XRP News Today: Pro-Crypto Congress Sparks Optimism for Ripple; Bitcoin Nears $100K
Key Highlights:
- Ripple CEO praises the “most pro-crypto Congress,” raising hopes for clearer blockchain regulations.
- SEC’s Ripple appeal decision on January 15 could push XRP to $3 or below $2, depending on the outcome.
- Bitcoin (BTC) climbs to $98,000 as US BTC-spot ETF inflows hit $655 million, driving bullish market sentiment.
Ripple CEO Welcomes Pro-Crypto Shift in Congress
Ripple CEO Brad Garlinghouse has spotlighted a growing wave of pro-crypto momentum on Capitol Hill. On January 3, he described the 119th Congress as “the most pro-crypto Congress in history.” Garlinghouse emphasized the enthusiasm and energy building within the blockchain sector, signaling optimism for regulatory clarity.
Republicans, who hold a 219-215 majority in the House and a 53-47 lead in the Senate, are pushing for a crypto-friendly agenda. Former President Donald Trump’s stance supports regulatory frameworks that promote innovation while safeguarding investors.
Notably, bipartisan backing for crypto is evident from last year’s SAB 121 vote. Despite President Biden’s veto, which blocked the SEC’s mandate for companies to hold crypto assets on balance sheets, the vote reflected strong support for making the US a global blockchain leader.
Ripple Case: SEC Appeal and Leadership Shifts
The SEC v Ripple lawsuit remains a focal point as the January 15 deadline approaches. The SEC is expected to submit its appeal-related opening brief, a move that could impact XRP’s trajectory significantly.
Incoming leadership changes at the SEC may influence the case’s direction. With Chair Gary Gensler stepping down on January 20 and Commissioner Jaime Lizarraga departing on January 17, legal experts speculate the new administration may withdraw the appeal altogether.
Former SEC lawyer Marc Fagel commented that an appeal might continue initially but could be dismissed under the new leadership, stating:
“While unprecedented, a new administration could potentially drop the appeal, favoring a more pro-crypto regulatory stance.”
If the SEC withdraws the appeal, it could ignite a bullish rally for XRP. Conversely, if the appeal proceeds, Ripple may face extended legal uncertainties.
XRP Price Analysis and Outlook
XRP closed at $2.4535 on January 3, marking a 2.21% gain and extending its four-day winning streak. Broader crypto market gains of 2.62% pushed the total market cap to $3.41 trillion.
Price Projections:
- Positive SEC news could drive XRP to $3, potentially surpassing its 2018 all-time high of $3.5505.
- A continued SEC appeal may suppress gains, possibly pulling XRP below $2.
Investors await regulatory clarity as XRP’s price remains sensitive to legal and policy developments.
Bitcoin Approaches $100K Amid ETF Inflows
Bitcoin surged to $98,836 on January 3, fueled by positive US economic data and increasing BTC-spot ETF inflows. The ISM Manufacturing PMI rose to 49.3 in December, signaling economic resilience and boosting investor confidence in risk assets.
Crypto-related stocks also gained, with MicroStrategy (MSTR) jumping 13.22% and Marathon Digital Holdings (MARA) rising 14.12%.
ETF Inflows Propel Bitcoin Demand:
US BTC-spot ETFs saw net inflows of $655 million on January 3, reversing outflows of $242.3 million recorded the previous day. Major contributors included:
- Fidelity Wise Origin Bitcoin Fund (FBTC): $357 million inflows
- ARK 21Shares Bitcoin ETF (ARKB): $222.6 million inflows
These inflows underscore growing institutional interest, strengthening Bitcoin’s price momentum toward the $100K mark.
US Strategic Bitcoin Reserve Proposal Gains Momentum
Market speculation over a potential US Strategic Bitcoin Reserve (SBR) has further boosted sentiment. On January 2, Anthony Scaramucci suggested that the Trump administration might acquire 500,000 BTC to establish an SBR.
Senate Banking Committee Chair Tim Scott and Treasury Secretary Scott Bissent reportedly support the proposal. Such a move could dramatically tilt supply-demand dynamics, pushing BTC to unprecedented levels.
Bitcoin Price Analysis and Outlook
BTC closed at $97,878 on January 3, marking a 1.09% daily gain. Near-term trends depend on ETF flows and progress toward the SBR proposal.
Key Levels to Watch:
- Upside Target: Record high of $108,231.
- Support Level: $90,742.
Continued bipartisan support for crypto regulations and sustained ETF inflows may push BTC past $100K, while setbacks could trigger short-term pullbacks.
Market Trends for XRP and BTC in 2025
As 2025 unfolds, XRP and BTC remain at critical junctures. Key drivers include:
- Regulatory clarity following the SEC’s Ripple appeal decision.
- ETF market inflows and potential Bitcoin reserve policies.
- Broader economic indicators and Federal Reserve policies.
Both XRP and BTC are poised for significant price movements, reflecting the evolving regulatory landscape and institutional adoption of cryptocurrencies.
Stay tuned for further updates and expert insights as these developments shape the future of digital assets.
