Quick overview

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BlackRock, the world’s largest asset manager, has taken notice of the legal dispute between Ripple and the US Securities and Exchange Commission (SEC). BlackRock cited the Ripple case as a warning example of how regulatory enforcement can seriously impair the value of a digital asset in a recent SEC filing about its spot Bitcoin ETF.

The $11 trillion asset manager discussed the SEC’s case against Ripple and its executives, noting that after the complaint was filed in December 2020, XRP’s market capitalization sharply declined from over $100 billion to less than $10 billion. The company’s decision to emphasize this case underscores its role as a regulatory benchmark for the entire digital asset industry.

The fact that XRP is mentioned in BlackRock’s official filings indicates that the lawsuit’s stakes go well beyond Ripple. Judge Analisa Torres recently rejected the first joint motion to settle the case for procedural reasons.

Legal analysts expect a final resolution by the third quarter and anticipate a revised filing soon. BlackRock’s mention of the case in its Bitcoin ETF application shows that institutional finance is closely watching the outcome and preparing to act.

XRP is currently trading at roughly $2.18, staying just above the $2 psychological level despite ongoing legal uncertainty. On the daily chart, analysts see steady accumulation and signs of bullish divergence, with upside potential increasing as the lawsuit approaches a conclusion.

XRP could experience a sharp rally if Ripple wins, potentially reaching its all-time high of $3.08 and opening the door for more record highs.

BlackRock’s explicit reference to the Ripple case confirms that many in the cryptocurrency community have long suspected that the outcome of this lawsuit is about more than Ripple; it’s about the future of digital assets within regulated finance. e