Ripple Ends Legal Battle with SEC, Clearing Path for XRP ETF

After nearly five years of legal back-and-forth, Ripple Labs has officially ended its legal fight with the U.S. Securities and Exchange Commission (SEC). The company’s decision to drop its cross-appeal has sent an intense excitement across the crypto space. Many now believe that this move could open the door for a U.S.-listed spot XRP Exchange-Traded Fund (ETF), with BlackRock possibly leading the way. Ripple Drops Case Appeal, Markets React On June 27, Ripple made headlines by dropping its appeal in the lawsuit with the SEC. This move concludes a legal battle that began in 2020. The case had prevented XRP from gaining wider adoption, especially among banks and large financial institutions. Now that the case is over, investors are showing new confidence in XRP. The digital coin rose over 3.5% in a few hours and hit a high of $3.18. During that time, traders who bet on the price falling lost over $5.5 million. However, XRP price has dropped to $2.19, but it is still up 5% in the last 24 hours, according to CoinMarketCap data. Analysts Show Growing Confidence About an XRP ETF In a recent X post , Nate Geraci, president of The ETF Store, said this moment is a game-changer. In his view, Ripple’s legal win clears the way for a U.S. spot XRP ETF. While there is no official word from BlackRock yet, the market is buzzing with possibilities. Earlier this year, in April and May, rumors circulated that BlackRock might file for a spot XRP ETF. However, the company firmly denied these claims, saying it had no interest in altcoins like XRP due to ongoing legal concerns. Now that Ripple’s legal troubles are over, those concerns may no longer stand in the way. Financial analysts are taking notice. Bloomberg recently increased the chances of an XRP ETF approval to more than 95%. This change followed the SEC’s more open attitude toward ETFs based on altcoins. Prediction market Polymarket also reflects this rising confidence. As of now, the platform shows a high chance that a spot XRP ETF will be approved before the end of the year . Brazil, Canada Move Ahead of the U.S. While the U.S. is still waiting, other countries have already taken action. In April, Brazil approved an XRP ETF, with the hope that the U.S. would follow suit. Most recently, Canada gave the green light to the 3iQ XRP ETF , which has quickly grown to $32 million in assets, demonstrating strong investor interest. Legal experts like Fred Rispoli and Bill Morgan praised Ripple’s latest decision. They noted that large investors were already buying substantial amounts of XRP before the case concluded, suggesting that institutions may be preparing for what is to come next. The post Ripple Ends Legal Battle with SEC, Clearing Path for XRP ETF appeared first on TheCoinrise.com .

Source: The Coin Rise