- BlackRock is reportedly pressuring the SEC for XRP ETF approval as early as Monday.
- Ripple drops cross-appeal and expects the SEC to also abandon its appeal soon.
- XRP price spikes on ETF hype but shows a typical retracement as traders take profits.
Speculation around a potential XRP exchange-traded fund has intensified following reports that BlackRock is pressuring the Securities and Exchange Commission to approve spot XRP ETFs as early as Monday. Analyst John Squire shared the rumor on X while expressing skepticism about the timeline, though he acknowledged such approval could trigger a major bullish wave for the cryptocurrency.
The ETF speculation comes as Ripple’s legal battle with the SEC nears its conclusion. CEO Brad Garlinghouse recently announced that Ripple is dropping its cross-appeal while expecting the SEC to similarly abandon its appeal. This effectively closes the regulatory chapter that has clouded XRP’s status for years.
Community members have engaged in detailed discussions about the precise legal requirements that must be fulfilled before XRP can qualify for institutional products like ETFs. One user outlined the necessary sequence: the SEC must drop its appeal following Ripple’s action, then Judge Torres must close or dismiss the case with the agreed fine, finally clearing the path for institutional adoption and ETF approval.
Legal Timeline Generates Community Debate
The legal timeline has sparked debate among community observers over the remaining steps before the case can be closed. Marc Fagel, an X user familiar with the proceedings, clarified that Judge Torres already issued her final judgment a year ago, meaning no further judicial action is required once both parties dismiss their appeals.
However, another community member disagreed with this view, noting that Judge Torres retains authority until November, when the case would time out automatically. They expressed skepticism that she would relinquish that authority early unless instructed to do so. While many legal experts anticipate a swift resolution after appeals are dropped, this view highlights uncertainty around the exact timeline.
The SEC still needs to vote on dropping its appeal, which is the final bureaucratic hurdle before the case reaches complete resolution. The timing debate carries practical implications for potential ETF approval. Institutional asset managers generally need a clear regulatory status before launching cryptocurrency investment products.
Price Action Follows Speculation Pattern
XRP’s price movement shows the typical cryptocurrency response to ETF speculation, surging to $2.22 immediately following the BlackRock report and case conclusion before settling back to $2.18 as traders took profits. This pattern shows previous reactions to ETF-related rumors across various cryptocurrencies.
The quick reversal suggests market participants remain cautious about unconfirmed ETF timelines, particularly given the SEC’s historically conservative approach to approving new cryptocurrency investment products. Bitcoin and Ethereum ETFs went through extensive regulatory review periods before gaining approval.
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