XRP News Today: XRP Slides Ahead of Crucial SEC Settlement Vote; BTC at $108k

Ripple vs. SEC: Will Closed Door Meeting Offer Legal Clarity

The Ripple case will be in the spotlight on Thursday, May 29, as the SEC holds its final scheduled closed meeting of 2025, according to the SEC’s Meeting and Events page.

Legal uncertainty surrounding the case continues to weigh on XRP. On May 15, Judge Torres denied the SEC’s motion for an indicative ruling on lifting the ban on XRP sales to institutional investors and reducing the $125 million penalty. XRP slid from $2.5712 to a May 28 low of $2.2269 after the ruling.

The upcoming meeting could be crucial. SEC Commissioners may vote on whether to file a procedurally sound motion for an indicative ruling. Judge Torres also cited a failure to adequately demonstrate how a settlement serves the public and institutional investors. Legal experts interpret her comments as a prompt for the SEC to publicly acknowledge that its stance in the Ripple case was flawed and that XRP was not a security in institutional sales.

The SEC may also state that XRP was not a security in Programmatic Sales. Judge Torres previously ruled that such sales did not meet the third prong of the Howey Test. A favorable ruling could lead both sides to withdraw their appeal and cross-appeal, closing a lengthy legal chapter.

A lack of communication after the closed meeting may dampen investor confidence. However, a new joint filing that convincingly demonstrates that a settlement benefits institutional investors and the public could trigger an XRP rally.

SEC vs. Ripple: The Procedural Steps and Legal Curveballs

Pro-crypto lawyer Bill Morgan recently outlined the settlement process after the May 15 court ruling, stating:

“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.”

Still, there is a risk Judge Torres could reject a second SEC motion. If that occurs, the SEC may seek an extension to the June 15 deadline to file a status report with the US Court of Appeals. The US Court of Appeals previously granted a 60-day pause on the appeal process for potential settlement.

A denial of an extension request could force the SEC to proceed with the appeal. In a less likely outcome, the Court of Appeals might dismiss the SEC’s appeal on procedural grounds.

XRP Price Outlook: Legal Risks in Focus

XRP dropped 1.85% on Wednesday, May 28, reversing Tuesday’s 0.3% gain to close at $2.2746. The token underperformed the broader market, which fell 0.81% to a total crypto market cap of $3.36 trillion.

XRP’s near-term price trend hinges on legal rulings and spot ETF developments.

A move above $2.50 would target $2.6553. A sustained break above $3 would bring the record high of $3.5505 into view.

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

Profit Taking Extends Bitcoin Losses

While legal uncertainties pressured XRP, profit-taking dragged Bitcoin (BTC) lower. BTC failed to reach a new high after President Trump announced a delay to a 50% tariff on EU goods. The threat of a 50% tariff had impacted sentiment, sending BTC to a May 23 low of $106,817.

Santiment, a market intelligence platform, noted that 98.4% of BTC and 98.3% of XRP holdings were in profit. Rising percentages of profitable holdings typically increase the likelihood of profit-taking and short-term pullbacks.

US BTC-Spot ETF Market Flows in Focus

On Tuesday, May 27, the US BTC-spot ETF market recorded $385.4 million in net inflows, marking a nine-session inflow streak. These flows have been instrumental in pushing BTC above $100,000 to a record $111,917. However, flow trends for Wednesday, May 28, suggested softer demand. According to Farside Investors:

• ARK 21Shares Bitcoin ETF (ARKB) reported net outflows of $34.3 million.
• Fidelity Wise Origin Bitcoin Fund (FBTC) saw net outflows of $14 million.

Excluding BlackRock’s (BLK) pending iShares Bitcoin Trust (IBIT), the US BTC-spot ETF market saw total outflows of $48.3 million, potentially ending the nine-day inflow streak.

BTC Price Outlook: The Fed, Legislation, and ETF Trends

BTC declined 1.03% on May 28, following Tuesday’s 0.46% loss, closing at $107,835.

The near-term outlook depends on US economic data, Fed policy cues, legislative-related updates, trade developments, and ETF inflows.

Potential scenarios:

• Bearish Scenario: Rising trade tensions, US recession fears, legislation setbacks, hawkish Fed signals, and ETF outflows could drag BTC below $100,000.
• Bullish Scenario: Easing trade tensions, bipartisan backing for crypto bills, a dovish Fed stance, upbeat US data, and ETF inflows could drive BTC above the record high of $111,917 to target $115,000.

Key legislation includes the Market Structure Bill and the Bitcoin Act. House GOP is reportedly targeting Thursday, May 29, for the introduction of an amended Market Structure Bill. The bill’s progress could decide the fate of the Bitcoin Act. The Bitcoin Act proposes that the US government acquire one million BTC over five years, with a mandatory 20-year holding period.

What to Watch

Investors should closely monitor developments in the SEC vs. Ripple case, crypto-related legislation in Washington, US economic data, and Fed signals. These will likely dictate broader market sentiment and determine whether XRP and BTC can revisit recent highs.

Explore analyst forecasts on where XRP and BTC may head next amid legal and political tailwinds.