XRP News Today: Trump Win Sparks BTC Surge Toward $100k – Will SEC Shift Boost XRP?

XRP Eyes Regulatory Clarity as Investors Weigh SEC Appeal Withdrawal

Trump’s recent victory in the US presidential election has intensified demand for crypto assets. However, XRP continues to trail the broader crypto market. The SEC’s ongoing plans to appeal crucial rulings in the Ripple case have capped XRP’s recent gains. While XRP has advanced by 21.42% in November, the total crypto market cap has surged 27%.

Investors are likely waiting for the SEC to withdraw its appeal. In October, the SEC filed its Notice of Appeal and Form C, crucially targeting the Programmatic Sales of XRP ruling. Should the SEC withdraw, this ruling could set a regulatory precedent, offering the US crypto market greater clarity.

Amicus Curiae attorney and CryptoLaw US founder John E. Deaton remarked on a Tyler Winklevoss post on X, formerly Twitter, highlighting the industry’s struggle for regulatory clarity, saying,

“The one thing this industry needed most was regulatory clarity. Instead, Senator Elizabeth Warren & SEC Chair Gary Gensler gave us the opposite. For 5 years I’ve heard entrepreneurs say we just won’t offer it to American investors, forcing everything overseas. That now ends.”

Winklevoss remarked on bitcoin’s (BTC) price trends since Trump’s victory, saying,

“Bitcoin price appreciation is giving us a tiny glimpse into just how toxic and destructive SEC Chair Gary Gensler and Senator Elizabeth Warren’s behavior has been on our industry. But this has been happening to every industry the last 4 years. Get ready for a supersonic American economic boom!”

Is XRP Poised for Regulatory Shift?

Significantly, Senator Elizabeth Warren could lose SEC support for targeting US crypto firms, potentially opening the door for crypto firms to find new opportunities to compete against traditional banks.

Trump vowed to sack SEC Chair Gary Gensler on day one, fueling speculation about a material shift in the SEC’s regulatory approach toward crypto.

XRP Price Action

On Monday, November 11, XRP rallied 5.50%, following a 5.24% gain from the previous session, to close at $0.6210. Significantly, XRP climbed to a session high of $0.6344, its highest level since the day before the SEC’s Notice of Appeal.

BTC Reaches $88,000 Amid Growing Demand in US Spot ETF Market

Shifting the focus toward BTC, the US BTC-spot ETF market extended its net inflow streak to four sessions. Trump’s pledge to make BTC a US strategic reserve and replace SEC Chair Gary Gensler continued driving demand for BTC and BTC-related products.

On Friday, November 8, the US BTC-spot ETF market reported net inflows of $293.4 million. Inflows surged on Monday, November 11, as investors likely reacted to BTC breaching the $80k barrier over the weekend. According to Farside Investors:

• Fidelity Wise Origin Bitcoin Fund (FBTC) saw net inflows of $135.1 million on Monday.
• ARK 21Shares Bitcoin ETF (ARKB) saw net inflows of $108.6 million.
• Bitwise Bitcoin ETF (BITB) had net inflows of $42.7 million.
• Grayscale Bitcoin Mini Trust (BTC) and Grayscale Bitcoin Trust (GBTC) reported net inflows of $28.2 million and $24.2 million, respectively.

Excluding flow data for Shares Bitcoin Trust (IBIT) and Invesco Galaxy Bitcoin ETF (BTCO), the US BTC-spot ETF market saw $348.9 million of net inflows.

Bloomberg Intelligence Senior Analyst Eric Balchunas remarked on the US BTC-spot ETF market flows, stating,

“Assets in the US spot bitcoin ETFs are now up to $84b, which is 2/3 of the way to what gold ETFs have, all the sudden there’s a decent shot they surpass gold bf their first birthday (we predicted it would take 3-4yrs).”

Bitcoin (BTC) Price Action

On Monday, November 11, BTC surged 9.40%, following a 4.61% rally from the previous session, to close at $87,686. Significantly, BTC climbed to an all-time high of $88,398, marking a seven-session winning streak.

US BTC-spot ETF market flow trends and regulatory developments remain crucial ahead of Inauguration Day (January 20).

Stay tuned as we track real-time updates and insights on market shifts that could define the future for XRP and BTC.