XRP News Today: SEC Silence on Appeal Plans and OIG Findings Weigh on XRP

Ripple Case: SEC Silence Keeps XRP Stuck in Uncertainty

In January, speculation that the SEC might withdraw its appeal, challenging the Programmatic Sales of XRP ruling in the Ripple case, drove XRP to a high of $3.3999. However, since then, XRP has dropped below the $2 level on three separate occasions.

Broader market forces, including President Trump’s tariff policies and Crypto Strategic Reserve Asset developments, have pressured XRP. Yet, the SEC’s silence on its appeal strategy in the Ripple case remains a critical headwind.

Pro-crypto lawyer Bill Morgan commented on the situation:

“As the weeks and months pass, I increasingly wonder whether despite all the rumours of a settlement, the continuing uncertainty about the end or continuation of SEC v Ripple appeal will eventually increasingly exert a negative pressure on XRP price.”

Meanwhile, crypto influencer Amelie shared a video on March 18 featuring Paul Atkins, President Trump’s nomination for SEC Chair. Atkins offered little clarity on the agency’s appeal plans, saying:

“There’s the lawsuit against Ripple. A lot of things riding on that. So that’s like a really interesting thing to follow in this space.”

Has the OIG’s Findings Influenced the SEC’s Appeal Stance?

The SEC has also remained silent on the Office of Inspector General’s (OIG) investigation into potential crypto conflicts of interest within the agency. While former SEC Chair Gensler withheld the OIG’s findings, Acting Chair Mark Uyeda has also withheld on the OIG’s report.

As background, US government whistleblower Empower Oversight reported potential conflicts of interest relating to SEC bias against Ripple and XRP in favor of Ethereum (ETH).

William Hinman, a former Director of the SEC’s Division of Corporation Finance, publicly declared that Bitcoin and Ethereum were not securities in 2018. At the time, he allegedly received millions from his former employer, Simpson Thacher, which promoted Enterprise Ethereum.

The Hinman speech directly links to the SEC vs. Ripple case. Court documents revealed that Hinman continued to meet with Simpson Thacher staff despite SEC Ethics Division warnings. The SEC’s failed attempts to shield the Hinman speech-related documents under attorney-client privilege underscored the significance of Hinman’s speech to the Ripple case.

If the OIG investigation uncovered evidence of crypto conflicts of interest that influenced the SEC’s decision to sue Ripple, the agency may feel compelled to drop its appeal. Empower Oversight and former Fox Business journalist Eleanor Terrett have both filed Freedom of Information Act (FOIA) requests for the OIG’s report.

XRP Price Outlook: Appeal Strategy and XRP-Spot ETFs

On Tuesday, March 18, XRP fell 2.31%, reversing Monday’s 1.96% gain and closing at $2.2862. XRP underperformed the broader market, which dropped 1.18% to a total crypto market cap of $2.67 trillion.

The SEC’s ongoing silence on its appeal strategy and the OIG’s findings continue to limit XRP’s upside potential.

The implications of an appeal withdrawal are far-reaching. While improving the regulatory environment, a withdrawal may boost the chances of an XRP-spot ETF approval before the October deadline.

An XRP-spot ETF market could fuel institutional demand for XRP, similar to flows into the BTC-spot ETF market. Since launching in January 2024, the US BTC-spot ETF market has recorded total net inflows of $35.659 billion, supporting BTC’s rise to a record high of $109,312.

Key factors influencing XRP’s price outlook:

• SEC Appeal Strategy: An appeal withdrawal could drive XRP past $3.55, while prolonged legal uncertainty might push it below $1.50.
• XRP-Spot ETF Prospects: Approval could trigger institutional inflows, supporting a move toward $5. However, legal challenges could delay the process.
• Macro Risks: Rising trade tensions and a hawkish Fed could pressure XRP toward the February low of $1.7938 while easing tensions and a dovish Fed could fuel a recovery to $2.50.

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

Bitcoin in Pre-Fed Holding Pattern

XRP’s pullback coincided with bitcoin (BTC) briefly falling to a low of $81,172 on March 18. Price action reflected investor caution ahead of the Fed’s interest rate decision, FOMC Economic Projections, and Fed Chair Powell’s press conference on Wednesday, March 19

President Trump’s tariff policies have added uncertainty to the Fed’s rate path, impacting BTC demand. Since Trump’s tariffs on Canada, China, and Mexico, BTC has fallen from the $94k level to a March 11 low of $76,642 before stabilizing.

With economists expecting the Fed to maintain interest rates at 4.5%, the focus will shift to the Economic Projections and Fed Chair Powell’s policy stance.

Bitcoin Price Scenarios: Key Levels to Watch

On March 18, BTC fell 1.53%, partially reversing Monday’s 1.70% gain to close at $82,729. Tuesday’s decline left BTC below the $100k level for the 39th consecutive session.

Potential BTC price scenarios:

• Bearish: Escalating trade tensions, a hawkish Fed, opposition to the Bitcoin Act, and ETF outflows could send BTC toward $70,000.
• Bullish: Easing trade tensions, a dovish Fed, growing Bitcoin Act support, and renewed ETF inflows could push BTC toward $109,312.

A major regulatory development to watch is Senator Cynthia Lummis’ March 11 reintroduction of the Bitcoin Act. If approved, the US administration could purchase one million BTC over five years, holding it for a mandatory 20-year period. Such a move could limit BTC’s circulating supply, potentially driving prices to new all-time highs.

Market Outlook: Key Drivers

Several macroeconomic and regulatory developments will influence crypto market trends in the coming weeks:

• SEC Appeal Decision: A withdrawal could spark a broad crypto rally.
• US Tariff Policy: Rising tariffs may force the Fed to maintain a hawkish stance, increasing recession risks.
• Strategic BTC Reserve: Government support for the Bitcoin Act could accelerate institutional adoption.
• BTC-Spot ETF Flows: Institutional demand remains a primary driver of Bitcoin’s price action.

An SEC appeal withdrawal could help mitigate macro risks, setting the stage for an XRP breakout. However, long-term institutional confidence will depend on further regulatory clarity in the US.

Stay updated with our latest insights here.