“BlackRock, Increasing Likelihood of XRP ETF Submission in July”... Market Optimism Rises with the Resolution of Legal Dispute↑

As the long-standing legal dispute between Ripple and the United States Securities And Exchange Commission (SEC) finally comes to an end, expectations for the launch of an XRP Spot ETF are rapidly increasing. On the 29th (local time), U Today reported that after Ripple's announcement of withdrawing the appeal, the possibility of large asset management firms, including BlackRock, submitting an XRP Spot ETF application in July has increased.

This change was triggered by Ripple's formal withdrawal of the appeal process against the SEC. With this, the largest lawsuit in the cryptocurrency industry, which has lasted for four years, has effectively concluded, and XRP has emerged as one of the few digital assets that have removed legal uncertainty.

The AI-based analysis platform AIXBT stated, “XRP is the only asset among major cryptocurrencies with complete regulatory clarity,” and predicted a high possibility of submitting an ETF in July. The CEO of ETF Store, Nate Geraci, also evaluated that “now a large management firm like BlackRock has an environment where they can prepare an XRP ETF.”

Ripple CEO Brad Garlinghouse officially declared the end of the legal dispute by stating, “This chapter is completely closed,” and after this statement, the price of XRP rose by about 5%, indicating an improvement in investor sentiment.

However, concerns about overheating also emerged. AIXBT warned that “currently, too many long positions are concentrated in the market,” and mentioned the possibility of a price adjustment after a short-term surge. Nevertheless, it is expected that the institutionalization of XRP will begin in earnest in the mid to long term.

As July approaches, the market is focused on whether BlackRock will actually submit an ETF application. A significant turning point is approaching, determining whether XRP will transform from a symbol of regulatory uncertainty into an official investment product on Wall Street.