XRP News Today: SEC Retreat Lifts Ripple Sentiment but Tariffs Cloud Outlook; BTC Dips

SEC vs. Ripple: Appeal Pause Boosts Settlement Hopes

The SEC vs. Ripple case took center stage on Thursday, April 10, amid renewed tariff-driven risk aversion. US defense attorney James Filan shared the latest court filing, stating:

“The parties have filed a joint motion to hold the appeal in abeyance based on the parties’ agreement to settle. The settlement is awaiting Commission approval. No brief will be filed on April 16th.”

The parties filed the motion ahead of Ripple’s April 16 deadline to submit its appeal-related reply brief. A formal withdrawal would end the agency’s challenge to the ruling on Programmatic Sales of XRP.

Pro-crypto lawyer Bill Morgan commented:

“Finally. The parties had to do something before the Ripple brief was due on 16 April. At least we now have a public acknowledgment by the SEC of the settlement. Interested to see what indicative ruling will be sought from Judge Torres.”

Paul Atkins’ Confirmation and the Injunction Pivot

The filing coincided with Paul Atkins’ Senate confirmation, a potentially crucial step in the agency’s appeal withdrawal plans. Former SEC lawyer Marc Fagel commented:

“Presumably the SEC wanted Atkins at the helm for the vote; and having him vote his first day on the job would’ve had bad optics (not that his support for this isn’t assured). So this avoids the (minimal) risk that Ripple declines to submit a brief and something goes sideways.”

Fagel further suggested the appeal withdrawal hinges on Judge Analisa Torres revisiting the injunction prohibiting XRP sales to institutional investors:

“I interpret the language as meaning the (tentative) settlement makes dismissal of the appeal contingent on Torres revisiting the injunction order. If she says no, does the appeal and/or cross-appeal go forward? Maybe!”

Ripple previously announced the withdrawal of its cross-appeal in March, in response to the SEC’s commitment to drop its appeal. A successful withdrawal could pave the way for an XRP-spot ETF market. Additionally, the vacation of the injunction would drive Ripple’s US expansion, potentially fueling XRP demand.

XRP Price Outlook: Legal and ETF Catalysts

On Thursday, April 10, XRP fell 4.24%, partially reversing Wednesday’s 14.32% gain to close at $1.9649. Despite the favorable legal news, macro headwinds outweighed bullish sentiment. XRP underperformed the broader crypto market, which dropped 3.54% to a total crypto market cap of $2.5 trillion. US tariffs and recession concerns impacted demand for risk assets, including cryptos.

Looking ahead, several catalysts could influence XRP’s price trends:

• SEC vs. Ripple Court Filings: A formal SEC appeal withdrawal and settlement terms tied to the Final Judgment could drive XRP toward its all-time high of $3.5505.
• XRP-Spot ETF Prospects: Approval of an XRP-spot ETF may trigger institutional inflows, while delays could cap upside momentum.
• Macroeconomic risks: Tariff uncertainty, weak US economic data, or a hawkish Fed could drag XRP to $1.70. Conversely, tariff relief or upbeat data may open a path toward $3.00.

See our full XRP forecast here.

Bitcoin Slides Amid US-China Trade Tensions

XRP’s loss coincided with a bitcoin (BTC) drop below $80,000 as tariff-driven risk aversion impacted risk assets. Concerns about tariffs impacting the US economy triggered a flight to safety.

Trump’s tariff-pause relief faded on Thursday as investors considered the latest hike on levies and potential economic fallout. Fears of an escalation in the US-China trade war intensified after reports of Beijing planning countermeasures to the tariff hike on Chinese goods.

Robin Brooks, Senior Fellow at the Brookings Institute, commented:

“Stocks are retreating from their blistering rally yesterday. That’s the right move. The only trade relationship that matters is that between the US and China and that relationship is deeply stressed. Every other country is just along for the ride. Only China matters for markets.”

The Nasdaq Composite Index tumbled 4.31% on April 10, while gold surged 2.99% to close at $3,175.

BTC-Spot ETF Outflows Extend as Risk Aversion Builds

These geopolitical concerns are exacerbating ETF investor jitters. According to Farside Investors, key flow trends for April 10, included:

• Fidelity Wise Origin Bitcoin Fund (FBTC) saw net outflows of $74.6 million.
• Grayscale Bitcoin Trust (GBTC) had net outflows of $44.6 million.
• ARK 21Shares Bitcoin ETF (ARKB) and Bitwise Bitcoin ETF (BITB) reported a combined $23.5 million in net outflows.

Excluding BlackRock’s (BLK) pending iShares Bitcoin Trust (IBIT) data, total US BTC-spot ETF outflows reached $149.5 million, marking outflows in nine of the past ten sessions.

BTC Price Outlook: Bearish vs. Bullish Scenarios

On April 10, BTC fell 3.63%, partially reversing Wednesday’s 8.27% rally to close at $79,593.

Near-term scenarios include:

• Bearish Scenario: An escalation in the US-China trade war, weak US economic data, a hawkish Fed stance, continued ETF outflows, or opposition to the Bitcoin Act could drag BTC toward $70,000.
• Bullish Scenario: Trade de-escalation, dovish Fed signals, bipartisan support for the Bitcoin Act, and renewed ETF inflows could lift BTC toward $109,312.

Market Outlook: Themes to Watch

Market sentiment in the days ahead will depend on:

• SEC vs. Ripple case-related updates.
• Developments in global trade and tariff responses.
• Progress on the Bitcoin Act.
• US producer prices, consumer sentiment, and Fed guidance.
• ETF flows and institutional investor positioning.

While the SEC’s latest move offers short-term clarity, long-term outlooks will hinge on regulatory developments and macroeconomic stability. Explore what analysts say is needed for cryptos to reach new highs.