Ripple’s years-long battle with the U.S. SEC is finally wrapping up, and the crypto world is buzzing with what this could mean next. With Ripple officially dropping its appeal against the SEC, many industry analysts believe the road is now wide open for a U.S. spot XRP ETF, possibly even from asset management giant BlackRock. As optimism floods the market, XRP’s price is already reacting, climbing over 3.5% in a matter of hours.
Lawsuit Ends, XRP ETF Approval Talk Begins
Last Friday, Ripple made a decisive move by dropping its cross-appeal in the XRP lawsuit. This marked the true end of a legal fight that has stretched since 2020. Nate Geraci, president of The ETF Store, called this a major turning point, saying it clears the way for a spot XRP ETF. With Ripple out of legal soup, BlackRock and other big players may now feel confident enough to explore launching an XRP-backed ETF.
BlackRock XRP ETF Could Be Next?
BlackRock hasn’t confirmed anything yet, but speculation is running hot. Earlier rumors in April and May 2025 about BlackRock launching a spot XRP ETF weren’t based on facts. In reality, BlackRock has consistently said they’re not interested in altcoins like XRP right now, mainly because of the legal issues Ripple was facing with the SEC.
However, based on last month’s hype, Bloomberg analysts raised the odds of an XRP ETF approval to over 95%, noting that the SEC is engaging more positively with altcoin ETF filings. According to Polymarket, there’s now a 78% chance we’ll see a spot XRP ETF approved before the year ends, and while the denial game is still on, there are hints that BlackRock would be the most likely player to take the lead.
XRP Price Pops, Whales Accumulate
As news of the dropped appeal broke, XRP surged to $3.18, gaining over 3.5%. This jump was accompanied by $5.5 million in liquidations, especially from short sellers who bet against the rally. Legal experts like Fred Rispoli and Bill Morgan praised Ripple’s strategic decision, pointing to increasing signs of institutional accumulation, large wallets loading up on XRP, even before the lawsuit ended.
While the U.S. is still warming up to XRP ETFs, Canada has already launched one. The 3iQ XRP ETF recently debuted and quickly hit $32 million in assets under management, showing strong early demand.
Now, all eyes are on the U.S. and whether BlackRock is ready to make the next big move.
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