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.
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.
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 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.
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.
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:
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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