Summary:
XRP surges past $3 for the first time since 2018, fueled by optimism around the SEC appeal.
Amicus Curiae attorney John E. Deaton discusses complexities of the SEC's appeal process.
Potential Trump SEC overhaul may provide a safety net for XRP investors.
XRP's price may drop to $2.5 if SEC files its opening brief, or surpass $3.5505 if it does not.
US BTC-spot ETF market sees inflows of $723.2 million, reflecting renewed interest in Bitcoin.
XRP has made headlines by surging past $3 for the first time since 2018, driven by optimism surrounding the SECâs appeal strategy in the ongoing Ripple case. Amicus Curiae attorney John E. Deaton highlighted the complexities of the appeal, suggesting that a win for the SEC at the Second Circuit could push the case back to Judge Analisa Torres. If Ripple loses there, it may petition the US Supreme Court to hear its case, which Deaton believes could lead to a loss for the SEC.
Crypto Policy Shake-Up: A Safety Net for XRP?
Typically, an appeal filing brings uncertainty, potentially affecting XRP demand. However, the political climate, particularly with Trumpâs potential SEC overhaul, may provide a safety net for XRP investors. Experts expect Paul Atkins, a Trump-appointed SEC Chair, to reverse the agencyâs aggressive stance on crypto enforcement, focusing on fraud cases. Deaton emphasized the need for balanced policies that foster innovation while protecting users.
XRPâs climb to $3 reflects optimism regarding a possible SEC appeal withdrawal. The lack of fraudulent allegations in the Ripple case may facilitate this outcome.
XRP Price Trends: Appeal Challenge Crucial
On January 15, XRP surged by 17.82%, closing at $3.1438, significantly outperforming the broader crypto market, which rose by 5.44%. XRP's price trajectory is closely tied to the SECâs forthcoming opening brief. If filed, XRP could drop to $2.5, but if the SEC does not file, XRP could break its 2018 record high of $3.5505. Traders are advised to stay alert as the SEC must file its opening brief by midnight on January 15, EST.
US BTC-Spot ETF Market Gets Much-Needed Inflation Boost
On the same day, the US BTC-spot ETF market saw significant inflows, indicating rising optimism. Notable inflows included $463.1 million into the Fidelity Wise Origin Bitcoin Fund and $138.8 million into the ARK 21Shares Bitcoin ETF. This marks the end of a four-day outflow streak, suggesting renewed interest in BTC as investors anticipate a less dovish Fed rate path.
Bitcoin Price Outlook
On January 15, BTC closed at $100,050, reflecting a 3.61% increase. BTCâs price outlook will depend on US labor market data and ETF flows. A tightening labor market could boost consumer spending, while weak retail sales might support bets on a March Fed rate cut. Developments regarding a Strategic Bitcoin Reserve (SBR) could significantly impact BTC demand. Bipartisan support for an SBR could propel BTC to new highs, whereas a lack of support might drag it below $90K.
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