After being denied by US District Judge Analisa Torres last month, Ripple and the SEC filed another motion to finally end their landmark legal battle. The two parties are again trying to relitigate Ripple’s right to sell securities.
However, legal commentators called this effort a “rare whiff” from Ripple’s legal team and do not believe it will work. If the court denies again, the company may need to accept its ban on selling securities for the time being, at least to retail investors.
Today, they returned before Judge Torres, once again attempting to wrap up the last disputes.
NEW: The @SECGov and @Ripple have jointly requested a Manhattan District court to dissolve the injunction in their ongoing case and release the $125 million civil penalty held in escrow.
They’re proposing that $50 million be paid to the SEC, with the remaining funds returned… pic.twitter.com/UopQuQNG5q
Their proposed deal cites a few “exceptional circumstances,” such as the SEC’s total shift on crypto policy, as sufficient justification to change a prior ruling.
The issue is whether the SEC should ban Ripple from selling securities under Gary Gensler. Simply put, the current Commission would like to reverse this decision. Large fees are also in the mix, but they’re a secondary concern.
Still, Fred Rispoli, a trial lawyer specializing in crypto cases, expressed skepticism with the move, considering the proposal sloppy:
“I don’t like this filing based on how obvious it was from Judge Torres’ last ruling that she was pissed. I recommended a long, detailed motion explaining the SEC’s failures in crypto regulation (with Commissioner declarations) and some apologies from Ripple for what it got tagged on. Instead, we got one paragraph on the other SEC dismissals and a paltry mention of the SEC Crypto Task Force. Oof,” Rispoli stated.
Legal experts on social media think this filing doesn’t make substantial changes in legal citations from the last attempt, and they believe Torres will reject this one, too.
However, in all likelihood, Judge Torres has the legal grounds to recognize the SEC’s renewed direction and accept this motion to dismiss the lawsuit.
So, June 16 remains the key date. If this motion doesn’t persuade the Judge, Ripple will have to wait until 2026 for another chance at dismissal.
At a certain point, even if both institutions wish to permit non-institutional securities sales, the choice may be out of their hands. Ripple may need to start seriously preparing for a future where it cannot reverse this ruling, period.
As Bitcoin flirts with the key psychological threshold of $100,000, derivatives traders are closely watching for signals that could mark the final leg up—and are already positioning for what may follow.
Derivatives experts Gordon Grant and Joshua Lim told BeInCrypto that Bitcoin’s move past $100,000 now reflects a long-term holding strategy, unlike the speculative trading seen when it first crossed that threshold after Trump’s election victory.
Bitcoin Nears $100K: A Different Kind of Ascent?
At the time of press, Bitcoin’s price hovers just below $98,000. As it grows, traders anxiously watch for it to surpass the $100,000 threshold. When it does, it will be the second time in crypto history that this will happen.
According to Cryptocurrency Derivatives Trader Gordon Grant, the current move toward six figures lacks the euphoric energy of past rallies, such as the one after Trump won the US general election last November. However, that may be a good thing.
“This current bounce back feels much more of a low-key, lethargic reclamation of those highs,” Grant told BeInCrypto, referencing Bitcoin’s recovery from lows around $75,000 in early April. “The positioning rinsedown through all key moving averages… was a proper washout.”
He added that this washout, a sharp move lower that flushed out weak hands, cleared the decks for a healthier rebound. A “high-velocity bounce” followed, as Grant phrased it.
“[It] has since responsibly slowed down at the $95,000 pivot—a level at which Bitcoin has been centered, +/- 15%, for over five months now,” he added.
“Current complacency among vol sellers in fading the technical threshold at $100K is markedly different,” he said.
Grant added that, back in December, volatility spiked on expectations of a rapid moonshot toward $130,000–$150,000. Now, however, implied volatility has actually fallen by around 10 points during the final 10% of Bitcoin’s climb—an unusual dynamic that has punished traders holding out-of-the-money options who were betting on big price swings.
This time, the substantial loss of market optimism also contributes to the situation.
The Rise of Institutional Buyers
Market sentiment has shifted significantly since January. The excitement seen during Trump’s election has been replaced by uncertainty. According to Grant, souring macro conditions such as tariff-driven equity selloffs and growing caution among traders have contributed to this mood shift across markets.
“Whereas BTC on first launch to/through $100K was accompanied by euphoria about presidential policies… the re-approach has been marred by malaise,” Grant explained.
In short, the motivation to buy may now be driven more by fear than greed.
Joshua Lim, Global Co-Head of Markets at FalconX, agreed with this analysis, highlighting a notable shift in the primary source of Bitcoin demand.
“The dominant narrative is more around Microstrategy-type equities accumulating Bitcoin, that’s more consistent buyers than the retail swing traders,” Lim told BeInCrypto.
