XRP News Today: Ripple Awaits Critical Court Ruling as ETF Buzz Lifts BTC

SEC vs. Ripple Case: Court Ruling Crucial

The high-stakes legal standoff between Ripple and the SEC is nearing a pivotal moment. On Friday, June 13. Investors awaited a court ruling on the SEC and Ripple joint motion for an indicative ruling on settlement terms. The parties refiled the joint motion on June 12, requesting Judge Analisa Torres lift the injunction prohibiting XRP sales to institutional investors and reducing the $125 million penalty.

Judge Torres’ ruling is crucial in the SEC vs. Ripple case. If Judge Torres grants an indicative ruling in favor of the settlement terms, the SEC and Ripple will file appeal withdrawal motions with the US Court of Appeal, concluding the case. However, a second rejection may lead to Ripple proceeding with its cross-appeal and the SEC progressing its appeal against the Programmatic Sales of XRP ruling.

In May, Judge Torres rejected the first joint request for an indicative ruling, citing procedural errors and inadequate arguments that a settlement would favor institutional investors and the public. Since the May ruling, XRP dropped from $2.5712 to a June 5 low of $2.0607 before steadying, underscoring the significance of the pending ruling on XRP’s future price trajectory.

Legal Community Offers Mixed Views on the June 12 Filing

Former SEC lawyer Marc Fagel remarked on the motion, stating:

“They have an appeal pending. The whole point of this motion is the parties trying to avoid going forward with the appeal.”

Pro-crypto lawyer Fred Rispoli criticized the latest joint filing, stating:

“I recommended a long, detailed motion explaining the SEC’s failures in crypto regulation (with Commissioner declarations) and some apologies from Ripple for what it got tagged on. Instead, we got one paragraph on the other SEC dismissals and a paltry mention of the SEC crypto task force.”

Rispoli added:

“I’ll be hopefully optimistic that Judge Torres reads the room and is willing to just get this case off her plate, but my confidence is low. That said, leaving the injunction in place is not a death knell. Ripple can still sell XRP to institutions, just not in the same way it did pre-2018. Conservative institutions will be hesitant to get involved, more forward-thinking ones will not.”

Pro-crypto lawyer Bill Morgan commented:

“Just reading today’s Ripple and SEC joint motion to judge Torres over lunch. It does not become stronger and more impressive the more you read it. I just have a feeling she’s going to grant the motion anyway.”

Morgan previously highlighted the importance of Judge Torres’ ruling, warning:

“Yet for months, influencers have been saying that it is over and the case is closed. This is not so. The fate of the current joint motion is very important.”

XRP Price Outlook: Court Rulings and ETF News

XRP fell 1.93% on Friday, June 13, following Thursday’s 3.53% slide, closing at $2.1488. The token underperformed the broader market, which dropped 0.23% to a total crypto market cap of $2.26 trillion.

Near-term XRP trends hinge on Judge Torres’ ruling, appeal plans, and ETF-related headlines. A break above $2.2 could bring the 50-day EMA into play. A sustained move through the 50-day EMA may enable the bulls to target $2.50 and the May 12 high of $2.6553. Conversely, a break below the 200-day EMA could expose sub-$2 and the $1.9299 support level.

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

Bitcoin Gets Spot ETF Inflow Boost

While XRP extended its losing streak to four sessions, bitcoin (BTC) bounced back from a June 13 low of $102,832, buoyed by spot ETF inflows. According to Farside Investors, ETF issuers saw total net inflows of $301.7 million on June 13. key flows for June 13 included:

• BlackRock’s (BLK) iShares Bitcoin Trust (IBIT) reported net inflows of $239 million, extending its inflow streak to five sessions.
• Fidelity Wise Origin Bitcoin Fund (FBTC) had net inflows of $25.2 million.
• Bitwise Bitcoin ETF (BITB) saw net inflows of $14.9 million.

Notably, the US BTC-spot ETF market extended its net inflow streak to five sessions, providing BTC much-needed price support. The Israel-Iran conflict triggered a sharp sell-off on June 12 and during the early hours of June 13 before recovering.

BTC Price Outlook: Trade Developments, US Data, and ETF Flows

BTC gained 0.26% on June 13, partially reversing Thursday’s 2.63% drop to close at $106,107. The short-term price outlook hinges on geopolitical risks, legislative developments, upcoming US economic data, and ETF flows.

Potential scenarios:

• Bearish Scenario: An escalating Israel-Iran conflict, legislation roadblocks, weak US data, and ETF outflows may drag BTC below the 50-day Exponential Moving Average (EMA) and $100,000.
• Bullish Scenario: Easing geopolitical tensions, positive crypto bill-related news, upbeat US data, and ETF inflows could drive BTC toward the all-time high of $111,917.

What to Watch

Investors should track Judge Torres’ pending ruling in the Ripple case, legislative news, Middle East-related developments, and ETF flow trends. These factors are crucial for XRP and BTC price trends and could determine whether either token revisits record highs.

Explore analyst forecasts on where XRP and BTC may head next as legal and political factors unfold.