XRP News Today: Appeal Delay Threatens XRP ETF Timeline and Momentum

SEC Appeal Silence Challenges Market Optimism

The SEC’s silence in the ongoing Ripple case sank hopes for swift XRP-spot ETF approvals, capping XRP gains. The token rose 0.33% on Saturday, July 19, partially reversing Friday’s 2.04% loss to close at $3.4264. Despite the recovery, XRP fell short of Friday’s record high of $3.6606. XRP tracked the broader crypto market, which rose 0.31%, lifting the total crypto market cap to $3.81 trillion.

The Ripple case was seemingly absent from the SEC’s July 17 closed meeting agenda. Typically, the agency reveals key decisions from the Thursday meetings the following day. The SEC’s silence on its appeal withdrawal plans potentially led to investors taking profit.

Speculation about the timing of an SEC vote intensified this weekend. Former SEC lawyer Marc Fagel has frequently responded to queries or addressed misconceptions about the closed meetings. On Saturday, Fagel responded to a question on the potential timing of an appeal withdrawal, stating:

“It can typically take the SEC 1-2 months to vote on an enforcement recommendation. But since we don’t know when exactly the enforcement staff decided to recommend dismissing the appeal in response to the Judge’s 6/26 order, it’s pure speculation.”

Judge Analisa Torres rejected the SEC and Ripple’s joint motion for an indicative ruling on settlement terms on June 26. Ripple declared it would drop its cross-appeal the following day, June 27. The declaration suggested that the parties agreed to withdraw their appeals despite Judge Torres’ ruling.

Thursday’s upcoming SEC closed meeting marks one month since Judge Torres rejected the parties’ motion, taking XRP into Fagel’s 1-2 month timeline.

The ongoing delay in ending the Ripple case may also influence the SEC’s stance toward the XRP-spot ETF applications.

When Will the Grayscale Digital Large Cap ETF Launch?

The SEC approved Grayscale’s request for a rule change to convert Grayscale’s Digital Large Cap Fund (GDLC) into the Grayscale Digital Large Cap ETF (GDLC) on July 1. The ETF will invest in BTC, ETH, ADA, SOL, and XRP. However, the SEC also issued a stay order, preventing Grayscale from launching the ETH. Since the approval, Grayscale contested the SEC’s stay order on July 11.

As of writing, the SEC has yet to respond publicly to Grayscale’s letter. Given that BTC, ETH, and SOL spot ETFs are actively trading, XRP’s inclusion could be the stumbling block. The SEC stated the stay order was to allow the agency to roll out an ETF framework to standardize the filing and approval process. However, the Rex-Osprey Solana ETF launched on July 2, one day after the stay order.

An XRP-spot ETF launch could serve as the next major price catalyst for XRP, given that investors expect the SEC to drop its appeal.

XRP Price Outlook: SEC Appeal Developments and ETF News

The near-term XRP price trajectory hinges on the SEC’s appeal vote and XRP-spot ETF-related updates. If the SEC withdraws its appeal, XRP could break above the all-time high of $3.6606, with ETF approval potentially driving the token toward $5. However, the SEC’s silence on its appeal could pressure XRP demand.

XRP Price Action

Daily Chart

XRP trades well above the 50-day and the 200-day Exponential Moving Averages (EMA), affirming bullish momentum.

• On the upside, a breakout above the July 18 high of $3.6606 could signal a move toward $4. Sustained buying pressure may pave the way toward $5.
• On the downside, a drop below $3.3 could enable the bears to target sub-$3 levels.

The 14-day Relative Strength Index (RSI) sits at 81.89, indicating that XRP is in overbought territory (RSI > 70). Selling pressure may intensify at the July 18 high of $3.6606.

Broader Market Outlook

While developments in the Ripple case are key, XRP remains exposed to external catalysts. Broader macro headwinds—trade tensions and Fed monetary policy signals—continue to influence sentiment.

Looking ahead, legislative developments, SEC appeal-related updates, and ETF-related developments will be the primary drivers of XRP’s performance.

Click here for expert XRP price forecasts and upcoming SEC deadlines.