Key Insights
- Ripple recently received a court victory after the SEC dropped its appeal.
- This removes major legal barriers for an XRP ETF, and experts believe BlackRock could file for an XRP ETF soon.
- Market confidence and trading volume in XRP have been on the rise after the case closed.
The multi-year Ripple vs US SEC lawsuit has officially come to an end. Also, the crypto industry is already looking toward what’s next. Legal clarity has now been established for XRP.
Market analysts are turning their attention to the possibility of an XRP ETF. And BlackRock may be leading the charge.
Ripple’s legal victory could open the door for major institutions like BlackRock to expand their crypto product offerings. Some experts even believe it’s only a matter of time before an XRP ETF filing lands on the SEC’s desk.
XRP ETF: Legal Clarity Fuels Market Optimism
Ripple and the SEC filed to dismiss all remaining appeals on August 7. This brought an official end to one of the biggest court cases in crypto history.
That decision now means that XRP is confirmed not to be a security in retail transactions. This is a very important aspect for exchanges and fund managers.
This new clarity has changed the mood in the market. Nate Geraci is the President of The ETF Store. He believes the timing is perfect for BlackRock to file an XRP ETF under its iShares brand.
Geraci argued that it makes no sense for BlackRock to only focus on Bitcoin and Ethereum going forward. “I’ll own it if I’m wrong. IMO, makes zero sense for them to ignore crypto assets beyond BTC and ETH,” Geraci wrote.
Geraci believes BlackRock may have been waiting for the lawsuit to end before acting. Now that it has, the path has opened up for more growth, and there’s a clear path ahead.
Multiple Firms Already in theofficially endedn’t the only asset manager looking at XRP. Companies like Bitwise, Grayscale, 21Shares, ProShares, WisdomTree and Franklin Templeton have already filed to launch the XRP ETF.
BlackRofficially endedn’t the only asset manager looking at XRP. Companies like Bitwise, Grayscale, 21Shares, ProShares, WisdomTree and Franklin Templeton have already filed to launch the XRP ETF.
This rising interest shows that institutions believe the regulatory environment is finally welcoming for XRP. However, if BlackRock enters the race, the game might change completely for XRP and its investors.
The firm already manages the iShares Bitcoin Trust (IBIT) and the iShares Ethereum Trust (ETHA). Also, it has more than $10 trillion in assets under management. This means that its involvement could drive massive attention (not to mention money) into XRP.
ETF analyst Eric Balchunas, however, is more cautious. He doesn’t believe BlackRock will rush into a filing. He also noted that the company may be content with its current crypto products. Still, he admitted that this outlook is mainly based on “gut feeling” rather than hard evidence.
XRP Price and Volume Spike After Lawsuit Ends
The market responded quickly to the lawsuit’s conclusion. XRP jumped over 13% within 24 hours. It is now outperforming other major cryptocurrencies by a wide margin.
CoinMarketCap data shows that XRP’s price rose above $3.30 in the last 24 hours. Also, its market cap touched $22 billion.
Trading activity also exploded. South Korean exchanges reported a 1,211% increase in XRP volume. The Deribit platform also saw traders open over 100,000 options contracts for XRP.
This spike isn’t just about short-term gains. With the legal threat removed, investors now see XRP as endedption for long-term exposure.
Polymarket Shows 88% Chance of XRP ETF by Year-End
Per the Polymarket data, traders currently see an 88% chance that an XRP ETF will be approved by December. That is a major boost from earlier dips. This came after negative comments from SEC Commissioner Caroline Crenshaw.
Balchunas, however, noted that Crenshaw consistently votes against all crypto-related ETFs and is usually outnumbered. Based on this, he believes XRP ETF approval odds are currently strong, and are even closer to 95%.
This kind of optims well with the recent resolution of the Ripple case. Without the legal uncertainty, regulators now face fewer hurdles when evaluating ETF applications involving XRP.
