XRP News Today: SEC Silence on Ripple Case Fuels Bearish Turn for XRP; BTC at $104k

SEC vs. Ripple: Binance Dismissal Hits XRP

The SEC vs. Binance case took center stage on Thursday, May 29, impacting sentiment toward the Ripple case and XRP demand. Binance and the SEC filed a joint motion, seeking to dismiss the case, likely after the SEC’s final closed meeting of 2025 (according to the SEC’s Meeting and Events page). Binance reacted to the dismissal, stating:

“Today is a big day for Binance, crypto, and the U.S. With the dismissal of the Securities and Exchange Commission’s long-standing case against us, one chapter closes, but a more promising one begins. This legal decision is a signal to the world: The U.S. is serious about innovation again. […] Would the SEC walk away from a case like this if there were still fire behind the smoke, with some of the Commission’s concerns remaining unaddressed? Unlikely.”

The announcement failed to boost demand for binance coin (BNB), which ended the session on Friday, May 30, down 2.89%.

However, XRP came under heavier selling pressure as the SEC remained silent on the Ripple case after the closed meeting. The agency’s silence dashed hopes of a second court filing requesting an indicative ruling on settlement terms in the Ripple case. Settlement terms include lifting the injunction prohibiting XRP sales to institutional investors and lowering the $125 million penalty.

Judge Analisa Torres denied the SEC’s first request on May 15, citing a procedural error and failure to demonstrate a settlement serves institutional investors and the public.

XRP-Spot ETF Approval Odds Climb

The May 15 court ruling and the absence of a second indicative ruling request have contributed to XRP tumbling from a May 15 high of $2.5712 to a May 30 low of $2.1307. Failure to secure a favorable indicative ruling could force Ripple to pursue a cross-appeal and compel the SEC to continue with its appeal. The prospects of a US XRP-spot ETF approval could significantly diminish if the SEC continues its appeal.

Despite the legal uncertainty, the chances of an XRP-spot ETF approval by December 2025 rose to 84% on May 30, its highest since March 2025.

The next key court deadline is June 15, when the SEC must submit a settlement progress report to the US Court of Appeals. US Court of Appeals granted a joint motion to pause the appeal for 60 days to allow both parties to settle.

The SEC appealed against the Programmatic Sales of XRP ruling. In 2023, Judge Torres ruled that such sales did not meet the third prong of the Howey Test.

XRP Price Outlook: Legal Risks in Focus

XRP slid 4.62% on Friday, May 30, following Thursday’s 1.32% drop, closing at $2.1409. The token underperformed the broader market, which fell 2.48% to a crypto market cap of $3.21 trillion.

XRP’s near-term price outlook depends heavily 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. However, a drop below $2.1 could expose XRP to sub-$2 for the first time since April 11.

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

US-China Trade Tensions Trigger BTC Sell-Off

While the SEC’s silence pressured XRP, US trade developments weighed on bitcoin (BTC) demand. US President Trump accused China of breaching the 90-day trade war truce, fueling fears of retaliatory measures. In a lengthy rant, claiming China’s economy was in trouble ahead of the truce, Trump stated:

“China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US. So much for being Mr. NICE GUY!”

The US is accusing China of delaying rare earth mineral exports, vital for the manufacturing and tech sectors.

US BTC-Spot ETF Market Extends Outflows

The US BTC-spot ETF market ended a ten-day inflow streak on Thursday, May 29, with total net outflows of $346.8 million. On May 30, BTC-spot ETF issuers faced further outflows as trade developments impacted investor sentiment. According to Farside Investors:

• ARK 21Shares Bitcoin ETF (ARKB) had net outflows of $120.1 million.
• Bitwise Bitcoin ETF (BITB) reported net outflows of $35.3 million.

Excluding BlackRock’s (BLK) pending iShares Bitcoin Trust (IBIT) flows, the US BTC-spot ETF market saw total outflows of $185.3 million. US BTC-spot ETF market flow trends remain crucial for the BTC’s supply-demand balance and price trajectory.

BTC Price Outlook: Trade Developments and ETF Flows

BTC declined 1.51% on May 30, following the previous session’s 2.01% loss, closing at $104,068.

The near-term outlook depends on Fed policy signals, legislative-related updates, trade headlines, and ETF inflows.

Potential scenarios:

• Bearish Scenario: Rising trade tensions, legislation setbacks, hawkish Fed signals, and ETF outflows could drag BTC below $100,000.
• Bullish Scenario: Easing trade friction, bipartisan support for crypto bills, dovish Fed rhetoric, and ETF inflows could drive BTC toward the record high of $111,917.

Key legislation includes the Bitcoin Act, which 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 track developments in the Ripple case, crypto-related legislative updates, US economic data, and Fed signals. These could influence broader market sentiment and dictate whether XRP and BTC can revisit recent highs.

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