XRP Gains 0.89% as Court Appeal Nears End, ETF Speculation Intensifies
XRP rose 0.89% on August 16 to $3.1082, outperforming the broader crypto market’s 0.19% gain. Investor interest surged...
Quick overview
- XRP rose 0.89% to $3.1082 on August 16, outperforming the broader crypto market's 0.19% gain.
- Investor interest surged following the SEC's status report indicating potential approval of Ripple's dismissal filing.
- An official dismissal of the SEC vs. Ripple case could enhance institutional participation in XRP.
- Attention is shifting towards the approval of U.S. spot XRP ETFs, with BlackRock expected to lead the way.
XRP rose 0.89% on August 16 to $3.1082, outperforming the broader crypto market’s 0.19% gain. Investor interest surged after the SEC filed a status report with the U.S. Court of Appeals showing the pending approval of the Joint Stipulation of Dismissal submitted by Ripple earlier this month.
If approved, the filing will officially dismiss the appeals in the SEC vs. Ripple case, ending years of litigation. Former SEC attorney Marc Fagel said no further rulings are expected from Judge Analisa Torres, so investors can finally get some clarity.
Legal clarity has been weighing on XRP sentiment. An official dismissal would be a big deal, potentially removing a major overhang that has been holding back institutional participation.
Spotlight Shifts to ETFs
Now that Ripple’s legal outcome is almost settled, attention is turning to the approval of U.S. spot XRP ETFs. Analysts say ETFs could be the next driver of institutional adoption.
- Key catalyst: U.S. Court of Appeals approval of Ripple case dismissal
- ETF factor: SEC’s spot crypto ETF framework
- Market leader: BlackRock’s iShares XRP Trust filing
- Broader demand: SWIFT integration and bank licensing updates
BlackRock already dominates the ETF space with its iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA). Combined, these funds have seen over $70 billion in net inflows, more than Fidelity’s BTC and ETH products.
Industry experts, including Nate Geraci of ETF Store, expect BlackRock to file for both XRP and Solana ETFs, but timing will depend on SEC guidelines.
XRP Price Outlook and Risks
XRP’s short term is all about legal and ETFs. The token is above both the 50-day and 200-day Exponential Moving Averages (EMAs), so it’s bullish.
On the upside, above $3.3511 could open the door to $3.50 and potentially $3.6606. Below $3.00 could see XRP decline to $2.7254.And broader risks. But with legal clarity coming and ETF speculation heating up, XRP is now more about institutional action than regulatory risk.
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