XRP ETF Speculation Builds Amid BlackRock’s Reported Lobbying

Speculation around a potential spot XRP exchange-traded fund (ETF) intensified following a post by crypto analyst John Squire, who shared on X: “BlackRock is reportedly pressuring the SEC to approve spot XRP ETFs this Monday. I still have my doubts, but if this turns out to be true, we could be looking at the beginning of a major bullish wave.”

Squire’s statement sparked immediate interest across the XRP community, but he was clear in framing it as speculation, not confirmation. However, while the report has fueled excitement, it should still be treated with caution.

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.

https://twitter.com/TheCryptoSquire/status/1939340832710201644?ref_src=twsrc%5Etfw” rel=”nofollow noopener” target=”_blank

Ripple Drops Cross Appeal, Signaling End of Legal Conflict

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 CEO Brad Garlinghouse recently confirmed that Ripple has formally withdrawn its cross-appeal in the case.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.

Legal Closure and ETF Viability

The potential ETF approval has led to detailed discussion among XRP community members regarding 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. 

https://twitter.com/TimesTabloid1/status/1680250907504656385?ref_src=twsrc%5Etfw” rel=”nofollow noopener” target=”_blank

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.

Market Behavior Reflects Typical ETF Speculation Dynamics

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.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent BitcoinLinux’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. BitcoinLinux is not responsible for any financial losses.

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