XRP News Today: Ripple CEO's Move Sparks 5% XRP Surge, Boosts ETF Hopes

Ripple CEO Brad Garlinghouse's decision to drop the cross-appeal in the SEC lawsuit has sparked a 5% surge in XRP's price, reigniting hopes for a U.S. XRP ETF. This move comes after a U.S. district court denied a joint request from Ripple and the SEC to reduce the $125 million civil penalty and reverse a previous order regarding XRP sales. By ending the appeal, Ripple demonstrates confidence in its business model and regulatory position. If the SEC also drops its appeal, it would formally conclude a four-year conflict and offer clarity for other crypto firms facing SEC scrutiny.

Industry experts now anticipate a clear path for a U.S. spot XRP ETF, with BlackRock being speculated as a potential leader. While the U.S. is still figuring out alt-ETFs, Canada has already launched the “3iQ XRP ETF,” which quickly hit $32 million in AUM, indicating strong early demand. Nate Geraci, president of The ETF Store, called Ripple’s recent decision a turning point, increasing the odds for XRP ETF approval. Analysts have raised the XRP ETF approval odds to 95%, with many betting that BlackRock would be the most likely player to take the lead. Legal clarity would allow other big players to feel confident enough to explore launching an XRP-backed ETF, potentially boosting the XRP price higher.

Ripple’s CTO, David Schwartz, recently commented that real adoption could rise if cross-chain interoperability in the XRP ecosystem is introduced. This week’s Wormhole announcement is a clear indication that they are headed in that direction. Despite a bearish first half, XRP is maintaining a strong support area in Q2 and is consolidating near the channel’s upper boundary. Rising bullish sentiment, increased on-chain activity, major integrations, and recent legal clarity suggest a potential breakout ahead. If the legal battle surrounding XRP concludes favorably, a breakout could target the Q1 high of approximately $3.39, with the possibility of even higher targets. Analysts like Captain Redbeard also align with optimistic forecasts, highlighting that if XRP price advances, then a major bounce from the current demand zone could push a rise to $10.

Ripple is not formally “settling” in the traditional sense, as a proposed settlement was rejected. However, Ripple has withdrawn its cross-appeal and accepted the court’s $125 million penalty. The lawsuit is effectively ending as the SEC is also expected to withdraw its appeal. Analysts are highly optimistic for XRP post-lawsuit, with short-term targets ranging from $3.00-$3.59, and 12-month potential between $5.00-$8.00, especially with a likely spot XRP ETF approval. Some even project targets as high as $10-$15 in this cycle. A spot XRP ETF would likely boost XRP’s price significantly by unlocking billions in institutional capital, dramatically enhancing liquidity, legitimizing XRP as a mainstream investment, and shifting overall market sentiment to be overwhelmingly positive due to increased accessibility and regulatory clarity. The legal clarity from the Ripple case is expected to significantly encourage more institutional investment and product development in the U.S. crypto market, providing confidence for major players to launch new crypto-backed financial products and engage with digital assets.