XRP and Bitcoin Market Analysis

Published: June 7, 2025

Key Highlights

• XRP experienced a 3.16% increase on June 6, recovering from a previous 4.81% decline, driven by optimism surrounding ETF approvals.
• The SEC's upcoming round table on June 9 may significantly impact the Ripple case and the potential approval of an XRP-spot ETF.
• A breakout above $2.20 for XRP could lead to price targets of $2.65 and possibly $3, contingent on court developments.

SEC Round Table and Ripple Case

The SEC is set to hold a round table on June 9, where discussions may focus on the ongoing Ripple case. Key SEC officials, including Chair Paul Atkins and Commissioner Caroline Crenshaw, will present their views. Crenshaw has previously expressed dissent regarding the SEC's settlement with Ripple, indicating that it undermines the court's role in securities law interpretation.

Recent developments include the US Court of Appeals granting a joint motion to pause the SEC's appeal, allowing both parties to negotiate a settlement. Judge Analisa Torres has denied a motion for an indicative ruling on settlement terms, citing procedural errors. The SEC must file a status report on settlement proceedings by June 16, which could influence Ripple's strategy moving forward.

Importance of Appeal Withdrawal

In June 2023, Judge Torres ruled that programmatic sales of XRP do not meet the criteria of the Howey Test, which could classify XRP as a commodity. If this ruling is upheld, it may pave the way for the approval of XRP-spot ETFs, potentially increasing demand for the token. Conversely, a successful appeal by the SEC could prolong legal battles for Ripple.

Since the denial of the indicative ruling, XRP has seen a 15% decline, contrasting with a broader market loss of 2.4%.

XRP Price Outlook

XRP closed at $2.1622 on June 6, showing resilience against market trends. The token's future price movements are closely tied to developments in the Ripple case and ETF news. A breakout above $2.20 could lead to further gains, while a drop below $2 could expose XRP to lower support levels.

Bitcoin Market Response

Bitcoin (BTC) also reacted positively to a favorable US Jobs Report, which alleviated recession fears. The report indicated a year-on-year wage growth of 3.9% and a rise in nonfarm payrolls, contributing to a BTC price increase from $104,026 to a high of $105,423.

Despite recent outflows from BTC-spot ETFs due to political tensions, the positive jobs data has rekindled interest, leading to significant inflows into various Bitcoin ETFs.

BTC Price Outlook

BTC's near-term trajectory will depend on legislative updates, economic data, and ETF flows. Potential scenarios include:

• Bearish Scenario: Rising trade tensions and hawkish Fed signals could push BTC below $100,000.
• Bullish Scenario: Easing trade tensions and positive economic indicators could drive BTC towards its record high of $111,917.

Conclusion

Investors should closely monitor developments in the Ripple case, US legislative news, and economic indicators, as these factors will significantly influence market sentiment for both XRP and BTC in the coming weeks.