XRP News Today Ripple Report Highlights ETF Momentum Builds; BTC at $102k

Ripple Q4 Report Signals Market Shift

On Friday, January 31, Ripple released its Q4 2024 XRP Markets Report. The Report highlighted several significant crypto market-related news, including:

280% price movement – As regulatory uncertainty faded, XRP demand soared.

Market optimism about the SEC potentially withdrawing its appeal against the Programmatic Sales of XRP ruling fueled XRP demand. US President Trump’s nomination of former SEC Commissioner Paul Atkins as the next SEC Chair added to the momentum. Former SEC officials and legal experts believe Atkins will reverse course on the agency’s crypto enforcement stance.

However, XRP dropped back from its December 2024 high of $3.3999 as investors await confirmation on the Ripple case. Some market participants believe acting Chair Mark Uyeda may delay a decision until Paul Atkins takes office.

Policy shift – US shifts toward regulatory clarity & banking access for crypto.

In a significant regulatory shift, the SEC rescinded Staff Accounting Bulletin (SAB) 121, opening the door for banks to offer crypto-related services, including custody. SAB 121 required companies, including banks, to hold crypto assets on their balance sheets even if they held the cryptos under customer custody. The regulation made it expensive for banks to hold crypto under custody for clients, limiting crypto services and BTC demand.

Meanwhile, in January, US President Trump signed executive orders (EO) to foster innovation in the US digital asset space.

Institutional momentum – 5 issuers filed for a spot XRP-ETF.

Institutional interest is also rising. In 2024, Bitwise, Canary Capital, WisdomTree, and 21Shares applied for XRP-spot ETFs. Notably, Grayscale filed a request on January 30 to convert its Grayscale XRP Trust into an XRP-spot ETF in January 2025. The filings underscored optimism about the SEC withdrawing its appeal. XRP-spot ETFs could materially increase XRP demand, potentially driving XRP to record highs.

XRP Price Trends: Appeal Optimism Crucial

On Friday, January 31, XRP fell 2.93%, reversing Thursday’s 1.95% gain to close at $3.0359. XRP underperformed the broader market, which dropped by 1.37% to a total market cap of $3.45 trillion.

The SEC’s silence about its appeal plans in the Ripple case impacted XRP demand. However, optimism about an end to the case cushioned the downside. XRP avoided falling below $3.00 and breached the crucial support level only twice in the last eleven sessions.

The SEC’s decision on its appeal will be a key driver of XRP’s price action:

• Withdrawal of the appeal could drive XRP past its all-time high of $3.5505.
• Pursuing the appeal may drag XRP below $2.50.

Expert Analysis: How will the SEC’s next move shape XRP’s future? Read more here.

Bitcoin Drops as US Tariff Concerns Weigh on Risk Sentiment

While the SEC deliberates its appeal, bitcoin trended lower on January 31. News of the US administration rolling out 10% tariffs on Chinese goods impacted risk sentiment. US tariffs could increase import prices, potentially fueling inflationary pressures. Under this scenario, the Fed could delay rate cuts, pressuring riskier assets.

BTC dropped from a January 31 high of $106,105 to a low of $101,580 on the news.

US BTC-Spot ETF Market Extends Inflow Streak

Despite market jitters, the US BTC-spot ETF market saw net inflows of $588.1 million on January 30, extending its inflow streak to three sessions. The jump in net inflows supported the BTC move to $106k. However, concerns about US tariffs dampened demand on January 31.

According to Farside Investors:

• Bitwise Bitcoin ETF (BITB) saw net outflows of $56.0 million on January 31.
• ARK 21Shares Bitcoin ETF (ARKB) had net inflows of $35.6 million.

Excluding BlackRock’s (BLK) iShares Bitcoin Trust (IBIT) and Invesco Galaxy Bitcoin ETF (BTCO), the US BTC-spot ETF market reported $45.2 million in total net outflows.

Bitcoin Price Outlook

On January 31, BTC declined by 1.86%, reversing Thursday’s 0.86% gain to close at $102,617.

BTC’s price trends hinge on the upcoming US Jobs Report and spot ETF flows.

• Weaker labor market data could boost Fed rate cut expectations and ETF inflows, potentially driving BTC toward new highs above $109,312.
• A tighter labor market, a more hawkish Fed rate path, and US BTC-spot ETF outflows may drag BTC toward $95k.

Additionally, crypto-related news from Capitol Hill may influence sentiment. Progress toward a US Strategic Bitcoin Reserve (SBR) could fuel a BTC rally. A US SBR may significantly shift supply-demand trends in BTC’s favor.

Market Outlook: Regulatory Developments in Focus

Decisions on the SEC’s appeal and a potential US Bitcoin reserve could influence institutional adoption and investor sentiment.

Stay updated with our expert analysis of these developments and their implications for crypto markets. Explore the full analysis here.