In other words, more speculative retail buying might have fueled earlier enthusiasm around Bitcoin’s price hitting $100,000. This time, the more consistent and significant buying is coming from large companies adopting a long-term Bitcoin holding strategy, similar to the one adopted by Michael Saylor’s Strategy.
The recent formation of 21 Capital, backed by mega companies like Tether and Softbank, further confirms this shift in motivation.
Consistent institutional buying can also sustain an increase in Bitcoin’s price over time.
Why Are Institutions Increasingly Bullish on Bitcoin?
With growing momentum from sovereign players and corporate treasuries, institutional buying may be critical in sustaining Bitcoin’s next upward trajectory.
Grant highlighted that developing countries seeking to move away from a weakening dollar and towards a more independent asset like Bitcoin could play a significant role. If this were to happen, it’d signify a potentially tectonic shift to global monetary policy.
“The Global South, tiring of wonky and inconstant dollar policies, may be truly thinking about dumping dollars for BTC,” Grant explained, clarifying, “That’s a reserve manager decision, not a spec/leverage position.”
Increased institutional adoption strengthens the idea that Bitcoin now serves as a way to reduce risk against issues pertinent to financial systems, like inflation or currency devaluation.
“The proliferation of SMLR, 21Cap, and many others, including NVDA deciding they need to derisk their balance sheets by rerisking on BTC—even as it approaches the top decile of all-time prices,” Grant pointed to as evidence.
Simply put, even large institutions are choosing to take on the risk of Bitcoin’s price fluctuations as a potential offset to other, potentially larger financial risks.
Despite the excitement surrounding Bitcoin’s approach to $100,000, the true anticipation centers on its continuing development as an increasingly permanent component of the financial system.
Onyxcoin (XCN) is down nearly 10% over the past seven days, cooling off after a sharp 200% rally between April 9 and April 11. Momentum indicators suggest that the bullish trend may be losing strength, with both the RSI and ADX showing signs of fading conviction.
While XCN’s EMA lines remain in a bullish formation, early signs of a potential reversal are emerging as short-term averages begin to slope downward. The coming days will be key in determining whether Onyxcoin can stabilize and resume its climb—or if a deeper correction is on the horizon.
Onyxcoin Shows Early Signs of Stabilization, but Momentum Remains Uncertain
Onyxcoin’s Relative Strength Index (RSI) is currently sitting at 43. Readings above 70 typically indicate that an asset is overbought and could be due for a pullback, while readings below 30 suggest it may be oversold and poised for a potential rebound.
XCN’s RSI signals a neutral state but shows signs of gradual recovery. While not yet a clear bullish signal, yesterday’s upward move suggests that bearish momentum may be easing.
For now, XCN appears to be in a wait-and-see phase, where a continued climb in RSI could signal a shift toward renewed upside, but any further weakness might keep the price trapped in a consolidation range.
XCN Uptrend Weakens as ADX Signals Fading Momentum
Onyxcoin’s Average Directional Index (ADX) has declined to 11, down from 13.92 yesterday and 15.26 two days ago. This decline reflects a consistent weakening in trend strength.
The ADX is a key component of the Directional Movement Index (DMI) and is used to measure the strength—not the direction—of a trend on a scale from 0 to 100.
Values below 20 typically suggest that the market is trending weakly or not at all, while readings above 25 confirm a strong and established trend.
With the ADX now at 11, Onyxcoin’s trend is losing momentum, even though it technically remains in an uptrend. This low reading suggests the current bullish phase is fragile and may lack the conviction needed for sustained upward movement.
Combined with EMA lines that are beginning to flatten, the weakening ADX adds weight to the possibility that the trend could soon shift or stall.
If no surge in buying pressure emerges to reinforce the uptrend, XCN may enter a period of sideways movement or even a reversal in the short term.
Onyxcoin at a Crossroads as EMA Lines Hint at Possible Trend Reversal
XCN EMA lines remain bullish for now, with short-term averages still positioned above long-term ones.
However, the short-term EMAs have started to slope downward, raising the possibility of a looming death cross—a bearish crossover in which the short-term average falls below the long-term average.
If this crossover materializes, it would signal a shift in trend direction and could trigger a deeper pullback, after a 200% rally between April 9 and April 11, making it one of the best-performing altcoins of the previous weeks.
Key support levels to watch are $0.016, followed by $0.0139 and $0.0123. If bearish momentum accelerates, XCN could drop as low as $0.0109, marking a potential 38% correction from current levels.
NEW: The @SECGov and @Ripple have jointly requested a Manhattan District court to dissolve the injunction in their ongoing case and release the $125 million civil penalty held in escrow.
