rules and regulations to expedite America’s financial markets’ move on-chain. Referring to the President’s Working Group on Digital Asset Markets, he added:

“The President’s Working Group on Digital Asset Markets released the PWG Report with clear recommendations for the SEC and other federal agencies to build a framework to maintain US dominance in crypto asset markets. This report is the blueprint to make America first in blockchain and crypto technology.”

He marked a new era for the US digital asset space, a seismic shift from the President Biden-Chair Gensler-Senator Warren’s anti-crypto army crusade, concluding:

“We will not watch from the sidelines. We will lead, we will build, and we will ensure that the next chapter of financial innovation is written right here in America.”

Atkins’s Speech Fuels SEC Vote Withdrawal Speculation

SEC Chair Atkins’s speech came at a poignant time for Ripple and its ongoing legal battle with the agency. Investors await a crucial internal vote to withdraw its appeal, potentially ahead of an August 15 Court of Appeals filing deadline.

The SEC must provide the Court of Appeals a status report on the agreed terms of a settlement with Ripple. However, Judge Torres rejected a joint motion for an indicative ruling on settlement terms in June. The ruling potentially created the need for a vote on dropping the appeal without a settlement. Significantly, Chair Atkins’s speech did not suggest the SEC would pursue its appeal, raising hopes for an imminent vote and a swift end to the four-and-a-half-year case.

Pro-crypto lawyer Bill Morgan remarked:

“Can Chair Atkins actually get the SEC commissioners to vote to dismiss the Appeal in the SEC v Ripple case and his SEC attorneys to file papers dismissing the Appeal?”

Legal experts also speculated about whether SEC commissioners needed to vote for a second time on withdrawing the appeal. Morgan said that one ex-SEC attorney was not even sure whether the SEC had to vote again.

However, Former SEC lawyer Marc Fagel commented:

“There was a (very small) chance the original approval vote encompassed dismissal even without the modification of the injunctive order. Given the delay, seems pretty clear that was not the case, so we’re presumably still waiting on another vote.”

The next SEC closed meeting is slated for Thursday, August 7, the penultimate meeting before the August 15 deadline. SEC closed meetings provide Chair Atkins and Commissioners the platform to vote.

XRP Price Outlook: SEC Appeal and Spot ETFs

XRP climbed 4.17% on Monday, August 4, building on Sunday’s 6.61% breakout to close at $3.0732. The token outperformed the broader market, which rose 1.98%, lifting the total crypto market cap to $3.73 trillion.

XRP’s near-term price trajectory hinges on several crucial catalysts, including:

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

A breakout above $3.1 could pave the way to the July 28 high of $3.3302. A sustained move through $3.3302 may bring the record high of $3.6606 into sight. However, a break below the $3 level could enable the bears to target the 50-day EMA, potentially exposing the August 3 low of $2.7254.

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

Bitcoin Continues Recovery as Demand Outstrips Supply

Bitcoin (BTC) joined XRP and the broad-based crypto market in positive territory on August 4. Notably, demand continued to outstrip supply as institutions accumulated BTC holdings.

According to HODL15Capital, 25 companies purchased 33,411 BTC in the week ending August 3, following 22 companies that acquired 52,019 BTC the previous week. Strategy (MSTR) continued to top the BTC holdings table, with 628,791 BTC, up from 607,770 BTC the week prior. The weekly supply from mining is 3,150 BTC.

On August 4, Metaplanet President Simon Gerovich announced the latest BTC haul, stating:

“Metaplanet has acquired 463 BTC for ~$53.7 million at ~$115,895 per bitcoin and has achieved BTC Yield of 459.2% YTD 2025. As of 8/4/2025, we hold 17,595 $BTC acquired for ~$1.78 billion at ~$101,422 per bitcoin.”

Japan’s equivalent to Strategy ranked sixth on the BTC holdings table, with 17,595 BTC.

US BTC-Spot ETF Market Sees Outflows Slow

The shift in BTC’s supply-demand balance eased selling pressure across the US BTC-spot ETF market. According to Farside Investors, key flows for August 4 included:

• Fidelity Wise Origin Bitcoin Fund (FBTC) saw net outflows of $40.1 million.
• Grayscale Bitcoin Trust (GBTC) had net outflows of $9.9 million.
• Meanwhile, Bitwise Bitcoin ETF (BITB) reported net inflows of $18.7 million.

With BlackRock (BLK) iShares Bitcoin Trust (IBIT) flow data pending, total US BTC-spot ETF outflows reached $40.1 million after total net outflows of $812.3 million on August 1.

BTC Price Outlook: US Recession Risks and Spot ETF Flows in Focus

BTC climbed 0.69% on Monday, August 4, following Sunday’s 1.52% gain to close at $115,098.

Several key events will continue to dictate the near-term price trajectory. These include:

• US Services PMI and labor market data.
• Fed commentary.
• Legislative Developments: The CLARITY Act’s progress on Capitol Hill.
• BTC-spot ETF flows.

Potential scenarios:

• Bearish Scenario: Legislation delays, weaker services PMI data, hawkish Fed signals, and ETF outflows. A combination of these may drag BTC below the 50-day Exponential Moving Average (EMA), exposing the $110,000 support level.
• Bullish Scenario: Bipartisan support for the CLARITY Act, upbeat Services PMI data, dovish Fed rhetoric, and ETF inflows. In this case, BTC could target the all-time high of $122,055.

Key Market Drivers to Fuel or Derail a Breakout

Traders should closely monitor these key price catalysts to assess whether XRP and BTC mount extended recoveries:

• Ripple case: Pending SEC appeal vote.
• Legislative headlines: The CLARITY Act.
• US economic data: ISM Services PMI and Jobless Claims.
• 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.