Is the SEC appeal coming to an end? Rumors about the Ripple case ignite demand for XRP, Bitcoin breaks 110,000

Rumors are rampant: Will the SEC officially withdraw the XRP case appeal today?

• SEC Closed-Door Meeting Sparks Market Speculation: On July 3, 2025 (Thursday), rumors have been rampant that the U.S. Securities and Exchange Commission (SEC) may vote in a closed-door meeting to withdraw the appeal of a key ruling in the XRP (Ripple) case, becoming the focus of the crypto market.
• Analyst Opinions Diverge: Crypto analyst Xaif claims rumors point to "the SEC possibly formally withdrawing the lawsuit at 2 PM EST on July 3rd." However, former SEC lawyer Marc Fagel believes that it is unlikely the SEC will vote so quickly after Judge Analisa Torres just rejected a request for a declaratory ruling on the settlement terms; the withdrawal process could take weeks or even longer. He emphasized, "The SEC still needs to vote to decide on the withdrawal of the appeal, and then both parties must submit documents to formally withdraw their respective appeals for the district court's ruling to take effect."
• Lawyers Optimistic Outlook: Crypto-supporting attorney James ‘MetaLawMan’ Murphy stated: "The SEC and XRP can withdraw their appeals without court permission. I predict that both appeals will be withdrawn soon because both parties' lawyers should foresee that Judge Torres will not overturn her previous ruling."

XRP Price Reaction: Slight Pullback After Rumors Boost, Investors Still Hold Hope

• Driven by expectations of withdrawal of lawsuit, XRP soared to $2.3144 on July 3.
• The SEC has not released a statement, causing XRP to slightly retreat below $2.3**, ultimately closing at** $2.2591, with a daily increase of 1.1%, outperforming the market (+0.72%).
• Historical Reference Significance: In January 2025, the market's optimism regarding the SEC possibly withdrawing the appeal against the "XRP programmatic sales ruling" drove XRP to an annual high of $3.3999. The market anticipates that if the SEC officially withdraws the lawsuit, XRP may experience a similar breakout trend.

XRP Price Technical Analysis: Focus on Key Resistance Breakthrough Timing

• Short-term trends depend on the progress of the XRP case and news related to the XRP spot ETF.

• Bullish Scenario: If it breaks above the June 30 high of $2.3275, it is expected to target the May high of $2.6553 and further challenge the $3 level and the yearly high $3.3999.

• Bearish Scenario: If it breaks below the 50-day Exponential Moving Average (EMA), it may test the 200-day moving average and key support level $1.9299 (approximately 14.0 yuan).

• XRP Daily Chart currently releases bullish technical signals.

  

Bitcoin Breaks 110,000: Strong Employment Data and ETF Inflows Play a Crucial Role

• Optimistic Employment Report Boosts Confidence: The U.S. non-farm payrolls increased by 147,000 in June (previous value 144,000), and the unemployment rate unexpectedly dropped to 4.1%. Despite a slowdown in wage growth and cooling expectations for Fed rate cuts (the probability of a rate cut in September dropped from 93.7% to 67.2%), the resilience of the labor market still boosted investor sentiment.
• BTC surged in response: As a result, Bitcoin (BTC) reached an intraday high of $110,591 on July 3, ultimately closing at **$109,651, with a daily increase of 0.74%.
• Spot ETFs continue to attract capital: The positive economic outlook stimulates demand for Bitcoin spot ETFs, becoming a key price driver. Key inflow data on July 3rd:
  • Fidelity Smart Origin Bitcoin Fund (FBTC): +$237.1 million
  • ARK 21Shares Bitcoin ETF (ARKB): +$114.2 million
  • Bitwise Bitcoin ETF (BITB): +$115.5 million
  • BlackRock IBIT data to be released, has disclosed a total net inflow of $377.3 million for ETFs, continuing the previous day's inflow momentum of $407.8 million.

Bitcoin Price Outlook: Multiple Factors Intertwined, Focus on Key Catalysts

• Short-term outlook depends on: U.S. economic data, Federal Reserve policy signals, progress on cryptocurrency legislation, international trade negotiations, ETF fund flows.

• Bearish Scenario: If a combination of escalating trade tensions, legislative gridlock, hawkish rhetoric from the Federal Reserve, strong U.S. data, and outflows from ETFs occurs, BTC may drop towards the 50-day moving average and even test the $100,000 psychological level.

• Bullish Scenario: If there are favorable conditions such as a trade agreement reached, bipartisan support for cryptocurrency legislation, dovish signals from the Federal Reserve, weak US data, and continuous inflows into ETFs, BTC is expected to challenge the historical high of $111,917 again.

• BTC Daily Chart currently releases bullish technical signals.

  

Future Focus: Key Drivers That Will Determine Whether XRP/BTC Can Reach New Highs

1. Latest Developments in the XRP Case ( SEC's Appeal Dismissal Decision, Possible Final Settlement )

2. U.S. Crypto Regulatory Legislation Dynamics ( Clear Regulatory Framework )

3. Results of China-US Trade Negotiations ( Global Market Risk Appetite )

4. Federal Reserve Officials' Speech ( Interest Rate Policy Expectations, Rate Cut Timeline )

5. Bitcoin/Ethereum Spot ETF Fund Flow ( Institutional Demand Indicator )

   (Source: FXEmpire)