KEY TAKEAWAYS
- XRP saw a 6.08% increase, fueled by optimism regarding a settlement with Ripple and potential SEC approval for ETFs.
- SEC Chair Paul Atkins indicates a shift towards regulatory changes, raising hopes for XRP-spot ETF authorizations.
- Bitcoin surpassed the $90K mark as concerns in US-China trade relations decreased, enhancing interest in cryptocurrencies, including XRP.
SEC EMBRACES A NEW PHASE WITH XRP-RELATED ETF DEVELOPMENTS
On April 22, SEC Chair Paul Atkins emphasized a transformative direction for the agency. Journalist Eleanor Terrett noted Atkins’ commitment:
“Chair Atkins aims to shield investors from fraud, eliminate political influence from securities regulations, and lay a robust foundation for digital assets. He expressed a vision for the U.S. to be the safest and most attractive environment for investment and business in the world. He also acknowledged the role of US Treasury Secretary Scott Bessent in his second swearing-in ceremony today.”
Anticipations are high for Chair Atkins to bring the Ripple dispute to a conclusion and to settle on Judge Analisa Torres’ final ruling. A satisfactory resolution coupled with the withdrawal of the SEC’s appeal is expected to accelerate the green light for US XRP-spot ETFs, possibly propelling XRP to unprecedented levels.
According to Eric Balchunas, a Senior ETF Analyst at Bloomberg Intelligence, there are currently:
“72 crypto-linked ETFs with the SEC pending approval for listing or options to list. This includes a diverse range from XRP and Litecoin to Solana and beyond. It’s shaping up to be an exciting year.”
The surge in XRP-focused filings indicates a bullish outlook for the token’s prices.
XRP PRICE PROJECTIONS: LEGAL CHALLENGES AND ETF DYNAMICS
On April 22, XRP surged 6.08% following a previous day gain of 0.39%, closing at $2.2123. The token mirrored the wider crypto market, which saw an overall increase of 6.58%, raising the total market cap to $2.87 trillion. XRP briefly hit a 25-day peak of $2.2502 before a minor retreat.
Factors to watch that may impact XRP’s future include:
- A definitive Ripple settlement could drive the token towards its historical high of $3.5505.
- Developments in ETF approvals may draw institutional investments, while ongoing delays could hurt market sentiments.
- Key macroeconomic issues—including Federal Reserve policies and geopolitical tensions—remain critical, with potential downside risk approaching $1.70 and upside prospects nearing $3.00.
BITCOIN RISES ABOVE $90,000 AS TRADE RELATIONS IMPROVE
XRP’s growth occurred alongside Bitcoin (BTC) surpassing the $90,000 threshold for the first time since early March. An easing of US-China trade tensions resulted in heightened appetite for riskier assets, benefiting BTC and the broader cryptocurrency market.
Reports indicate that President Trump softened his rigid stance on China, while US Treasury Secretary Scott Bessent described the previous trade conflict with China as unsustainable, suggesting that a resolution might be achievable despite previous deadlocks.
After President Trump’s inauguration in 2025, BTC’s value declined from a peak of $109,312 in January to a low of $74,394 in March due to tariff escalations related to the trade conflict. Renewed optimism for an agreement now supports projections for a price recovery.
BULLISH SENTIMENT REFLECTED IN US BTC-SPOT ETF INFLOWS
April 22th saw significant inflows into US BTC-spot ETFs, illustrating a revitalized market confidence. As reported by Farside Investors:
- ARK 21Shares Bitcoin ETF (ARKB) noted net inflows of $267 million.
- Fidelity Wise Origin Bitcoin Fund (FBTC) experienced net inflows totaling $253.8 million.
- Bitwise Bitcoin ETF (BITB) recorded net inflows of $76.7 million.
- Grayscale Bitcoin Trust (GBTC) and Grayscale Bitcoin Mini Trust (BTC) combined for net inflows of $86.2 million.
- Excluding pending data for BlackRock’s iShares Bitcoin Trust (IBIT), the US BTC-spot ETF market revealed net inflows of $719.2 million following $381.3 million on April 21.
President Trump’s statements alleviated fears around Fed independence, asserting he has “no plans” to dismiss Fed Chair Powell.
Market reactions were positive, with the Nasdaq Composite Index advancing by 2.71%, whereas gold reversed from a record high, closing down 1.26% at $3,381.
BTC PRICE FORECAST: UPCOMING CATALYSTS TO WATCH
On April 22, BTC climbed by 6.72%, complemented by Monday’s 2.65% uptick, concluding at $93,381.
Future price trends will depend on regulatory clarity and macroeconomic conditions:
- Bearish Perspective: Escalating tariffs, a hawkish Fed, poor US economic indicators, and ETF outflows might push BTC towards $80,000.
- Bullish Perspective: A dovish Fed stance, lessening trade tensions, positive US PMI data, progress on cryptocurrency regulation, and new ETF inflows could elevate BTC towards $100,000.
KEY OBSERVATIONS
Investors should keep an eye on developments in the Ripple case, US-China trade negotiations, and commentary from the Federal Reserve. The broader macroeconomic landscape and ETF movements will be vital to crypto market sentiments. Although a Ripple settlement could enhance XRP values, wider trends will likely align with shifts in global policies and risk appetite.
