XRP News Today: Token Falls as Strategic Reserve Catalyst Fizzles; BTC Revisits $115k

XRP Stumbles as Key Catalyst Fails to Deliver

XRP took a hit on Wednesday, July 30, as the Presidential Working Group on Digital Assets’ first report dashed hopes of the token becoming a US strategic reserve asset. Any reference to XRP becoming a strategic reserve asset was one of two key price catalysts for this week.

SEC Closed Meeting: Will the SEC Vote to Drop the Appeal?

Given the silence on a potential XRP stockpile, investor focus will return to the Ripple case.

It has been five weeks since Judge Analisa Torres rejected Ripple and the SEC’s joint motion for an indicative ruling on settlement terms.

Despite the ruling, Ripple declared it would withdraw its cross-appeal the following day, raising hopes for a swift end to the case. It’s unlikely that Ripple would drop its cross-appeal if the SEC pursues its appeal against the Programmatic Sales of XRP ruling.

However, the SEC has remained silent on its appeal plans since Judge Torres’ ruling, contributing to XRP’s pullback from its all-time high of $3.6606 (Binance Exchange).

SEC Chair Paul Atkins and the Commissioners must vote on whether to drop its appeal without Judge Torres agreeing to the parties’ settlement terms. The settlement terms included lowering the penalty to $50 million and lifting the injunction prohibiting XRP sales to institutional investors, both of which favor Ripple.

Given the previous vote to drop the appeal under the settlement terms, legal experts view the vote as a foregone conclusion. However, the longer the delay, the longer it could take for the SEC to approve pending XRP-spot ETF applications, which are crucial for XRP’s price outlook. The SEC’s closed meeting on Thursday, July 31, could potentially yield a vote to drop the appeal and resolve the case, ending a four-and-a-half-year saga.

XRP Price Outlook: Crypto Bills, SEC Vote, and ETFs in the Spotlight

XRP fell 1.05% on Wednesday, July 30. The drop reversed Tuesday’s 0.24% gain, with the token closing at $3.0968. The token underperformed the broader market, which dropped 0.31% to a total crypto market cap of $3.81 trillion.

XRP’s near-term price trajectory depends on several key catalysts, including:

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

A breakout above $3.2 could pave the way to the July 28 high of $3.3302. A sustained move through $3.3302 could enable the bulls to target the $3.5 level and bring the record high of $3.6606 into sight. Conversely, a drop below the $3 level may expose the $2.8 level.

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

Bitcoin Slides on Fed Chair Powell’s Caution

Bitcoin (BTC) joined XRP in the red on July 30, as Fed Chair Powell’s press conference impacted demand for risk assets. The Fed kept interest rates unchanged at 4.25% to 4.5%, spotlighting the Fed Chair amid increasing pressure from President Trump to cut rates.

The Fed Chair poured cold water on hopes for a September rate cut. He stated that there was no decision regarding a September rate cut. Tariffs remained the hurdle to a rate cut. He added the Fed must assess the potential impact of tariffs on inflation and the economy before making a move.

Powell’s wait-and-see stance led to a sharp drop in the chances of a September move. According to the CME FedWatch Tool, the probability of a September rate cut fell from 64.6% to 46.5% on July 30. Notably, BTC responded to Powell’s comments, sliding 1.66% to a session low of $115,760.

AMP Head of Investment Strategy and Chief Economist Shane Oliver commented:

“Fed remained at 4.25-4.5%, with Waller & Bowman dissenting for a cut. No real surprises. Remaining in wait and learn mode re tariffs. Now sees moderating growth. Powell noted no decision re Sept but noted downside risks to jobs. A Sept cut is still likely tho with 2 cuts this yr.”

Ahead of the interest rate decision and press conference, US economic data pointed to strong momentum in the second quarter. The economy expanded by 3% after contracting 0.5% in the first quarter. Labor market data suggested resilience, with the ADP reporting a 104k rise in private sector jobs in July, reversing a 23k drop in June. BTC climbed to a post-data high of $118,729 before the Powell-triggered sell-off.

US BTC-Spot ETF Market Flows Cushion the Downside

The US BTC-spot ETF extended its inflow streak to four sessions on July 30, with total net inflows of $80 million. With a final trading day remaining in July, the US BTC-spot ETF market has seen total net inflows of $6,080.3 million, dwarfing June’s $4,578.7 million.

However, Fed Chair Powell’s policy stance capped Wednesday’s inflows. According to Farside Investors, key flows for July 30 included:

• Bitwise Bitcoin ETF (BITB) saw net inflows of $12.7 million.

With BlackRock (BLK) iShares Bitcoin Trust (IBIT) flow data pending, total US BTC-spot ETF inflows reached $12.7 million, potentially extending the four-day inflow streak.

BTC Price Outlook: US Inflation and Spot ETF Flows in Focus

BTC fell 0.12% on Wednesday, July 30, mirroring Tuesday’s 0.12% loss, closing at $117,788.

The near-term price outlook depends on several key drivers. These include:

• The US Personal Income and Outlays Report.
• Fed chatter.
• Legislative Developments: The CLARITY Act’s progress on Capitol Hill.
• BTC-spot ETF flows.

Potential scenarios:

• Bearish Scenario: Legislation setbacks, rising inflation, hawkish Fed rhetoric, and ETF outflows. A combination of these may push BTC toward $115,000, potentially exposing the 50-day Exponential Moving Average (EMA).
• Bullish Scenario: Bipartisan support for the CLARITY Act, cooling inflation, dovish Fed cues, and ETF inflows. In this case, BTC may target the all-time high of $122,055.

What to Watch

Investors should continue to track the key drivers, which will likely determine whether XRP and BTC can hit new record highs. These include:

• Ripple case updates: Pending SEC appeal vote.
• Legislative developments: The CLARITY Act.
• US economic data: Personal Income and Outlays Report.
• 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.