XRP News Today: XRP Surges 2% on BlackRock SEC ETF Lobbying Reports

Speculation around a potential spot XRP exchange-traded fund (ETF) intensified following a post by crypto analyst John Squire. Squire shared on X that BlackRock is reportedly pressuring the SEC to approve spot XRP ETFs. He framed the statement as speculation, not confirmation, but the report has fueled excitement within the XRP community. However, there has been no official filing or acknowledgment to suggest that a decision is imminent, and the SEC’s historically slow approach to crypto ETFs reinforces the need for tempered expectations.

As Monday gradually winds down without any formal word from the SEC or BlackRock, the probability of an imminent ETF approval today appears increasingly doubtful. The speculation continues to build, with some community members discussing the procedural requirements needed to greenlight institutional investment products. One contributor outlined what they believe to be the sequence of events required. First, the SEC must officially withdraw its appeal. Second, the court must acknowledge the resolution and issue or confirm the associated penalties. Only after these steps, they argue, would XRP be positioned for institutional products like ETFs.

However, there is some disagreement regarding the case’s status. Legal analyst Marc Fagel noted that Judge Analisa Torres already delivered her final ruling over a year ago, suggesting that once both appeals are dropped, no further court action would be necessary. Others dispute this, stating that the court still maintains jurisdiction over the case until November, unless an earlier directive is issued. This uncertainty has added complexity to predictions about when the matter will be fully resolved.

At the same time, Ripple has taken a decisive step toward resolving its long-standing legal dispute with the SEC. CEO Brad Garlinghouse recently confirmed that Ripple has formally withdrawn its cross-appeal in the case. The move is widely interpreted as a sign that the company expects the SEC to reciprocate by abandoning its appeal efforts. If both actions are completed, the case would effectively be resolved, removing a major regulatory cloud that has hung over XRP since 2020.

XRP’s price responded swiftly to the news of BlackRock’s lobbying efforts and the legal developments. The token rose to $2.22 shortly after the reports surfaced, only to retreat to $2.18 following profit-taking by short-term traders. This pattern is consistent with previous market behavior surrounding ETF speculation in the cryptocurrency sector. Investor caution remains high, particularly given the SEC’s historically lengthy evaluation process for cryptocurrency investment vehicles. Both Bitcoin and Ethereum ETFs experienced extended periods of review prior to gaining regulatory approval. As such, while optimism around an XRP ETF is rising, most analysts advise tempered expectations regarding the timeline.

For now, XRP holders are closely monitoring both the SEC’s decision on its appeal and any forthcoming announcements from BlackRock or other institutional players. Any confirmation of ETF approval would likely represent a key moment for the token’s market position and long-term investor confidence. The potential ETF approval has led to detailed discussion among XRP community members regarding the procedural requirements needed to greenlight institutional investment products. The legal closure and ETF viability are closely linked, with the resolution of the legal dispute being a crucial step towards the approval of an XRP ETF.