XRP and Bitcoin Under Pressure as Legal, Economic, and Trade Uncertainty Intensifies
XRP extended its decline on May 30, falling to $2.1337 as mounting legal uncertainty in the Ripple vs. SEC case cast a shadow over investor sentiment. Meanwhile, Bitcoin (BTC) dropped to $104,726 amid fresh concerns over U.S.-China trade tensions and weak U.S. macroeconomic data.
XRP Faces Renewed Legal Heat
Ripple’s legal battle with the U.S. Securities and Exchange Commission (SEC) remains unresolved, with the lack of any Ripple-related updates during the SEC’s final 2025 closed meeting intensifying market anxiety. Expectations for a revised settlement or relief filing were unmet, driving XRP to its lowest levels since early May.
Pro-crypto attorney Bill Morgan revealed a new court filing by a third party claiming to hold decisive evidence relevant to the 10-year legal dispute. Despite this, the community was disappointed as Judge Analisa Torres previously dismissed the SEC’s request to lift an injunction barring institutional XRP sales and reduce Ripple’s $125 million penalty.
The 60-day pause on appeals expires June 16, after which both Ripple and the SEC could reengage in litigation. A failure to settle may reignite appeals from both sides, particularly concerning the classification of XRP under the Howey Test.
XRP-Spot ETF Hopes Dwindle
A potential appeal from the SEC could undermine efforts to secure approval for an XRP-spot ETF. Judge Torres’ earlier ruling that programmatic XRP sales do not constitute securities under the Howey Test remains a key point of contention. Any continued legal uncertainty could delay ETF approvals and further impact investor confidence.
XRP Price Outlook
XRP closed May 29 at $2.2445, down 1.32%, underperforming the broader crypto market. Technical indicators suggest near-term bearish sentiment, with key resistance near $2.50 and a breakout target at $2.6553. A sustained climb above $3 could open the door to a retest of the all-time high at $3.5505.
Bitcoin Slumps on Trade Concerns and Weak Data
BTC also felt the heat, sliding from $108,924 to $104,726 following a U.S. court decision to reinstate Trump-era tariffs. The ruling reignited trade war fears, while disappointing labor market data and a drop in Q1 corporate profits further pressured risk assets.
Jobless claims rose to 240,000 last week, and Q1 corporate profits fell 3.6%—raising concerns over slowing growth and weakening consumer demand, which accounts for over 60% of U.S. GDP.
BTC-Spot ETFs Record Outflows
The U.S. Bitcoin spot ETF market saw a net outflow of $471.8 million on May 29, breaking a ten-day inflow streak. Key contributors included:
- Fidelity Wise Origin Bitcoin Fund (FBTC): -$166.3M
- Grayscale Bitcoin Trust (GBTC): -$107.5M
- ARK 21Shares & Bitwise ETFs: -$160M combined
BTC Price Forecast
Bitcoin closed May 29 at $105,662, with price trends hinging on the Fed’s next policy signals, upcoming U.S. inflation data, and crypto-focused legislation. A bullish breakout could drive BTC toward the record high of $111,917, while sustained ETF outflows and inflationary pressures could send it below the $100,000 psychological support.
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