Ripple Case and XRP-Spot ETFs in Focus On Thursday, February 20, XRP dropped by 1.75%, partially reversing Wednesday’s 6.90% rally to close at $2.6901. XRP trailed the broader crypto market, which advanced by 1.52%, taking the total market cap to $3.18 trillion.
Uncertainty over the SEC’s appeal strategy in the Ripple case weighed on XRP’s performance. Looking ahead, Ripple case-related updates and US XRP-spot ETF market developments remain the key price drivers. XRP Price Scenarios:
Bullish Case: If the SEC withdraws its appeal, XRP could break past its all-time high of $3.5505. ETF Catalyst: An XRP-spot ETF approval could push prices toward $5, driven by institutional inflows. Bearish Case: A continued SEC appeal and an ETF rejection could send XRP below $1.50.
Bitcoin Eyes $100K Return on Strategy (formerly MicroStrategy) News While investors monitor SEC activity and Ripple case-related news, bitcoin (BTC) is eying a return to $100K.
On Wednesday, February 19, Strategy (formerly MicroStrategy) Chairman and Founder Michael Saylor announced a $2 billion public offering of convertible senior notes. The announcement comes at a pivotal time for BTC, which has failed to break above $100k for twelve consecutive sessions.
Supply-demand trends have recently shifted as investors await fresh catalysts to influence BTC price action.
US BTC-Spot ETF Market Eyes Three-Day Outflow Streak Recent US BTC-spot ETF market flows suggest a shift in sentiment toward BTC’s price trajectory. On February 19, the US BTC-spot ETF market registered $64.1 million in net outflows. US BTC-spot ETFs faced outflows for the third straight day on February 20. According to Farside Investors,
SEC Disbands Crypto Unit – What It Means for Ripple; BTC Eyes $100K
XRP price struggles as SEC remains silent on its appeal strategy, keeping traders on edge about Ripple’s legal future. SEC disbands its crypto unit, fueling speculation on Ripple’s case and a potential shift in regulatory enforcement. Grayscale’s XRP-spot ETF filing starts the approval clock—could this be the catalyst for a major XRP price rally? Recent US BTC-spot ETF market flows suggest a shift in sentiment toward BTC’s price trajectory. On February 19, the US BTC-spot ETF market registered $64.1 million in net outflows. US BTC-spot ETFs faced outflows for the third straight day on February 20. According to Farside Investors, February 20 ETF flows were as follows:
Blockchain Association, an established advocacy organization in the United States focused on the crypto and blockchain industry, has announced a record-breaking membership milestone. Earlier on Thursday, the Blockchain Association announced that it had enlisted 16 new members to further support pro-innovation national policy and regulatory framework for the cryptocurrency industry.
The organization welcomes more than a dozen well-funded Web3 projects, thus totaling its members to almost 100. Some of the distinguished projects and organizations that joined the Blockchain Association include Chainlink Labs, Zcash Foundation, Uniswap Foundation, Polymer Labs, Jito, Flow Traders, Alchemy, FalconX, and Sky Mavis, among others.
Chainlink Labs, Uniswap Foundation Among 16 Projects Joining Blockchain Association
The US-based crypto advocacy group Blockchain Association achieves a milestone by adding 16 prominent web3 projects, bringing total membership close to 100.
Onchain analysis is the examination of blockchain data to understand transaction patterns, asset movements, and network health.
It provides unique insights into market movements, absent in traditional finance, providing participants with a different approach to research and due diligence.
Onchain analysis can be a new framework for crypto valuation which allows users to establish an edge.
Franklin Templeton launches spot Bitcoin and Ethereum ETP On Thursday, U.S.-based investment firm Franklin Templeton announced the launch of exchange-traded products (ETPs) for Bitcoin and Ethereum.
The development was among the factors that contributed to Litecoin’s retracement, as investors redirected their attention toward the two largest cryptocurrencies.
The newly launched Franklin Crypto Index ETF (EZPZ) provides exposure to Bitcoin and Ethereum price movements, marking another milestone in institutional crypto adoption. The ETP’s sponsor fee of 0.19% will be waived for investors until August 31, 2025.
Need to catch up on the news? Here's our top 10 from today:
🔸Pump. fun has been hit with a class action lawsuit accusing it of violating the US securities laws, claiming that all memecoins on the platform are securities.
🔹Tether Integrates USDT into Bitcoin Lightning Network
🔸The SEC has approved Bitwise’s #Bitcoin ETF and $ETH ETF.
🔹WSJ reports that Trump’s Bitcoin reserve plan could push central banks to buy BTC.
🔸Italy’s data protection authority blocked the Chinese AI app DeepSeek over privacy concerns.
🔹Sam Bankman Fried’s parents are attempting to seek a pardon for their son from President Trump.
🔸Grayscale files for an $XRP ETF with the New York Stock Exchange.
🔹Kraken is launching staking features for US customers on 17 blockchains, including Solana and Ethereum.
🔸The Czech National Bank approves proposal to assess expanding its reserves to new asset classes.
🔹 ECB President Lagarde says she’s confident #Bitcoin won’t be added to the reserves of any central banks of the general council.
$SOL Solana ETF: There's speculation about a potential Solana ETF approval, which could push SOL's price to $500. However, it's essential to note that this is still uncertain .
#SOLETFsOnTheHorizon The Solana Foundation has released an Energy Impact Report, highlighting the network's environmental impact and efforts to mitigate it.
It's worth noting that consumer confidence has been volatile in recent months, with the index improving in November, but declining in December . The Conference Board, which releases the index, will provide an update on January 28th.
#USConsumerConfidence US consumer confidence took a hit in December, with the Consumer Confidence Index declining by 8.1 points to 104.7 . This drop was largely driven by concerns about the future, with the Expectations Index tumbling 12.6 points to 81.1. This is just above the threshold of 80, which usually signals a recession ahead.
Consumers' assessments of current business conditions also eroded somewhat, with 19.1% saying conditions were "good," down from 21.6% in November . However, their appraisals of the labor market improved, with 37% saying jobs were "plentiful," up from 33.6% in November.
It's worth noting that consumer confidence has been volatile in recent months, with the index improving in November, but declining in December . The Conference Board, which releases the index, will provide an update on January 28th.
The current price of BNB is around $681.77, with a market capitalization of $97.15 billion.
Experts predict that BNB's price will fluctuate between $610.33 and $655.81 in January 2025, with an average trading price of $633.07. For 2025, the minimum price is expected to be around $883.20, with a maximum price of $1,020 .
The technical analysis of BNB's price suggests a bearish trend in the short term, with a 50-day moving average indicating a weakening trend. However, the 200-day moving average shows a long-term bullish trend.
BNB is currently ranked #6 in the crypto ecosystem, with a circulating supply of 142.48 million BNB. The coin has shown strong potential lately, with a 9.1% increase in price over the last 7 days. $BNB