The US Senate confirmed President Trump’s nomination of Paul Atkins as SEC Chair on Wednesday, April 9, strengthening expectations of a crypto-friendly regulatory backdrop. However, the SEC and Ripple kicked the can down the road on April 10, jointly filing a request to suspend the appeal in the SEC vs. Ripple case. The request means that Ripple does not need to file its appeal-related reply brief by Wednesday, April 16.
Pro-crypto lawyers have speculated that the SEC may delay an appeal withdrawal until Paul Atkins officially assumes his role. In February 2025, James ‘MetaLawMan’ Murphy commented on the 60-day stay filing in the SEC vs. Binance case, suggesting Acting Chair Mark Uyeda and Commissioner Hester Peirce wanted to wait for Atkins’ arrival before dismissing the case. Fellow pro-crypto lawyer Bill Morgan referred to the Ripple case, suggesting it would be hard to move before the Commissioners can vote 3-1 to dismiss.
If Acting Chair Uyeda and Commissioner Peirce are indeed waiting for Atkins’ arrival, an appeal withdrawal vote may be imminent. On Monday, April 14, CryptoAmerica host and journalist Eleanor Terrett stated:
On Monday, April 14, XRP gained 0.38%, partially reversing Sunday’s 1.88% loss, closing at $2.1267. XRP tracked the broader crypto market, which rose 0.75%, taking the total crypto market cap to $2.64 trillion.
While reduced US tariffs supported risk sentiment, XRP’s path forward will likely hinge on several critical drivers:
XRP’s gains coincided with bitcoin (BTC) also edging higher as investors reacted to President Trump’s tariff pivot. BTC remains sensitive to shifts in US trade policy, tracking both macro sentiment and equity markets. The Nasdaq Composite Index rose 0.64% on the day.
President Trump’s evolving tariff policy has influenced the broader crypto market. Since Trump’s 2025 inauguration, tariff concerns have contributed to a 20% decline in BTC.
Concerns about the impact of tariffs on the US economy have left BTC languishing below $100,000 and its all-time high of $109,312. US BTC-spot ETF market flows have reflected institutional investor sentiment, adversely impacting BTC’s supply-demand balance.
According to Farside Investors, flows for April 14 pointed to an eight-day outflow streak:
On April 14, BTC gained 1.01%, partially reversing Sunday’s 1.88% drop, closing at $84,625. Significantly, BTC last broke above $90,000 on March 6, underscoring the influence of BTC-spot ETF flows on investor sentiment.
Although the SEC’s latest filing in the Ripple case offers short-term clarity, the longer-term outlook remains tied to regulatory developments and broader economic stability.
Explore what analysts believe is needed for cryptos to reach new highs.
Post a Comment