XRP News Today: XRP Climbs Above $2.30 on Appeal Hopes; BTC Hits $110k on US Jobs Data

Rumor Mill Fuels Speculation About SEC Dropping the Appeal

Will the SEC finally end the Ripple saga today? Rumor mill drives XRP demand as investors braced for a pivotal SEC announcement. The SEC vs. Ripple case and XRP remained in the spotlight on Thursday, July 3. Investors speculated the SEC could vote on whether to drop its appeal during a scheduled SEC closed meeting.

Crypto analyst Xaif remarked on the SEC closed meeting, stating:

“There were rumors the SEC would officially drop the appeal today (July 3, 2025, 2:00 PM ET) and finally end the case. ** 9 hours left… Will be over soon???”

However, former SEC lawyer Marc Fagel downplayed the chances of an SEC vote so soon after Judge Analisa Torres rejected the joint motion for an indicative ruling on settlement terms. He commented:

“SEC likely still needs to vote to dismiss appeal. Then the parties need to submit papers dismissing their respective appeals, after which the district court’s order goes into effect. Could take several weeks or more, but could possibly be expedited. No set timeframe.”

XRP rallied to a July 3 high of $2.3144 on hopes of an SEC announcement. However, the SEC’s silence on the Ripple case led to XRP dropping back below $2.3.

Despite the pullback, investors remain optimistic about an appeal withdrawal. Commenting on Judge Torres’ ruling on settlement terms, Pro-crypto lawyer James ‘MetaLawMan’ Murphy remarked:

“The SEC and Ripple do not need permission from any court to dismiss their appeals. My GUESS is we will see dismissals of both appeals soon because the lawyers for both sides had to have anticipated this outcome—that Judge Torres would not vacate her prior ruling.”

In January 2025, XRP struck a high of $3.3999 on optimism of the SEC withdrawing its appeal against the Programmatic Sales of XRP ruling. January’s move suggests a potential breakout if the SEC drops its appeal.

XRP Price Outlook: SEC Appeal and ETF Developments

XRP climbed 1.1% on Thursday, July 3, following Wednesday’s 2.87% rally, closing at $2.2591. The token outperformed the broader market, which gained 0.72%, taking the total crypto market cap to $3.34 trillion.

The near-term XRP price outlook depends on Ripple case-related developments and 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 pave the way to $3 and the 2025 high of $3.3999.

Conversely, a break below the 50-day EMA could bring the 200-day EMA and potentially the $1.9299 support level into play.

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

Bitcoin Strikes $110 on US Jobs Report and Spot ETF Inflows

While XRP rallied on hopes of an SEC appeal withdrawal, an upbeat US Jobs Report drove demand for bitcoin (BTC) and the broader crypto market.

Nonfarm payrolls increased 147k in June after rising 144k in May. The unemployment rate unexpectedly fell from 4.2% to 4.1% after a fall in the participation rate, while wage growth slowed. Investors responded to the upbeat nonfarm payroll numbers despite the Jobs Report tempering Fed rate cut expectations.

According to the CME FedWatch Tool, the probability of a September Fed rate cut slid from 93.7% on July 2 to 67.2% on July 3.

BTC climbed to a July 3 session high of $110,591 in response to the report, reflecting investor relief about a resilient US labor market.

US BTC-Spot ETF Reports Strong Inflows on Upbeat Economic Backdrop

Signs of a resilient US labor market boosted demand for BTC-spot ETFs, a key driver of price trends. According to Farside Investors, key US BTC-spot ETF market flows for July 3 included:

• Fidelity Wise Origin Bitcoin Fund (FBTC) had net inflows of $237.1 million.
• ARK 21Shares Bitcoin ETF (ARKB) reported net inflows of $114.2 million.
• Bitwise Bitcoin ETF (BITB) saw net inflows of $115.5 million.

With BlackRock’s (BLK) iShares Bitcoin Trust (IBIT) flow data pending, total US BTC-spot ETF inflows reached $377.3 million, following Wednesday’s total net inflows of $407.8 million.

BTC Price Outlook: Trade Headlines and the Fed in Focus

BTC gained 0.74% on July 3, following Wednesday’s 2.93% rally, closing at $109,651.

The near-term price outlook hinges on several key developments, including US economic data, Fed monetary policy guidance, legislative news, trade headlines, and ETF flows.

Potential scenarios:

• Bearish Scenario: Renewed trade tensions, legislation roadblocks, hawkish Fed cues, strong US data, and ETF outflows. A combination of these may drag BTC toward the 50-day Exponential Moving Average (EMA), potentially exposing $100,000.
• Bullish Scenario: Trade deals, bipartisan support for crypto bills, dovish Fed signals, softer US data, and ETF inflows. Under these scenarios, BTC could retarget its all-time high of $111,917.

What to Watch

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

• Ripple case updates.
• Legislative developments.
• US trade negotiations.
• Fed chatter.
• ETF market flows.

See where analysts expect XRP and BTC to head as legal and political risks evolve.