XRP News Today: XRP Gains on $100M Treasury Move, ETF Hype Builds; BTC at $106k

XRP Gets Demand Boost in $100 Million Strategic Partnership

The SEC vs. Ripple case took a back seat on Monday, June 2, as investors turned their attention to institutional activity. Reports of Bitgo and ViviPower entering a strategic partnership to acquire an initial $100 million worth of XRP for treasury purposes boosted demand for the token.

Amicus Curiae attorney John Deaton remarked on the news:

“I also said that what Michael Saylor was doing with Bitcoin – making it a corporate treasury asset – other companies (albeit on a much smaller scale) would likely copycat and implement a similar strategy with certain Alt-Coins, including ETH, XRP, SOL, etc.”

Increased XRP demand from corporate America could tilt the supply-demand balance firmly in the token’s favor.

Despite this development, the Ripple case remains the key driver. A settlement and an end to the SEC’s and Ripple’s appeal and cross-appeal could pave the way to an XRP-spot ETF market. If the SEC approves pending XRP-spot ETF applications, similar flows to the US BTC-spot ETF market could drive XRP to fresh record highs.

Commenting on the ETF prospects, Deaton stated:

“After the Bitcoin Spot ETF was finally granted (more like demanded – after being forced to fight Gensler’s Bad Faith SEC, which was found to have acted “arbitrary and capricious” in denying one), I said that I had zero doubts about Alt-Coin ETFs eventually following – and not just ETH ETFs – but XRP, SOL and others.”

21Shares, Bitwise Invest, Canary Funds, Franklin Templeton, Grayscale, and WisdomTree are among the issuers awaiting an SEC decision on their XRP-spot ETF applications.

XRP Price Outlook: Court Filings and ETF News

XRP advanced 0.85% on Monday, June 2, following Sunday’s 0.20% gain, closing at $2.1976. Notably, the token outperformed the broader market, which rose 0.54%, taking the total crypto market cap to $3.28 trillion.

XRP’s near-term price outlook depends on legal proceedings and spot ETF-related news.

A move through $2.50 could bring the May 12 high of $2.6553 into sight. A sustained break above $2.6553 could enable the bulls to target $3 and the record high of $3.5505. However, a drop below $2.1 could expose XRP to sub-$2 for the first time since April 11.

For a deeper dive, see our full XRP forecast here.

MicroStrategy Acquisition Lifts BTC Price

XRP’s upswing coincided with bitcoin’s (BTC) move back above $105,000. News of MicroStrategy’s (MSTR) latest BTC acquisition supported the third straight day of gains.

MicroStrategy Chair Michael Saylor announced:

“Strategy has acquired 705 BTC for ~$75.1 million at ~$106,495 per bitcoin and has achieved BTC Yield of 16.9% YTD 2025. As of 6/1/2025, we hodl 580,955 BTC acquired for ~$40.68 billion at ~$70,023 per bitcoin.”

Metaplanet also added to its holdings. CEO Simon Gerovich revealed:

“Metaplanet has acquired 1,088 BTC for ~ $117.3 million at ~$107,771 per bitcoin and has achieved a BTC yield of 225.4% YTD 2025. As of 6/2/2025, we hold 8888 BTC acquired for ~$829.7 million at ~$93,354 per bitcoin.”

US BTC-Spot ETF Market Faces Demand Headwinds

Despite the buying spree, ETF flows told a different story. Farside Investors reported that on June 2:

• Grayscale Bitcoin Trust (GBTC) saw net outflows of $16.5 million.
• Fidelity Wise Origin Bitcoin Fund (FBTC) had net outflows of $50.1 million.
• ARK 21Shares Bitcoin ETF (ARKB) reported net outflows of $73.9 million.

Excluding BlackRock’s (BLK) pending iShares Bitcoin Trust (IBIT) flows, the US BTC-spot ETF market saw total outflows of $137.1 million, potentially extending the outflow streak to three sessions.

BTC Price Outlook: Trade Developments and ETF Flows

BTC rose 0.12% on June 2, following Sunday’s 0.95% gain, closing at $105,903.

The near-term outlook hinges on legislative developments, Fed policy cues, trade headlines, and ETF inflows.

Potential scenarios:

• Bearish Scenario: Rising trade tensions, legislation roadblocks, hawkish Fed cues, and ETF outflows could drag BTC below $100,000.
• Bullish Scenario: Easing trade tensions, bipartisan support for crypto bills, dovish Fed signals, and ETF inflows could drive BTC toward the record high of $111,917.

What to Watch

Investors should monitor developments in the Ripple case, US crypto legislation, key economic indicators, and Fed commentary. These factors will likely influence sentiment across XRP and BTC, potentially determining whether the tokens revisit recent highs.

Explore analyst forecasts on where XRP and BTC may head next as legal and political factors unfold.