XRP Surges 3.475% Amid Legal, ETF Developments

XRP's latest price was $2.83, up 3.475% in the last 24 hours. The cryptocurrency has been in the spotlight due to several recent developments that could significantly impact its future. One of the most notable events is the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC).

Former SEC enforcement attorney Marc Fagel has provided clarity on the speculation surrounding the potential conclusion of the SEC’s lawsuit against Ripple. He emphasized that the legal processes within the SEC do not move as quickly as some might expect. Fagel noted that it typically takes a month or two for the SEC to vote on an enforcement recommendation, and that the process involves several steps before any official announcement can be made. This clarification came in response to suggestions that the SEC could announce the endgame at any moment. Fagel’s response was clear: the process requires an internal vote by the Commission, which has not yet occurred. Until then, the appeal technically remains open. Once the SEC completes its internal process and approves the withdrawal, both parties must jointly notify the court. Only then will Judge Analisa Torres’s previous rulings and penalties fully take effect, officially closing the case. Despite the excitement in the XRP community, there’s no indication that the SEC will act immediately. Fagel emphasized that even if the Commission intends to drop the appeal, it typically takes a month or two to schedule and vote on an enforcement recommendation. Speculation that the SEC might use a weekend or early July meeting to announce a decision is misplaced. He dismissed the significance of a recent July 3 closed-door SEC meeting, saying it “tells us nothing about Ripple timing.” In reality, such meetings are routine and unrelated to specific enforcement actions unless explicitly stated. Legal experts now suggest that, barring any complications, the appeal could be dropped within the next couple of months. That timeline aligns with Fagel’s understanding of how the SEC typically handles enforcement resolution. Fagel also clarified that Judge Torres is no longer actively involved in the case. Her rulings stand, and there is nothing more for the court to do until both parties submit formal notice of appeal withdrawals. Once that happens, the court will automatically close the matter—no further hearings or judicial action are required. Fagel’s detailed explanation breaks down the path forward: the SEC must first vote internally to drop its appeal. Then, both sides will file a joint dismissal. Only after this procedural process is complete will the Ripple case be officially closed. His insight provides a much-needed reality check for the XRP community. While the legal endgame is clearly in motion, it will not arrive overnight. The wheels of regulatory enforcement, Fagel reminds us, turn slowly, but they do turn.

Another significant development is the upcoming launch of ProShares' XRP ETF on July 18, 2025, in the United States. This marks a major step for XRP and the broader altcoin market, with ripple effects anticipated across industry sectors. ProShares is introducing its new XRP ETF with aims to offer regulated exposure to XRP. Ripple Labs, though responsible for XRP’s creation, hasn’t directly commented on the ETF. Teucrium and Tuttle Capital have been active in XRP ETF offerings, further diversifying the investment landscape. Teucrium’s existing ETF has seen considerable asset flows, indicating robust interest. XRP remains central, with potential effects anticipated on BTC and ETH as well. Institutional interest in XRP is expected to grow, providing a boost to market activity and potentially elevating other digital assets. Increased XRP volumes could signal broader liquidity enhancements. Investors may see XRP as a more appealing option, particularly with regulated products becoming more accessible. Financial outcomes could reshape trading strategies across major exchanges. The ETF is poised to open doors for institutions seeking regulated exposure to XRP. The potential for rising institutional investments in XRP via ETFs, such as those offered by ProShares and Teucrium, may initiate broader participation in altcoins. Historical data from BTC ETF launches suggests possible volatility ahead. Market analysts anticipate that regulatory approvals will impact future technological and economic dynamics in the crypto sector. The move was revealed through a Form N-1A registration filed with the U.S. Securities and Exchange Commission, listing ProShares Trust as the fund issuer. The ETF aims to provide exposure to XRP futures contracts rather than direct ownership of the cryptocurrency. The filing outlines plans for the fund to become effective immediately under SEC rules, with the listing date confirmed for mid-July. This development marks a major milestone in XRP’s journey toward broader institutional acceptance, aligning with the wave of crypto-based ETFs introduced this year. The XRP Futures ETF is expected to give traditional investors easier access to the asset class through regulated financial products, potentially driving further adoption and volatility as the launch date approaches.

