XRP News Update: Legal Setback Triggers Price Slide, ETF Approval Odds Decline; Bitcoin Holds at $106K
By Bob Mason | Published June 27, 2025
Overview
Ripple’s ongoing legal battle with the U.S. Securities and Exchange Commission (SEC) hit a significant roadblock this week, sending XRP prices lower and dampening hopes for a quick approval of an XRP-spot Exchange Traded Fund (ETF). Meanwhile, Bitcoin (BTC) experienced a minor pullback, ending a three-day winning streak, yet continues to hold above the $106,000 level amid robust institutional interest.
Ripple-SEC Case: Judge Torres Delivers Blow to Settlement Prospects
On June 26, Judge Analisa Torres refused Ripple and the SEC’s joint request for an indicative ruling on potential settlement terms. The motion had sought to lift the ban on XRP sales to institutional investors and reduce Ripple’s penalty to $50 million.
Ripple’s Chief Legal Officer, Stuart Alderoty, responded to the ruling by emphasizing that Ripple now faces a strategic choice: abandon its appeal challenging the findings on XRP’s historic institutional sales, or proceed with it. Alderoty reassured stakeholders that, regardless of the chosen path, XRP’s legal status as not being a security remains intact, and business operations will continue as normal.
What Lies Ahead for Ripple and the SEC?
Ripple must decide by August whether to file a cross-appeal in response to Judge Torres’ rulings. Should Ripple proceed, the SEC may advance its own appeal focused on programmatic XRP sales. This is pivotal because in 2023, Judge Torres ruled that programmatic sales did not fulfill the “third prong” of the Howey Test — a key benchmark for securities classification — meaning those XRP sales are currently exempt from SEC enforcement.
If the SEC overturns this ruling on appeal, XRP could be regulated as a security, which risks delisting from U.S. exchanges. This scenario would negatively impact ETF issuers seeking market access to XRP, making the SEC likely to reject XRP-spot ETF applications.
Polymarket, a prediction market, currently estimates a 78% chance of XRP-spot ETF approval in 2025, down sharply from a pre-ruling peak of 98.2%.
Adding further uncertainty, Ripple CEO Brad Garlinghouse has indicated that the legal battle might escalate to the U.S. Supreme Court should appeals continue. He noted in January 2024 that the current Supreme Court has not been particularly favorable to regulatory bodies.
XRP Price Reaction and Technical Outlook
Following the ruling, XRP’s price slid 3.76% on June 26, closing at $2.1042 after a prior small drop. This underperformed the broader crypto market, which fell 0.65%, bringing the total crypto market capitalization to approximately $3.23 trillion.
From a technical perspective, an upside breakout above $2.20 and the 50-day Exponential Moving Average (EMA) could set XRP on a path toward the June 16 high of $2.34, and possibly the May peak near $2.66. Conversely, a breach of the 200-day EMA could see prices test sub-$2 levels, with support near $1.93. For detailed analysis, traders are advised to consult dedicated XRP price forecasts.
Bitcoin’s Market Performance: Minor Pullback Amidst Strong Institutional Demand
Bitcoin ended its three-day winning streak with a 0.39% decline on June 26, closing at $106,971 — partially erasing the previous day’s 1.18% gain.
The so-called “Torres effect” influenced broader crypto market sentiment, causing retail investors to pull back. Nonetheless, institutional appetite for Bitcoin remains solid. On June 26, major BTC-spot ETFs saw significant inflows:
- Fidelity Wise Origin Bitcoin Fund (FBTC): +$32.9 million
- Bitwise Bitcoin ETF (BITB): +$25.2 million
With inflows from BlackRock’s iShares Bitcoin Trust (IBIT) pending, total US BTC-spot ETF net inflows for the day may reach $63 million, potentially extending the inflow streak to 13 consecutive sessions.
Market intelligence from Santiment highlights smart money accumulation, noting that wallets holding at least 10 BTC (worth just over $1.07 million) have returned to levels last seen in mid-March, indicative of whale and shark confidence amid retail selling pressures.
Broader Crypto and Market Context
Nate Geraci, President of ETF Store, summarized recent developments influencing the crypto landscape:
- Republican lawmakers introduced comprehensive legal frameworks for crypto.
- Federal Reserve Chair Jerome Powell remarked that the crypto industry is maturing.
- Government-sponsored entities Fannie Mae and Freddie Mac are considering crypto assets for mortgage collateral.
These developments, along with geopolitical factors such as the Middle East truce, U.S. trade negotiations, and inflation data, are critical to Bitcoin’s near-term price trajectory.
Bitcoin Price Outlook: Variables to Watch
Future BTC price movements will depend on various potential scenarios:
- Bearish risks include a collapse of the Iran-Israel ceasefire, setbacks in legislation, escalation of U.S. trade tensions, higher inflation, and ETF outflows, possibly pushing BTC below $100,000. – Bullish triggers involve sustained peace in the Middle East, bipartisan approval of crypto legislation, easing trade disputes, and continued ETF inflows, which could help BTC challenge its all-time high near $111,917. —
Final Thoughts
Investors should closely monitor developments in the Ripple-SEC case, legislative progress on crypto regulation, geopolitical events, and ETF flow trends. These factors will be decisive in shaping whether XRP and BTC can regain momentum and approach previous record highs.
For ongoing updates and expert analysis, stay tuned to FXEmpire’s cryptocurrency news section.
About the Author:
Bob Mason has over 28 years of experience in global finance, working with rating agencies and multinational banks across European and Asian markets. He specializes in currencies, commodities, alternative asset classes, and equities.
For more insights and the latest updates on cryptocurrencies, markets, and economic data, visit FXEmpire.