XRP News Today: Court Filing Stirs Ripple Case Buzz; BTC Steadies Despite ETF Trends

SEC vs. Ripple Case: Emergency Filing Raises Eyebrows

The SEC vs. Ripple case drew renewed interest on Thursday, April 3, as investors weighed the potential impact of US tariffs on monetary policy and risk assets. Eleanor Terrett, journalist and host of CryptoAmerica, flagged an unusual court filing, stating:

“An odd filing just now in the SEC vs. Ripple docket — an emergency request to ‘present decisive evidence in favor of the defendants and in favor of liberty for the American people.’ The letter, from a man named Justin W. Keener, doesn’t make clear what the so-called ‘decisive evidence’ is or how it would benefit Ripple but hints it has something to do with physical investment contracts he’s been collecting.”

Terrett added:

“Looking further into Keener, it looks the SEC recently sued him for being an unregistered penny stock dealer for which a court has ordered him to pay over $10M.”

In the court filing addressed to Judge Analisa Torres, Keener claimed to hold proprietary information that could resolve key questions in the case, asserting it would be of significant value to Ripple, the crypto industry, and even Congress. He cited his expertise in securities law, including the Howey test and investment contracts, while referencing a curated collection of investment agreements.

Despite the intrigue surrounding Keener’s claims, the filing is unlikely to influence the SEC’s appeal strategy and alter the direction of the case.

XRP Futures Filing Overshadowed by SEC Silence on Appeal Strategy

The April 2 court filing came ahead of the SEC’s Closed Meeting scheduled for April 3. Investors hoped for an SEC vote to withdraw the appeal against the Programmatic Sales of XRP ruling. However, the SEC’s continued silence capped XRP’s April 3 gains.

Separately, Coinbase (COIN) Derivatives announced a filing with the CFTC to self-certify XRP futures:

“We’re excited to announce that Coinbase Derivatives has filed with the CFTC to self-certify XRP futures, bringing a regulated, capital efficient way to gain exposure to one of the most liquid digital assets. We anticipate the contract going live on April 21, 2025.”

The XRP futures product could boost institutional investor interest by offering a regulated hedging instrument and improving market depth. This could have a positive impact on XRP’s supply-demand trajectory.

XRP Price Outlook: Legal Developments and ETF Hopes

On Thursday, April 3, XRP gained 1.96%, partially reversing Wednesday’s Trump-triggered 5.42% slide, closing at $2.0626. The token outperformed the broader market, which rose 0.72%, taking the total crypto market cap to $2.63 trillion.

Despite Thursday’s gains, XRP and the broader market remain exposed to geopolitical tensions, US economic data, and the Fed’s policy stance. Several key factors will likely influence XRP’s near-term trajectory:

• SEC vs. Ripple Court Filings: An appeal withdrawal, resolution of Ripple’s cross-appeal, or injunction vacation could send XRP toward its record high of $3.5505.
• XRP-Spot ETF Prospects: With 18 XRP ETF applications pending, a green light could boost institutional demand. Delays, however, may restrain upside potential.
• Macroeconomic risks: April 4 brings key tariff updates, the US jobs report, and Fed Chair Powell’s speech into focus. A worsening trade outlook or rising recession fears could push XRP toward $1.7938. Conversely, easing concerns could trigger a rebound toward $3.00.

Explore our XRP forecast dashboard here.

Bitcoin Steadies Amid Tariff Turbulence

XRP’s gains coincided with bitcoin (BTC) move higher after Wednesday’s sell-off. Global equity markets suffered heavy losses, but crypto showed resilience.

Market intelligence platform Santiment commented on the tariff-triggered sell-off and sentiment toward BTC, stating:

“Following Trump’s tariff announcements yesterday, the S&P 500 is currently down -4.02% in Thursday trading. And while stock markets have reached 7-month lows, crypto (despite what you may be seeing from the FUD on your timelines) has held up rather well. Bitcoin still sits at $81.9K, over +6.1% above the $77.0K local bottom from 3 weeks ago.”

Santiment noted that Bitcoin’s borderless nature makes it less susceptible to direct tariff impacts, although broader economic conditions still exert influence. The platform added:

“Unlike traditional stocks, cryptocurrencies aren’t typically impacted by trade disruptions or international supply chain concerns triggered by political decisions. As a result, crypto markets have proven notably resilient during this recent period of stock market turbulence.”

This week, BTC is up 0.67%, while the S&P 500 has fallen 3.30%.

ETF Outflows Weigh on BTC Price Despite Recovery

Despite Thursday’s recovery, BTC-spot ETF flows remained volatile. According to Farside Investors, April 3 saw notable net outflows:

• Grayscale Bitcoin Trust (GBTC) had net outflows of $60.2 million.
• Bitwise Bitcoin ETF (BITB) recorded net outflows of $44.2 million.
• Fidelity Wise Origin Bitcoin Fund (FBTC) saw net outflows of $23.3 million.
• ARK 21Shares Bitcoin ETF (ARKB) had net outflows of $20.0 million.

Excluding flows from BlackRock’s (BLK) iShares Bitcoin Trust (IBIT), net outflows totaled $165.1 million on April 3, partially offsetting some of April 2’s $218.1 million inflows.

Thursday’s outflows capped BTC’s gains as BTC-spot ETF market flows remain crucial to bitcoin’s supply-demand trajectory.

BTC Price Outlook: Bearish and Bullish Scenarios

On April 3, BTC gained 0.80%, partially reversing Wednesday’s 3.07% slide to close at $83,199.

BTC scenarios include:

• Bearish Scenario: Trade retaliations, strong US Jobs data, a hawkish Fed Chair Powell speech, ETF outflows, or opposition to the Bitcoin Act could drag BTC toward $70,000.
• Bullish Scenario: Weak US labor market data, a dovish Fed policy stance, tariff de-escalation, bipartisan crypto support, and sustained ETF inflows could lift BTC toward $109,312.

Market Outlook: Themes to Watch

Key themes influencing the crypto market direction include:

• SEC vs. Ripple outcome.
• Tariff-related developments.
• Legislative progress on the Bitcoin Act.
• US Jobs Report and Powell’s speech (April 4).
• BTC-spot ETF flow dynamics.

While recent SEC activity has eased some uncertainty, long-term confidence hinges on greater regulatory clarity. See what analysts say cryptos need to hit record highs.