XRP News Today: SEC Vote Watch—Ripple Case Resolution Could Spark Rally; BTC at $108k

XRP Snaps Two-Day Losing Streak: Why the Move?

XRP snapped a two-day losing streak on Sunday, July 6 as investors awaited a crucial SEC announcement regarding the Ripple case.

On July 3, the SEC held its first closed meeting since Judge Analisa Torres rejected the SEC and Ripple’s joint motion for an indicative ruling on settlement terms, and Ripple announced it would drop its cross-appeal. There were no post-closed meeting announcements to boost XRP demand. Some analysts speculated that the SEC may have held back an announcement because of the Fourth of July holidays. If there was a vote on July 3, the agency could announce plans to withdraw its appeal today.

July 10 SEC Closed Meeting on the Radar

Meanwhile, the SEC’s silence on its appeal plans would likely shift investor focus to the July 10 closed meeting. This may be a more reasonable time frame for SEC Chair Paul Atkins and the Commissioners to include a vote in the agenda.

The SEC previously voted in favor of lifting the injunction prohibiting XRP sales to institutional investors and reducing the $125 million penalty to $50 million. The agency may have also voted in favor of dropping its appeal under the settlement terms.

However, the SEC seemingly did not vote on withdrawing its appeal without a favorable indicative ruling on the joint motion to settle. This means the SEC must vote on withdrawing the appeal. SEC Commissioner Caroline Crenshaw is expected to be the only ‘no’ vote, since the settlement terms favored Ripple.

It is also unlikely that Ripple would announce plans to drop its cross-appeal without the SEC committing to withdrawing its own appeal. An end to the Ripple case could pave the way for an XRP-spot ETF market and expedite Ripple’s expansion in the US.

A resolution of the Ripple case would:

• Reinforce the Programmatic Sales of XRP ruling,
• Affirm XRP’s status as a non-security.
• Confirm Ripple’s XRP sales to institutional investors no longer breach US securities laws.

XRP Price Outlook: SEC Appeal Headlines and ETF Chatter

XRP rallied 2.4% on Sunday, July 6, reversing Saturday’s 0.11% loss to close at $2.2727. The token outperformed the broader market, which rose 1.19%, taking the total crypto market cap to $3.33 trillion.

The near-term XRP price trajectory hinges on the SEC’s appeal plans and US XRP-spot ETF-related updates.

A breakout above the June 30 high of $2.3275 could enable the bulls to target the May high of $2.6553. A sustained move through $2.6553 may bring $3 and the 2025 high of $3.3999 into play.

Conversely, a break below the 50-day EMA could open the door to retesting the 200-day EMA. Increased selling pressure may expose the $1.9299 support level.

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

Bitcoin Eyes Fresh Highs as Crypto Bills Progress on Capitol Hill

While XRP price trends hinge on the Ripple case, progress toward regulatory clarity boosted bitcoin (BTC) demand. On Wednesday, the Senate Banking Committee will hold a hearing on crypto market structure in the lead-up to key votes expected during the week of July 14, dubbed Crypto Week.

The lack of clear rules and regulations had plagued the US digital asset space and allowed the SEC to regulate through enforcement. Regulatory clarity through legislation would end the threat of future unjust enforcement actions, enabling the crypto market to thrive.

Sentiment toward crypto regulations could further tilt the supply-demand balance in BTC’s favor. Charles Edwards at digital asset hedge fund Capriole Investments shared a chart on BTC Price and Apparent Demand trends, stating:

“Despite 80,000 BTC moving, Bitcoin’s Apparent Demand is still bullish.”

BTC’s Apparent Demand turned bullish on July 4, signaling a potential price breakout, based on historical trends. Legislative developments on Capitol Hill will be among the key drivers for BTC and the broader market. BTC’s Apparent Demand turned bullish despite last week’s reports of BTC moves from Satoshi-era wallets.

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

BTC rose 0.86% on July 6, following Saturday’s 0.19% gain and closing at $109,229.

The near-term price outlook hinges on several key developments, including trade developments, legislation-related news, Fed monetary policy signals, and spot ETF flows.

Potential scenarios:

• Bearish Scenario: Tariff hikes, legislation roadblocks, hawkish Fed cues, and ETF outflows. A combination of these may pull BTC toward the 50-day Exponential Moving Average (EMA), potentially exposing $100,000.
• Bullish Scenario: Easing trade friction, bipartisan support for crypto bills, dovish Fed signals, and ETF inflows. Under these scenarios, BTC could climb to its all-time high of $111,917.

What to Watch

Investors should track several key drivers, which may determine whether XRP and BTC can revisit record highs. These include:

• Ripple case updates: SEC appeal plans.
• Legislative developments: Market Structure Bill.
• US trade news: Trump’s July 9 trade deadline.
• Fed guidance: 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.