XRP took a sharp 6.44% hit, closing at $2.5283, underperforming the broader crypto market, which declined by 3.90%. Uncertainty surrounding the SEC’s appeal in the Ripple case remains a major headwind for XRP’s price trajectory. If the SEC withdraws its appeal, XRP could surpass its all-time high of $3.5505, but a continuation of legal battles could push the price below $1.50.

SEC Commissioner Hester Peirce issued a statement criticizing the agency’s approach to crypto regulation, acknowledging the prolonged legal and commercial uncertainty. However, she avoided commenting on ongoing enforcement cases, including Ripple’s, leading to mixed reactions from industry participants. Ripple’s Chief Legal Officer Stuart Alderoty praised Peirce’s stance, calling it a sign of progress, while pro-crypto lawyer Bill Morgan noted her strategic silence on enforcement matters.

Bitcoin also faced challenges, declining 3.54% to $97,979 as US-China trade tensions escalated. China imposed new tariffs on key US imports, triggering market fears of a trade war. With potential repercussions for inflation and Federal Reserve policy, riskier assets like Bitcoin experienced downward pressure.

Despite Bitcoin’s dip, US BTC-spot ETFs recorded $91.7 million in net inflows, signaling continued investor interest. Hopes for a US Strategic Bitcoin Reserve (SBR) remain a focal point, with policymakers exploring its feasibility. Key inflows included ARK 21Shares Bitcoin ETF ($56.1M), Grayscale Bitcoin Trust ($19.5M), and Bitwise Bitcoin ETF ($16.1M).

Looking ahead, Bitcoin’s near-term movement depends on US economic data and geopolitical factors. If trade tensions ease and SBR discussions gain traction, BTC could rally toward its all-time high of $109,312. However, prolonged trade disputes and a hawkish Federal Reserve could drag BTC below $90,000.

As regulatory and macroeconomic events unfold, market participants will closely watch the SEC’s next steps, US-China relations, and institutional involvement in the crypto space.