Crypto researcher SMQKE, via a tweet, has drawn attention to a highlighted excerpt from an official Ripple document, stating: “RIPPLE’S BUSINESS MODEL RELIES ON THE IDEA THAT DEMAND FOR XRP WILL INCREASE ITS PRICE.” The post is accompanied by an image from a Ripple publication titled “XRP Demand Examined,” which outlines the foundational principles behind Ripple’s approach to XRP’s long-term viability. The document in question includes clear statements from Ripple Labs that support SMQKE’s assertion. The referenced page comes from Ripple’s published materials and explicitly addresses the sources of XRP demand. Ripple affirms the fixed supply of 100 billion XRP and emphasizes that no more can be created under the protocol’s rules. Against this backdrop, the document outlines how Ripple anticipates demand for XRP to grow in tandem with the broader adoption of its protocol. The document explicitly states, “Ripple Labs’ business model is predicated on a belief that demand for XRP will increase (resulting in price appreciation) if the Ripple protocol becomes widely adopted.” This statement confirms SMQKE’s claim by outlining a direct link between XRP demand and Ripple’s strategic expectations of price growth. The same section also makes a critical distinction between types of demand. Ripple highlights the importance of “long-term ‘organic’ demand (as opposed to purely speculative demand),” and notes that for such demand to exist, XRP must “provide some utility to its holders.” The document goes on to identify two utility functions: XRP is used for security within the network and as a bridge currency. The document describes how XRP is used to secure the Ripple network by discouraging spam and denial-of-service (DoS) attacks. The network charges tiny fees in XRP for each transaction and requires small reserves to prevent abuse. For example, each account must maintain a reserve of 20 XRP, and small transaction fees—typically fractions of a cent—are permanently destroyed with each payment. These mechanisms are intended to create an economic barrier against spamming the network with excessive transactions. Ripple also requires small reserve amounts for trust lines and working orders, further emphasizing XRP’s function as a deterrent against system abuse. These utility features, Ripple asserts, contribute to organic demand for the asset because they ensure the stability and reliability of the network. The documentation presented in SMQKE’s tweet substantiates the claim that Ripple’s business model inherently depends on the increasing demand for XRP. It confirms that Ripple views the success of its protocol and the corresponding increase in XRP demand as essential for the long-term appreciation of XRP’s price. This aligns with Ripple’s strategic interest in fostering adoption of its technology, not solely for transaction processing, but also as a foundational driver of demand for XRP. By framing XRP as both a security mechanism and a bridge currency, Ripple underscores the practical utility it believes will drive this demand.

Ripple has submitted an application for a national trust bank license, signaling a strategic move to further integrate its services within the regulated financial framework. This move is part of Ripple’s broader strategy to enhance its position in the financial industry by aligning with regulatory standards. By obtaining a national trust bank license, Ripple aims to provide more secure and compliant financial services, which could attract a wider range of institutional clients. This development is seen as a positive step towards greater acceptance and integration of Ripple’s technology within the traditional financial system.

Prominent software developer Vincent Van Code has suggested that SWIFT, the global financial messaging network, may soon announce plans to utilize Ripple and XRP as an alternative settlement layer for interbank payments. This potential partnership represents a significant shift where collaboration could replace previous perceptions of competition between the two entities in modernizing cross-border payments. Van Code noted that Ripple's expanding network and technological progress may compel legacy players to seek integration rather than maintain standalone systems. SWIFT's extensive network contrasts with Ripple's blockchain-based RippleNet and On-Demand Liquidity (ODL) solution, which leverages XRP as a bridge asset. The ODL system eliminates the need for pre-funded nostro/vostro accounts by providing immediate liquidity, significantly reducing settlement times and operational costs for cross-border transactions. A collaboration could address inefficiencies in global payments infrastructure and mark a milestone in traditional finance adopting a decentralized digital asset for mainstream settlement use. While unconfirmed by SWIFT, the speculation aligns with broader industry trends toward blockchain integration. SWIFT previously tested blockchain interoperability solutions in 2022, while Ripple has engaged in dialogue with the organization and secured partnerships with numerous financial institutions. With increasing regulatory clarity and growing interest in blockchain rails within banking, such an alignment between SWIFT and Ripple's technology appears increasingly plausible. This development would validate XRP's utility within global payment systems and accelerate institutional adoption.