XRP News Today: Ripple Faces Pressure Ahead of April 3 SEC Meeting; BTC Retakes $85k

Ripple Awaits Crucial SEC Vote as XRP Faces Legal and Market Headwinds

Ripple CEO Brad Garlinghouse on March 19 announced that the SEC would withdraw its appeal against the Programmatic Sales of XRP ruling. Despite this, the SEC has not commented on its appeal plans. Ripple’s Chief Legal Officer Stuart Alderoty also shared proposed settlement terms related to Judge Torres’ Final Judgment, which include:

• Reducing the penalty from $150 million to $50 million. The SEC had initially sought $2 billion.
• Vacating the injunction on XRP sales to institutional investors. The SEC had requested an injunction to restrict Ripple’s on-demand liquidity and remittance operations.

The SEC’s next closed meeting, on April 3, sets up a potential appeal withdrawal vote. XRP has faced intense selling pressure since Brad Garlinghouse’s announcement, tumbling 19% to $2.1088. XRP could fall below $2 if the SEC further delays its vote to withdraw the appeal.

However, legal experts have cautioned that a formal withdrawal may take time. Pro-crypto attorney Fred Rispoli noted that the SEC Commission would likely vote within 30 days. He also stated that Judge Torres could vacate the injunction within 30 days of the motion filing, concluding,

“At most, we are 60 days out from this being 100%, formally, legally, and spectacularly over.”

XRP Price Outlook Hinges on Closed SEC Meeting

On Tuesday, April 1, XRP gained 2.35%, reversing Monday’s 2.24% loss to close at $2.1389. However, XRP trailed the broader market, which rose 2.81%, taking the total crypto market cap to $2.7 trillion.

Tariff developments, US labor market concerns, and recession fears have fueled crypto market volatility. However, a formal end to the Ripple case remains key to XRP’s near-term trajectory.

XRP’s near-term outlook hinges on:

• SEC vs. Ripple Court Filings: Final motions and withdrawal of injunctions could influence market sentiment.
• XRP-Spot ETF Prospects: Progress toward a US XRP-spot ETF market, with 18 XRP ETF applications pending. Hints of a greenlight could lift XRP toward $3.5505. Delays may cap gains.
• Broader macro risks: Heightened trade tensions or US recession fears could drive XRP down to $1.7938. Reduced risk aversion may support a rebound toward $3.

Read expert analysis on what could drive XRP to new highs here.

Bitcoin Rallies as Liberation Day Tariffs Loom

XRP’s gains came alongside a bitcoin (BTC) rally, driven by a rebound in global equities ahead of President Trump’s tariff announcements on April 2, dubbed Liberation Day. Notably, the Nasdaq Composite Index gained 0.87%, while the DAX Index rallied 1.70%, a significant gain considering the potential impact of auto tariffs on German carmakers. The risk-on session left gold down 0.31%, snapping a three-day winning streak.

President Trump is expected to announce tariffs on April 2 at 1600 Eastern Time and will officially become effective on April 3. The White House reportedly downplayed market concerns, stating that Trump takes ‘swings in the market seriously.’

The Kobeissi letter remarked:

“Just 3 weeks ago, President Trump said he was not watching the stock market. Tomorrow is a big day.”

If market performance weighs on the President’s decisions, he could delay or scale back tariffs, potentially boosting risk asset demand, including BTC. Since Trump’s initial tariff threats, BTC has fallen 20% from a January 31 high of $105,993 (see main chart).

Institutional Investors Dislike Uncertainty

Despite BTC’s rally, institutional investors remained cautious as Trump’s tariff announcements loomed. The US BTC-spot ETF market looked set to record a three-day outflow streak on April 1. According to Farside Investors:

• Fidelity Wise Origin Bitcoin Fund (FBTC) had net outflows of $85.4 million.
• ARK 21Shares Bitcoin ETF (ARKB) saw net outflows of $87.4 million.
• Grayscale Bitcoin Trust (GBTC) reported net outflows of $10.01 million.
• However, Bitwise Bitcoin ETF (BITB) saw net inflows of $24.5 million.

Excluding flows from BlackRock’s (BLK) iShares Bitcoin Trust (IBIT), net outflows reached $157.8 million on April 1, following $60.6 million in outflows on March 31.

Bitcoin Price Outlook: Key Scenarios

April 1, BTC rallied 3.20%, following a 0.13% gain on Monday, closing at $85,150, its highest in five sessions. However, risks remain.

Potential scenarios:

• Bearish Scenario: An escalation in the trade war, resistance to the Bitcoin Act, or prolonged ETF outflows could drag BTC toward $70,000.
• Bullish Scenario: De-escalation, bipartisan support for crypto legislation, and strong ETF inflows could push BTC toward $109,312.

Market Outlook: Themes to Watch

Key themes influencing the crypto market direction include:

• The outcome of the SEC vs. Ripple case.
• US tariff developments and retaliatory signals.
• Progress on the Bitcoin Act.
• US labor market data.
• BTC-spot ETF flow trends.

While recent SEC signals may reduce short-term uncertainty, consistent and transparent regulation remains vital for long-term investor confidence. See what analysts say XRP needs to hit record highs.