$XRP Surges, Eyes $ETH and #2 Spot; $BTC Hits $118K

🔑 Key Points:

XRP jumps 7% as speculation grows over SEC dropping its appeal, boosting sentiment.

XRP ETFs see massive demand, with the Teucrium 2x XRP ETF rising 27%.

Bitcoin breaks $118,000, fueled by ETF optimism and dovish Fed bets.

XRP Update:

XRP rallies after a second closed SEC meeting failed to produce a vote. Investor optimism rises as the SEC may drop its appeal.

Ripple CEO Brad Garlinghouse testified that XRP is not a security, and criticized the SEC’s legal tactics.

XRP ETFs Soar:

XRP-Spot ETFs are seeing explosive demand. The Teucrium 2x XRP ETF (XXRP) surged 27%, indicating strong investor interest.

Bloomberg’s Eric Balchunas predicts US XRP-spot ETFs could outperform ETH-spot ETFs.

Grayscale vs. SEC:

Grayscale pushes for an XRP-spot ETF and challenges the SEC’s stay order, claiming the SEC lacks authority to delay ETF launches. The outcome is crucial for XRP’s future.

XRP Price Outlook:

XRP closed at $2.7324 after a 7.31% gain. A breakout above $2.97 could target $3.40, potentially flipping ETH for the #2 market cap spot.

A drop below $2.50 could expose $2.40, with $2.30 as the next support.

Bitcoin Hits $118K:

Bitcoin (BTC) reaches a new all-time high of $118,288, driven by institutional demand and positive ETF flows.

BTC-Spot ETFs see huge inflows, with $1.175 billion entering on July 10.

BTC Price Outlook:

BTC gained 1.5% to $116,886. Bullish trends could push BTC towards $120,000, while setbacks may pull it back to $110,000.

What to Watch:

Ripple case: SEC appeal vote.

Legislation: Crypto bill progress.

Fed guidance: Dovish or hawkish stance.

ETF flows: Key for BTC and XRP movement.

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