XRP News Today: Uyeda’s Stance on Non-Fraud Crypto Cases Fuels Optimism; BTC at $105K

SEC Appeal and Acting Chair Uyeda in Focus

On Wednesday, January 22, speculation about the SEC potentially withdrawing its appeal in the Ripple case will likely intensify. The SEC will hold its first closed meeting since Trump appointed Mark Uyeda as acting Chair on Thursday, January 23. According to the Sunshine Act Notice, agenda items include:

• Institution and settlement of injunctive actions;
• Institution and settlement of administrative proceedings;
• Resolution of litigation claims; and
• Other matters relating to examinations and enforcement proceedings.

The closed meeting gives SEC Commissioners the first opportunity to discuss crypto enforcement cases since the departures of former Chair Gary Gensler and Commissioner Jaime Lizarrage. The agency’s appeal against the Programmatic Sales of XRP ruling may be a key topic.

Reports suggest acting Chair Uyeda may review and halt non-fraud-related crypto cases, fueling investor optimism. The Ripple case focuses on allegations of unregistered securities offerings, not fraud or recklessness.

In November, Acting Chair Uyeda called for an end to crypto enforcement cases without allegations of fraud, stating,

“The Commission’s war on crypto must end, including crypto enforcement actions solely based on a failure to register with no allegation of fraud or harm. President Trump and the American electorate have sent a clear message. Starting in 2025, the SEC’s role is to carry out that mandate.”

Fox Business journalist Eleanor Terrett also reported the upcoming Closed Meeting on Wednesday, January 21, highlighting its significance for the crypto market.

SEC Announces Crypto Task Force

Ahead of the closed meeting, the SEC announced a new task force dedicated to developing a crypto regulatory framework. The announcement outlined the Task Force’s objectives, stating:

“The Task Force’s focus will be to help the Commission draw clear regulatory lines, provide realistic paths to registration, craft sensible disclosure frameworks, and deploy enforcement resources judiciously.”

Clear rules of the road and a reevaluation of non-fraud-related enforcement cases could materially shift sentiment toward digital assets in the US. A regulatory framework and an end to the agency’s regulation through enforcement mantra could pave the way for greater US crypto investment at the retail and institutional levels.

Senator Cynthia Lummis welcomed the news, saying,

“Exciting news! Looking forward to working with SEC Acting Chair Mark Uyeda, Hester Peirce, and the Trump administration to set clear rules for the digital assets industry to ensure the U.S. remains a global leader in financial innovation.”

XRP Price Trends Appeal Speculation and Regulatory Clarity

On Tuesday, January 21, XRP gained 2.33%, following Monday’s 4.95% rally to close at $3.1740. However, XRP underperformed the broader crypto market, which gained 3.29%, bringing the total market cap to $3.57 trillion.

XRP’s near-term trends hinge on the SEC’s appeal strategy. A pause or withdrawal could drive XRP above its all-time high of $3.5505. Conversely, pursuing the appeal could push prices below $2.50.

Explore our expert analysis here on the SEC’s next move and its implications for XRP’s future.

Bitcoin Responds to Shifting US Crypto Regulatory Landscape

Meanwhile, bitcoin (BTC) extended its post-Trump inauguration rally as investors reacted favorably to the latest SEC maneuvers. The increased regulatory activity aligned with President Trump’s pro-crypto agenda, fueling speculation about a US Strategic Bitcoin Reserve (SBR).

Markets also anticipate a wave of crypto-related executive orders, including potentially repealing Joe Biden’s veto of the bipartisan vote to withdraw the SEC’s Staff Accounting Bulletin 121 (SAB 121).

SAB 121 is an SEC requirement for companies, including banks, to hold crypto assets on their balance sheets even if they hold the cryptos under customer custody. This regulation increases the cost for banks to hold crypto for clients. Consequently, it limits the availability of crypto services. A repeal would open the door to US banks offering crypto-related services, boosting BTC demand.

Amicus Curiae attorney John E. Deaton commented on the US crypto market outlook, stating,

“There will be speed bumps along the way (e.g. Trump/Melania Coins), bad actors will resurface, we may even see ICO 2.0, and there will be big disagreements within the industry (e.g. Bitcoin v Crypto), but let’s hope rising from the chaos will be the Golden Age of Innovation.”

Bitcoin Price Outlook

On Tuesday, January 21, BTC rallied 3.56%, following Monday’s 0.96% gain to close at $106,055. Significantly, BTC closed above the crucial $100k level for the fifth consecutive day, underscoring robust demand.

BTC’s price trends hinge on Trump’s executive orders, SBR developments, and US BTC-spot ETF flows.

An executive order withdrawing SAB 121, US BTC-spot ETF inflows, and positive US SBR developments could drive BTC beyond Monday’s record high of $109,312. Conversely, falling bets on an SBR and BTC-spot ETF outflows could drag BTC toward $95k.

Market Outlook

XRP and BTC face pivotal moments amid evolving legal and regulatory landscapes. XRP’s future depends on the SEC’s approach under Uyeda, while Bitcoin’s trajectory depends Trump’s crypto policies. Broader regulatory clarity could drive market sentiment in the coming weeks.

Stay updated with our expert analysis of these developments and their implications for crypto markets. Read more here.