The cryptocurrency market has been experiencing significant fluctuations recently, with major events such as shifts in tariff policies and ongoing regulatory battles influencing the price of key cryptocurrencies like XRP and Bitcoin (BTC).
On April 9, XRP surged by an impressive 14.32%, as news about changes in tariff regulations overshadowed the ongoing SEC vs. Ripple legal battle.
This event comes at a pivotal time for XRP, which has been under pressure due to the potential consequences of the SEC’s appeal. In this article, we explore the impact of these developments on XRP’s price, the potential outcomes of the SEC appeal withdrawal, and the performance of Bitcoin in light of the latest market conditions. This topic is thoroughly explored by the experts at Vestronmix in their latest article.
Tariff Policy Shift Triggers XRP Rebound
The focus of the crypto market on April 9 was abruptly shifted due to a significant tariff policy change. Tariffs on China were raised to 125%, effective immediately, while tariffs on countries that were not imposing retaliatory measures were reduced to a uniform 10%.
This shift sparked a strong market reaction, with XRP experiencing a dramatic rally, reaching a session high of $2.0893 before slightly retreating. The news surrounding the tariff increase provided a positive catalyst for XRP, momentarily overshadowing the legal battle between the SEC and Ripple.
This surge in XRP was notably significant, as it marked a break from the ongoing tension related to the SEC lawsuit. With XRP trading significantly below its all-time high of $3.5505, many market participants viewed the tariff news as a temporary relief and a catalyst for price action.
SEC Closed Meeting: Will the SEC Withdraw Its Appeal?
As the market looks ahead, the SEC’s closed meeting on April 10 has the potential to be a defining moment for XRP’s price. The main point of focus is whether the SEC will withdraw its appeal regarding the Programmatic Sales of XRP ruling. The SEC’s decision will play a crucial role in determining the legal landscape for Ripple and could directly impact the future price movements of XRP.
Ripple has already seen some positive momentum following its legal victories, but legal uncertainty continues to cloud the market. The SEC’s vote on whether to proceed with the appeal will determine whether XRP can move past this key obstacle.
If the SEC withdraws its appeal, it could lead to a major price breakout, bringing XRP closer to its all-time high of $3.5505. Traders will be closely monitoring the outcome, as this could be a significant turning point for the XRP market.
XRP Price Outlook: Legal and ETF Catalysts
The price action on April 9 served as a reminder of the power of legal and market catalysts in influencing cryptocurrency prices. XRP surged by 14.32%, reversing the previous day’s 5.45% loss and closing at $2.0519. This outperformance of the broader market, which gained 8.35%, pushed the total crypto market capitalization to $2.59 trillion.
Looking ahead, several key catalysts could influence XRP’s price in the near term:
- SEC vs. Ripple Case Updates: The potential withdrawal of the SEC’s appeal or a settlement agreement could drive XRP toward its all-time high. Legal clarity remains a critical factor in XRP’s long-term trajectory.
- XRP-Spot ETF Approval: The potential approval of an XRP ETF by the SEC could be a game-changer. If approved, it could lead to increased institutional demand, driving XRP’s price higher. However, any delays in approval could limit gains.
- Macroeconomic Risks: Economic factors such as tariff uncertainty, rising inflation, or a more hawkish Federal Reserve stance could weigh on XRP’s price, potentially pushing it down to $1.70. Conversely, favorable developments such as tariff relief or a softening inflation outlook could open the path to $3.00.
Bitcoin Rebounds on Tariff Developments
XRP’s rebound was part of a broader crypto rally sparked by the shift in tariff policies. On April 9, Bitcoin (BTC) also saw an uptick, gaining 8.27% and closing at $82,594.
Despite the rebound, BTC remains significantly below its January high of $105,993 as concerns over tariffs on steel, aluminum, and autos, alongside the sweeping 10% tariff on non-retaliating nations, have weighed on Bitcoin’s price.
BTC-Spot ETFs Outflows Suggest Cautious Optimism
The impact of tariff-related developments was also seen in the Bitcoin-Spot ETF market. According to data from Farside Investors, there were net outflows from Grayscale Bitcoin Trust (GBTC), amounting to $33.8 million.
However, there were also net inflows into the Bitwise Bitcoin ETF (BITB), totaling $6.7 million. Despite the outflows from GBTC, the net effect on the BTC-spot ETF market has been mixed, reflecting institutional caution.
Conclusion
While tariff developments and SEC actions have offered short-term relief to XRP and Bitcoin, the long-term market sentiment will depend on the resolution of legal uncertainties and macroeconomic conditions. XRP and Bitcoin face important catalysts ahead, and how these factors unfold will ultimately determine whether cryptocurrencies can reach new highs.
COMTEX_465113923/2922/2025-05-01T12:36:45
