XRP ETF Speculation Builds Amid BlackRock’s Reported Lobbying
2025-06-30 20:33:15
Main Idea
Speculation about a potential spot XRP ETF has increased due to reports of BlackRock lobbying the SEC, while Ripple's withdrawal of its cross-appeal signals potential legal closure, though market reactions remain cautious.
Key Points
1. Crypto analyst John Squire claimed BlackRock is pressuring the SEC to approve spot XRP ETFs, sparking community interest but requiring cautious interpretation.
2. Ripple has withdrawn its cross-appeal against the SEC, seen as a sign of expected legal resolution in the long-standing case.
3. XRP's price rose to $2.22 on ETF speculation but later retreated to $2.18 due to profit-taking, reflecting typical market volatility around such rumors.
4. The SEC's historically slow approval process for crypto ETFs suggests tempered expectations for an imminent XRP ETF decision.
5. Legal analysts suggest the SEC must first withdraw its appeal and the court must finalize the case before an XRP ETF becomes viable.
Description
Speculation around a potential spot XRP exchange-traded fund (ETF) intensified following a post by crypto analyst John Squire, who shared on X: “BlackRock is reportedly pressuring the SEC to approve spot XRP ETFs this Monday. I still have my doubts, but if this turns out to be true, we could be looking at the beginning of a major bullish wave.” Squire’s statement sparked immediate interest across the XRP community, but he was clear in framing it as speculation, not confirmation. However, while t...
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