According to @FilanLaw, Judge Torres has denied both the SEC and Ripple's motion for an indicative ruling, stating that the motion would be denied as procedurally improper if jurisdiction were restored to the court (Source: Twitter/@FilanLaw, May 15, 2025). This development introduces short-term legal uncertainty for XRP, which could affect trading sentiment and increase volatility in the XRP/USDT pair. Traders should monitor court proceedings closely for further updates that may drive significant price action in the crypto market.

According to glassnode, despite recent strong rebounds in the crypto market, short-term hot capital for Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Ripple (XRP) remains significantly below their respective cycle highs. Specifically, BTC hot capital is down $60.5B or 60.8%, ETH is down $6.6B or 60.3%, SOL is down $5.9B or 38.4%, and XRP is down $5.5B or 71.7%. This suggests that while price recoveries have occurred, trader capital allocations remain cautious, potentially limiting short-term upside momentum and increasing volatility risk. Traders should closely monitor capital flows for signals of renewed bullish conviction. (Source: glassnode, Twitter, April 29, 2025)