Crypto

XRP Rises as Ripple-SEC Case Nears Settlement

April 22, 2025 – DailyForex.pk
XRP gained momentum this week as Paul Atkins assumed leadership of the US Securities and Exchange Commission (SEC), raising hopes that the long-standing Ripple lawsuit may soon be resolved.

The appointment of Atkins, known for his pro-crypto stance, has shifted sentiment across the digital asset market, especially regarding potential XRP ETF developments. His confirmation marks a significant change from the stricter regulatory approach led by former SEC Chair Gary Gensler.

⚖️ Ripple Lawsuit May See Swift Settlement Under Atkins

The SEC is now reportedly reconsidering its appeal regarding the Programmatic Sales ruling in the Ripple case. With crypto-friendly commissioners Mark Uyeda and Hester Peirce already on board, market watchers believe that a settlement could be finalized soon.

A resolution would remove a major legal cloud over XRP and could pave the way for XRP-spot ETFs. Bloomberg’s Eric Balchunas compared ETF approval to streaming music deals:

“Having your coin get ETF-ized is like being in a band and getting added to all the major platforms—exposure goes up dramatically.”

📊 XRP Price Action and What’s Ahead

April 21 Closing Price: $2.0855
Daily Gain: +0.39%
6-Day High: $2.1393
Short-Term Resistance: $2.15
Key Levels to Watch: $1.70 support, $3.00 mid-term target, $3.5505 all-time high

XRP has underperformed the broader market, which climbed 1.81%, pushing the total crypto market cap to $2.7 trillion. However, a Ripple case settlement or XRP ETF approval could serve as a powerful catalyst for a move toward its all-time highs.

₿ Bitcoin Nears $90K as ETF Inflows Accelerate

While XRP edged higher, Bitcoin posted stronger gains, buoyed by massive inflows into US Bitcoin-spot ETFs. On April 21, BTC rose 2.65%, closing at $87,497, extending a steady climb supported by institutional demand.

📥 Notable ETF Inflows (April 21):

ARKB (ARK 21Shares): +$116.1M
FBTC (Fidelity): +$87.6M
BITB (Bitwise): +$45.1M
GBTC & BTC (Grayscale): +$69.1M combined
Total ETF Net Inflows (Ex-IBIT): $339.7M

This marks the largest inflow day since January 30, reflecting strong investor confidence despite broader stock market weakness.

📉 Stocks Slide as Trump Criticizes Fed, BTC Tracks Gold

US equity markets dropped sharply on April 21 after President Trump intensified criticism of Fed Chair Jerome Powell, sparking fears over monetary policy independence.

Nasdaq Composite: -2.55%
S&P 500: -2.36%
Dow Jones: -2.48%
Gold: +2.92% to $3,430 (record high)

Bitcoin’s alignment with gold amid macro uncertainty is fueling speculation that Congress may support the Bitcoin Act, which proposes the US government purchase 1 million BTC over five years.