XRP News Today: Active XRP Wallets Soar as Traders Eye Final SEC Ruling; BTC at $93k

XRP Interest Increases as Ripple Case Nears Conclusion

Optimism is growing around a potential SEC vote to withdraw its appeal and settle Judge Torres’ Final Judgment in the Ripple case following Paul Atkins’ official appointment as SEC Chair. The crypto legal community had previously speculated that the SEC would wait for Atkins to take office before making pivotal decisions regarding Ripple.

The rising optimism has boosted interest in XRP, reflecting market sentiment toward a favorable legal conclusion. Pro-crypto lawyer Bill Morgan highlighted recent activity in the newly launched US XRP futures market, stating:

“Institutional and retail interest in XRP continues to increase.”

Morgan also commented on recent active XRP address trends:

“Surge in active XRP addresses immediately before XRP futures going live.”

Between April 19 and 20, active addresses jumped 67.5%, ahead of Coinbase’s launch of its XRP derivatives products.

XRP Futures are typically a stepping stone toward spot ETFs, influencing XRP’s price trends. Key attributes for XRP Futures include:

• Retail investor access.
• Institutional exposure without custody challenges.
• Positioning XRP as a bona fide asset.

Teucrium CEO Sal Gilbertie highlighted the significance of XRP, stating:

“XRP is the coin with most utility. Bitcoin is a store of value but XRP has a true use case. There is just no doubt about it.”

Earlier this month, Teucrium launched the first US XRP ETF, 2X XRP ETF, which aims to deliver twice the daily price performance of XRP. Its launch fueled speculation that an unlevered XRP-spot ETF approval could soon follow when considering the SEC’s apparent tolerance for leveraged products.

XRP Outlook: Legal Developments and ETF Momentum

XRP rose 0.29% on Wednesday, April 23, consolidating Tuesday’s 6.08% rally. The token briefly touched $2.3007, its highest level since March 28, before closing at $2.2187. XRP tracked the broader crypto market, which edged 0.55% higher, taking the total crypto market cap to $2.89 trillion.

Looking ahead, investors should consider several key price drivers, including:

• A settlement in the Ripple case and SEC appeal withdrawal could send XRP toward its all-time high of $3.5505.
• Growing expectations for an XRP-spot ETF could rebalance supply-demand dynamics.
• Macro drivers such as Fed policy and US-China trade updates may influence direction, with downside risks near $1.70 and upside potential around $3.00.

See our full XRP forecast here.

Bitcoin Eyes $100k as Risk Appetite Improves

XRP’s gains coincided with bitcoin (BTC) extending its gains from Tuesday amid tariff developments, boosting risk sentiment. Gold tumbled 2.75% on April 23 after US Treasury Secretary Scott Bessent signaled a de-escalation in the US-China trade war. President Trump also hinted at lower tariffs. The Nasdaq Composite Index added 2.50% in response.

The US administration’s U-turn on China could be crucial for BTC’s price trajectory. BTC tumbled from a January 20 record high of $109,312 to a March 7 low of $74,394 on US tariffs and the escalation in the US-China trade war. A US-China trade deal could trigger a BTC rebound.

US BTC-Spot ETF Inflows Reflect Bullish Sentiment

The de-escalation in the US-China trade war has also boosted demand for US BTC-spot ETFs. On April 22, US BTC-spot ETF issuers recorded $912.7 million in total net inflows, the highest since $975.6 million of inflows on January 17. Inflows continued on April 23, contributing to Wednesday’s upswing. According to Farside Investors:

• ARK 21Shares Bitcoin ETF (ARKB) had net inflows of $129.5 million.
• Fidelity Wise Origin Bitcoin Fund (FBTC) reported net inflows of $124.4 million.
• Grayscale Bitcoin Mini Trust (BTC) saw net inflows of $29.8 million.
• Excluding pending flow data for BlackRock’s (BLK) iShares Bitcoin Trust (IBIT), the US BTC-spot ETF market recorded $273.8 million in net inflows on April 23.

Eric Balchunas commented on the recent surge in BTC-spot ETF inflows, stating:

“The spot bitcoin ETFs went Pac-Man mode yesterday, +$936m, $1.2b for week. Also notable is 10 of 11 of the originals all took in cash too. Good sign to see flow depth vs say IBIT doing 90% of the lifting. Price up $93.5k. Pretty strong all things considered IMO.”

BTC Price Outlook: Key Catalysts Ahead

On April 23, BTC rose 0.39%, building on Tuesday’s 6.72% breakout and closing at $93,745.

Looking ahead, key factors to watch include:

• Bearish Scenario: Escalating tariffs, Fed hawkishness, weak US data, legislative resistance, and ETF outflows.
• Bullish Scenario: Dovish Fed signals, improving trade ties, upbeat data, pro-crypto legislation, and rising ETF inflows.

What to Watch

Investors should closely monitor progress in the Ripple lawsuit, U.S.-China trade updates, and central bank commentary. Macroeconomic signals and ETF flows will likely influence overall crypto sentiment. While a Ripple settlement may further lift XRP, broader market direction hinges on evolving global policy and investor risk appetite.

Read analysts’ insights on what may drive cryptocurrencies to new highs.