XRP News Today: Ripple Drops Appeal, Eyes ETF Boom as SEC Case Nears End; Bitcoin at $107k
By Bob Mason | Published June 28, 2025, 00:35 GMT
Key Highlights:
- Ripple has dropped its cross-appeal in the Securities and Exchange Commission (SEC) lawsuit, signaling a likely conclusion to a protracted legal battle over XRP’s status.
- The SEC is expected to withdraw its appeal, which would uphold Judge Analisa Torres’ favorable ruling regarding XRP programmatic sales.
- Prospects for XRP spot Exchange-Traded Fund (ETF) approval are improving significantly, potentially driving XRP prices to new highs.
- Bitcoin (BTC) trades near $107,000 amid market reactions to US inflation data, geopolitical developments, and ongoing ETF inflows.
Ripple Drops Appeal, Bringing SEC Lawsuit Closer to Closure
The long-running legal struggle between Ripple Labs and the SEC appears to be approaching its end. On June 27, Brad Garlinghouse, CEO of Ripple, announced that the company is voluntarily dropping its cross-appeal in the case. The SEC, which has previously indicated its intent to cease its appeal process, is expected to reciprocate. Garlinghouse stated:
“Ripple is dropping our cross-appeal, and the SEC is expected to drop their appeal, as they’ve previously said. We’re closing this chapter once and for all, and focusing on what’s most important – building the Internet of Value. Lock in.”
This development followed Judge Analisa Torres’ rejection on June 26 of a second joint motion for an indicative ruling on settlement terms, which many in the legal community had anticipated would delay Ripple’s decision on the appeal.
Pro-crypto advocates have welcomed Ripple’s announcement. Bill Morgan, a noted pro-cryptocurrency attorney, commented:
“The SEC v Ripple lawsuit is finally, finally, OVER. Common sense prevailed. Programmatic sales are not investment contracts. Ripple has found other ways to sell XRP to institutions. XRP itself is not a security.”
Additionally, John E. Deaton, who represented roughly 80,000 XRP holders as amicus curiae during the case, succinctly remarked:
“And then it ended.”
What Happens Next in the Ripple Case?
Although Ripple’s statement marks a pivotal moment, formal closure necessitates official filings to the US Court of Appeals to dismiss the pending appeals. Should the SEC formally withdraw its challenge, Judge Torres’ 2023 ruling that XRP programmatic sales do not satisfy the "investment contract" criteria under the Howey Test will stand.
This ruling had been a legal milestone, determining that XRP’s programmatic sales did not generate the expectation of profits derived primarily from the efforts of a third party. The withdrawal of the SEC’s appeal would not only solidify this decision but also pave the way for regulatory acceptance of XRP spot ETFs.
XRP Price Reaction and Outlook
Following the appeal news, XRP showed a modest rally of 1.8% on June 27, closing at $2.1432 after partially recovering from a 3.76% dip the previous day. This performance outpaced the broader cryptocurrency market, which increased by 0.31%, raising the market capitalization of the crypto sector to approximately $3.24 trillion.
Technically, XRP is poised at a critical juncture. A sustained breakout above $2.20 and the 50-day Exponential Moving Average (EMA) could lead XRP to revisit recent highs near $2.34, with more ambitious targets at the May peak of $2.66 and potentially the January high just under $3.40. Conversely, failure to hold key support near the 200-day EMA risks a drop below $2 and retesting lower support at $1.93. For investors interested in a deeper technical analysis, a comprehensive XRP forecast is available detailing these levels and further market insights.
Bitcoin’s Price Influenced by Inflation Data and Geopolitical Tensions
Meanwhile, Bitcoin faced more mixed influences. The latest US inflation data, including the Core Personal Consumption Expenditures (PCE) Price Index rising modestly to 2.7% year-on-year for May, tempered optimism about an imminent Federal Reserve interest rate cut during the third quarter. The CME FedWatch Tool reduced the probability of a September rate cut slightly to 92.5%.
While this inflation uptick reflects some pressure potentially linked to tariffs, declines in personal income (-0.4% m/m) and personal spending (-0.1% m/m) suggested a mixed economic backdrop that could eventually support a more dovish Fed stance.
On the geopolitical front, President Trump’s announcement terminating all trade talks with Canada over the imposition of a Digital Services Tax added to market uncertainties. Trump also threatened forthcoming tariffs on Canadian goods within a week. Heightened trade tensions have previously pressured Bitcoin prices, dragging them from a record high near $112,000 down to around $100,000 ahead of Middle East conflict developments.
ETF Flows Provide Support Amid Uncertainty
Despite these challenges, inflows into US Bitcoin spot ETFs remain strong, supporting BTC prices. Significant fund inflows on June 27 included:
- Fidelity Wise Origin Bitcoin Fund (FBTC): $165.5 million net inflows
- ARK 21Shares Bitcoin ETF (ARKB): $150.3 million net inflows
- Bitwise Bitcoin ETF (BITB): $11.6 million net inflows
Pending flow data for BlackRock’s iShares Bitcoin Trust (IBIT) could further increase total inflows for the day, which already total roughly $344.5 million. These inflows mark a potential 14-day consecutive streak of net buying in the US Bitcoin spot ETF market.
Bloomberg Intelligence’s Senior ETF Analyst Eric Balchunas noted the impact:
"Speaking of bitcoin’s volatility, here’s a chart showing the ratio of IBIT’s 60-Day volatility to SPX. It was 5.7x more volatile a year ago, now it’s barely over 1 (meaning about same vol as US stocks)."
Bitcoin Price Outlook: Balancing Risks and Opportunities
Bitcoin closed June 27 near $107,130 after a minor rebound, with its near-term trajectory hinging on multiple factors, including:
- Continued geopolitical stability, particularly Iran-Israel ceasefire holding
- Legislative progress toward crypto-friendly bills
- Evolution of US-China-Canada trade tensions
- Fed policy signals on interest rates
- Ongoing ETF inflows supporting demand
Bearish scenarios such as renewed Middle East conflicts, legislative delays, escalating trade tensions, hawkish Fed signals, or ETF outflows could pressure BTC below the 50-day EMA and into sub-$100,000 territory.
Bullish scenarios involving sustained ceasefires, bipartisan crypto legislation support, eased trade frictions, dovish Fed cues, and persistent ETF inflows could propel BTC toward retesting all-time highs above $111,900. —
Conclusion
Ripple’s move to drop its cross-appeal in the SEC lawsuit marks a significant step toward legal clarity for XRP and could unleash demand catalysts through potential ETF approvals. Concurrently, Bitcoin’s price navigates a complex environment shaped by inflation data, geopolitical developments, and robust institutional ETF interest. Market participants will be watching closely as the federal appeals process progresses and macro factors unfold in the weeks ahead.
For ongoing updates on XRP, Bitcoin, and broader cryptocurrency markets, stay tuned to FXEmpire.