XRP News Today: Spot ETF Buzz and Court Filing Hype Lift XRP Outlook; BTC Hovers

Ripple vs. SEC: XRP ETF Speculation Heats Up Ahead of Key Court Date

Market speculation about a potential SEC approval of a US XRP-spot ETF pushed XRP to a June 2025 high on Sunday, June 8. The reported approval of the Nasdaq Crypto US Settlement Price Index (the NCISU), including ADA, SOL, XLM, and XRP, raised expectations of imminent XRP-spot ETF approvals.

Crypto commentator MartyP remarked on the NCISU approval, speculating that many crypto ETFs could get approved in the coming weeks. Notably, Franklin Templeton’s XRP-spot ETF application for the Franklin XRP Fund has an intermediate deadline of June 17. June 17 is the day after the US Court of Appeal’s deadline for the SEC to submit a status report on its progress toward a settlement in the Ripple case.

As the June 16 Court of Appeal deadline looms, the SEC could potentially file a second request for an indicative ruling on a settlement request this week. Judge Analisa Torres rejected the first request, citing procedural errors and inadequate arguments that a settlement serves institutional investors and the public. Settlement terms include lifting the injunction on XRP sales to institutional investors and reducing the $125 million penalty.

A favorable indicative ruling, if granted on the second attempt, would allow Ripple and the SEC to file to dismiss the cross-appeal and appeal, closing the case.

Will the SEC Grovel Enough? Pro-Crypto Lawyers Talk and Next Steps

Pro-crypto lawyer Fred Rispoli recently remarked on the SEC’s silence since Judge Torres denied the SEC’s request for an indicative ruling, stating:

“The message by Torres was clear that both parties need to beg for forgiveness. Ripple will say whatever to get it done but how much public groveling is the SEC willing to do? And how much groveling will be authorized? We have 12 days to find out.”

Pro-crypto lawyer Bill Morgan recently outlined the settlement process following Judge Torres’ May ruling.

The next step is for the SEC and Ripple to file a procedurally correct joint motion. If an indicative ruling is secured, the parties will appeal to the Court of Appeals for a limited remand. The goal would be to seek relief, agreed upon by both parties, from Judge Torres. Once the limited remand is granted, motions would be filed to dismiss the appeal and cross-appeal, ultimately closing the case.

Notably, if there is no indicative ruling by June 16, Fred Rispoli believes that the 2nd Circuit will likely push the deadline out another 60 days.

SEC Roundtable: Will the Ripple Case Be a Talking Point?

The next SEC roundtable on crypto regulation is set for Monday, June 9. According to the agenda, SEC Chair Paul Atkins and the agency’s Commissioners will deliver opening remarks. Comments on the SEC’s plans regarding the Ripple case and responses to Commissioner Caroline Crenshaw’s recent dissent against the settlement agreement will require consideration.

Commissioner Crenshaw dissented against the SEC and Ripple settlement agreement and joint filing in May, stating:

“This settlement, alongside the programmatic disassembly of the SEC’s crypto enforcement program, does a tremendous disservice to the investing public and undermines the court’s role in interpreting our securities laws. This is not a settlement I can support.”

XRP Price Outlook: Court Filings and ETF News

XRP rallied 4.11% on Sunday, June 8, building on Saturday’s 0.76% gain to close at $2.2682. Notably, the token outperformed the broader market, which rose 0.23%, taking the total crypto market cap to $3.26 trillion.

XRP’s near-term price outlook hinges on Ripple case-related developments and spot ETF-related news.

A breakout above $2.30 could pave the way to retesting $2.5 and the May 12 high of $2.6553. A sustained move through $2.6553 may bring $3 and the record high of $3.5505 into sight. Conversely, a break below the 50-day EMA could expose XRP to the 200-day EMA and the $1.9299 support level.

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

Bitcoin consolidates Above $105k as Legislation and Demand Coincide

While XRP soared on Sunday, bitcoin (BTC) consolidated its US Jobs Report gains, holding well above the $100k psychological support level.

While the SEC’s roundtable will draw significant interest on June 9, a markup of the CLARITY Act on June 10 also needs consideration. More commonly referred to as the crypto market structure bill, the CLARITY Act provides a clear delineation of responsibilities between the SEC and the CFTC, ending the years of regulatory uncertainty plaguing the crypto industry.

If passed, lawmakers may shift their focus to the Bitcoin Act, which could materially dent BTC’s supply side of the supply-demand balance. Senator Cynthia Lummis reintroduced the Bitcoin Act in 2025. The bill proposes the US government acquire one million BTC over five years, with a 20-year mandatory holding period.

US government demand could potentially collide with increasing institutional demand as more companies consider adding BTC to Treasury assets.

Major announcements on corporate BTC accumulation have grabbed the headlines in recent weeks. These include:

• Trump Media Group: Raised $2.3 billion to establish a Bitcoin reserve.
• Metaplanet, Asia’s MicroStrategy: Announced an incredible $5.4 billion equity raise, aiming to acquire 210,000 BTC by the year-end of 2027. Currently, Metaplanet holds 8,888 BTC, with a FY 2025 target of 30,000 BTC.
• K Wave Media (South Korean media firm): Announced a $500 million securities deal to fund a Bitcoin treasury, aiming to become the Metaplanet of Korea.

BTC Price Outlook: Trade Developments, US Data, and ETF Flows

BTC rose 0.20% on June 8, adding to Saturday’s 1.15% gain to close at $105,785.

The near-term outlook hinges on legislative updates, upcoming US inflation data, trade headlines, and ETF flows.

Potential scenarios:

• Bearish Scenario: Escalating trade tensions, legislation setbacks, Rising US inflation, and ETF outflows could send BTC below $100,000.
• Bullish Scenario: Easing in trade tensions, bipartisan support for crypto bills, softer US inflation, and ETF inflows could drive BTC toward the all-time high of $111,917.

What to Watch

Investors should track Ripple case-related headlines, US crypto legislative developments, US inflation data, and spot-ETF flows. These factors will continue driving sentiment across XRP and BTC, potentially dictating whether the tokens revisit recent highs.

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