XRP struggles to gain momentum amid legal limbo, while Bitcoin (BTC) holds firm near $104,000 despite broader market caution.
⚖️ XRP Under Pressure as SEC Silence Continues
XRP remains underperforming as investors await a possible refile in the Ripple vs. SEC case ahead of the June 16 court deadline. The lack of updates from either party is fueling speculation. If no motion is refiled soon, the 2nd Circuit may resume the appeal briefing, prolonging XRP’s legal troubles into Q3.
- Judge Torres rejected the original joint settlement request on May 15.
- XRP has dropped over 14% since the court setback.
- Legal experts expect a refile by June 16 to avoid further legal escalation.
📉 XRP Price Outlook
XRP fell 1.96% to $2.2018, reversing gains and trailing the broader crypto market’s 0.64% drop. A break above $2.50 could open the door to May highs and eventually challenge the $3.55 ATH, while a drop below $2.10 risks slipping under $2.
📊 XRP Daily Chart shows bearish near-term momentum.
💡 Bitcoin Holds $104K Amid Profit-Taking, Legal Delays
While XRP battles legal uncertainty, Bitcoin (BTC) slid 0.65% to $104,755 due to investor caution over slow-moving crypto legislation and ongoing trade tensions.
🇺🇸 Legislation in Limbo
- Texas passed a state Bitcoin Reserve Bill, but it awaits the governor’s signature.
- Federally, Senator Cynthia Lummis reintroduced a bill proposing the U.S. acquire 1 million BTC—a move that could significantly impact prices if passed.
🧾 Spot ETF Flows Cushion Downside
- On June 4, BTC-spot ETFs saw $197 million in net outflows.
- The prior day saw $375 million in net inflows—ending a 3-day outflow streak.
- ETF flow trends remain key short-term drivers as investors monitor the U.S. Jobs Report and Fed policy signals.
📈 BTC Outlook – What’s Next?
Bullish Scenario: Dovish Fed comments, strong ETF inflows, or trade de-escalation could send BTC back toward its all-time high near $111,917.
Bearish Scenario: Hawkish Fed stance, stalled legislation, or poor economic data may push BTC back toward the $100,000 support zone.
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