XRP Faces Increased Pressure Following Coinbase Case Revival; Bitcoin Remains Steady

Published: April 19, 2025
By Bob Mason

In a significant development for the cryptocurrency market, XRP experienced a dip of 0.23% on April 18, as news emerged that the U.S. State of Oregon is reviving the Securities and Exchange Commission’s (SEC) case against Coinbase. This resurgence of regulatory scrutiny has raised fresh concerns among investors regarding the future of Ripple, which is currently embroiled in its own legal battle with the SEC. Meanwhile, Bitcoin continues to hover in a relatively stable range, despite ongoing economic uncertainties.

Coinbase Case Revival Raises Concerns

The decision by Oregon Attorney General Dan Rayfield to pursue a case similar to that previously dropped by the SEC has sent ripples through the crypto community. Coinbase’s Chief Legal Officer, Paul Grewal, expressed his frustration, labeling this move as "an embarrassing waste of Oregon taxpayer dollars." He noted that the Oregon Attorney General’s office is essentially continuing where the SEC left off, further complicating the regulatory landscape for cryptocurrency exchanges.

The original charges against Coinbase, which were filed in June 2023, alleged that the exchange operated as an unregistered securities exchange and broker while offering unregistered securities through its staking-as-a-service program. The SEC dismissed the case in February 2024, but this new legal action raises the specter of prolonged regulatory uncertainty, especially for Ripple, whose outcome in New York might influence future cases in Democratic-led states like Oregon.

Pro-crypto lawyer Bill Morgan suggested that the Oregon AG’s actions reflect a broader political sentiment regarding cryptocurrency regulation and its intersection with legacy political battles.

Ripple’s Legal Challenges and Market Response

XRP’s price drop reflects growing anxiety surrounding the SEC’s ongoing lawsuit against Ripple, which may conclude positively for Ripple in New York but potentially reemerge in other jurisdictions, prolonging uncertainty for investors. Following its latest downturn, XRP closed at $2.0604, contributing to a four-session decline that has seen the cryptocurrency struggle to maintain previous highs amidst regulatory concerns.

Investors are closely monitoring developments in Ripple’s legal case, as a potential settlement could catalyze a surge in XRP prices. The broader cryptocurrency market, currently valued at approximately $2.63 trillion, has also been affected by macroeconomic factors, including Federal Reserve signals and geopolitical tensions.

Key Price Drivers for XRP:

• Legal Developments: The final resolution of the SEC vs. Ripple case remains critical.
• ETF Approvals: Progress pertaining to a spot ETF could attract institutional investments.
• Macroeconomic Indicators: Economic policies and conditions could either boost XRP towards its all-time high of $3.5505 or drag it down to $1.70. ## Bitcoin Stability Amid Trade Tensions

In parallel, Bitcoin’s (BTC) price also experienced a slight decline of 0.52%, settling at $84,519. This relatively subdued movement comes against the backdrop of escalating U.S.-China trade tensions that have begun to impact broader risk asset markets, including traditional equities. Despite these pressures, Bitcoin maintained stability above the $83,000 mark for six consecutive sessions, signaling a resilient market in the face of uncertainty.

As optimism surrounding potential negotiations over trade between the U.S. and China remains a focus, investors are trying to gauge the influence of geopolitical developments on cryptocurrency prices.

ETF Market Dynamics

In a positive turn for Bitcoin, the U.S. BTC-spot ETF market saw a reversal in its trend of outflows, recording net inflows of $13.7 million for the week ending April 18. This followed a two-week streak in which the market faced capital outflows. Prominent ETF players included BlackRock’s iShares Bitcoin Trust, which reported significant inflows, reflecting a robust interest from institutional investors in Bitcoin-based products.

Outlook for Bitcoin:

• Bearish Scenario: Escalating tariffs and hawkish Fed comments could push Bitcoin toward $75,000.
• Bullish Scenario: Easing trade tensions and favorable Fed policies could propel Bitcoin to touch $90,000. ## What to Watch

As the cryptocurrency landscape evolves, investors are encouraged to keep a vigilant eye on key developments in Ripple’s legal situation, U.S.-China trade policies, central bank monetary stances, economic indicators, and trends in ETF capital flows. These factors will significantly shape market sentiment and could influence the trajectory of cryptocurrencies in the near future.

For those tracking the dynamic world of cryptocurrencies, analyst insights and projections will play crucial roles in understanding what drives these markets to new highs.

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