Ripple's Dinner with Trump: SEC Appeal and XRP's Volatility Looms as BTC Dips Below $100K

Ripple Executives recently met with Trump as the SEC appeal deadline approaches, raising questions about XRP's future amidst market volatility. Pro-crypto lawyer Bill Morgan commented on the dinner, highlighting its significance as the SEC vs. Ripple case deadline looms. The SEC must file its appeal by January 15 if it intends to challenge the recent ruling that deemed programmatic sales of XRP compliant with the Howey Test.

Ripple’s Legal Challenges and XRP Volatility

The dinner discussions likely touched on Ripple's ongoing legal challenges. Market sentiment remains cautious as the SEC's next moves are uncertain. Incoming SEC Chair Paul Atkins may reverse the agency’s current enforcement stance, impacting XRP's trajectory. If the SEC files its opening brief, XRP could experience increased volatility, potentially dropping below $2.

XRP Price Trends

On January 7, XRP fell by 6.17%, closing at $2.2713, underperforming the broader crypto market, which decreased by 5.80%. The price of XRP may fluctuate significantly based on the SEC's actions; a filing could lead to a drop to $0.50, while a withdrawal could push XRP past its record high of $3.5505.

US BTC-Spot ETF Market Flows

In the BTC market, on January 6, net inflows of $979 million were reported, briefly pushing BTC to a high of $102,669. However, positive US economic data led to substantial outflows the following day, causing BTC to drop below $100k.

Bitcoin Price Outlook

BTC fell by 5.10% on January 7, closing at $97,019. The price trajectory will depend on upcoming US labor market data, strategic reserve developments, and BTC-spot ETF flows. Positive US economic indicators may hinder BTC's growth, while speculation around a March Fed rate cut could propel it to new heights.