Spot XRP ETF: Expert Says Path Is Clear for BlackRock, Ripple Price Jumps 3.5%

HIGHLIGHTS $XRP lawsuit settlement paves way BlackRock and other institutional players to enter the $XRP ETF space. Bloomberg analysts raising approval odds to over 95% optimism grows. Following Ripple’s legal breakthrough, $XRP’s price climbed 3.5% as on-chain data shows large holder accumulation. Ripple’s decision to drop its cross-appeal against the U.S. Securities and Exchange Commission (SEC) on Friday marks the conclusion of the four-year-long $XRP lawsuit. Industry experts suggest this development could pave the way for BlackRock to file a spot $XRP ETF. With this regulatory breakthrough, the approval process for a U.S. spot $XRP exchange-traded fund (ETF) is expected to gain momentum in the coming months. Following the announcement, Ripple's price rose by 4%, reaching $2.17.
BlackRock $XRP ETF Filing Coming Soon?
On Friday, blockchain firm Ripple announced its decision to drop the cross-appeal against the US SEC in the ongoing $XRP lawsuit. Company CEO Brad Garlinghouse stated that the Commission is likely to follow suit.

Commenting on the recent development, ETF Store President Nate Geraci called it a closed chapter, paving the way for a spot $XRP ETF. Geraci further noted that this resolution could also open doors for investment giant BlackRock to enter the space, potentially accelerating institutional involvement in $XRP and other digital assets.

Earlier this month, the Bloomberg analysts raised the approval odds of the $XRP exchange-traded fund (ETF) to more than 95%, citing the SEC's increased engagement with filings. As a result, $XRP shares an equal probability of approval for other crypto ETFs for altcoins like Solana, Cardano, and Litecoin. Currently, the Polymarket data shows the approval probability at 78% by the end of the year.

Other global jurisdictions have already stepped up the game with the 3iQ $XRP ETF going live in Canada last week. As reported by CoinGape, the ETF saw significant demand with assets under management (AUM) crossing $32 million within the first four days.
Ripple Price Jumps 3.5%, Industry Leaders Cheer
Following the development, Ripple price surged by 3.5% moving to $3.18. For a very long period of time, the Ripple crypto has been oscillating in the range of $2.0-$2.4. As per the Coinglass data, the 24 liquidations for $XRP have soared to $5.5 million, with more than $3.5 million in short liquidations.

Industry experts and $XRP lawyers have been celebrating the development. Attorney Fred Rispoli commented, saying:
"So, the fact that Ripple was ready with this decision less than a day from the Torres ruling means it at least heavily planned for this scenario, discussed it with the SEC, and made whatever agreements/discussions necessary for moving forward. Thank heavens this is over!"
Moreover, there have been questions about $XRP institutional sales. But $XRP lawyer Bill Morgan stated that wallet data points out the wallet data shows heavy accumulation by large holders. He added: "This growing institutional conviction was happening anyway despite the goings on between the SEC and Ripple to finally end the litigation".