XRP News Today: SEC Appeal or ETF Launch? Market Eyes Crucial XRP Catalyst

SEC Appeal Vote or XRP-Spot ETF Launch: Which Will Come First?

This week, the SEC approved the rule change for the Grayscale Digital Large Cap Fund to convert into the Grayscale Digital Large Cap ETF (GDLC). GDLC invests in BTC, ETH, ADA, SOL, and XRP, bringing ADA, SOL, and XRP to the US spot ETF market for the first time.

However, the SEC also imposed a stay on their ability to launch the ETF, meaning the launch date will be in the hands of the agency. ETF Store President Nate Geraci remarked on the SEC’s stay, stating:

“Fwiw, I actually view this as extremely positive… SEC Division of Trading & Markets *did* issue GDLC approval order. Agree w/ James that delay is simply SEC wanting to put in place formal listing framework/standards for crypto ETFs overall. Once that happens, floodgates open.”

Geraci referenced the SEC’s creation of a listing standard for token-based ETFs. Crypto America host and journalist Eleanor Terrett shared news of the SEC’s policy move, stating:

“The SEC is in the early stages of creating a generic listing standard for token-based ETFs in coordination with exchanges. The thinking, I’m told, is that if a token meets the criteria, issuers could skip the 19b-4 process, file an S-1, wait 75 days, and the exchange could list it. This approach could save both issuers and the SEC a lot of paperwork and back-and-forth on comments.”

The delay to the launch of Grayscale’s GDLC ETF came as investors await an SEC vote on withdrawing the appeal in the Ripple case. With no timeline for a standardized ETF framework, the SEC’s appeal withdrawal could potentially happen first.

Will BlackRock File for an XRP-Spot ETF?

An end to the Ripple case and a clear framework for crypto-spot ETFs may lead BlackRock (BLK) to file for an XRP-spot ETF. In May, BlackRock met with the SEC Crypto Task Force to discuss ETF approval standards, fueling speculation about an ETF filing.

The ETF issuer has remained silent on plans to launch an XRP-spot ETF since a fake iShares XRP-spot ETF Trust filing in November 2023. The filing triggered a pump-and-dump rally, potentially forcing BlackRock to delay filing plans until the resolution of the Ripple case. An appeal withdrawal may coincide with the SEC’s ETF framework.

An iShares XRP-spot ETF could be crucial to the success of a spot ETF market. Since launching in January 2024, the iShares Bitcoin Trust (IBIT) has seen $52.646 billion in net inflows, offsetting Grayscale Bitcoin Trust’s (GBTC) $23.333 billion in net outflows, leaving the BTC-spot ETF market with total net inflows of $49.622 billion. Strong inflows in May 2025 sent BTC to an all-time high of $111,917. XRP could benefit from similar demand.

Bloomberg Intelligence Senior ETF Analyst Eric Balchunas viewed the SEC’s plans for a standardized approach as a positive, stating:

“Yes, this is what everyone wants, what makes sense and what we think will happen and why we so bullish (95% on most of the coins) approval. Q is what will the standards be. We think they’ll likely be loose enough where the vast majority of Top 50 coins would be ok to be ETF-ized.”

XRP Price Outlook: SEC Appeal Developments and ETF News

XRP slipped by 0.11% on Saturday, July 5, following Friday’s 1.65% loss, closing at $2.2195. The token underperformed the broader market, which rose 0.21%, raising the total crypto market cap to $3.29 trillion. Uncertainty about the SEC’s appeal withdrawal plans left XRP trailing the broader market.

The near-term XRP price outlook hinges on the SEC’s appeal vote and XRP-spot ETF developments.

A breakout above the June 11 high of $2.3376 could bring the May 12 high of $2.6553 into play. Sustained buying pressure may pave the way to $3, potentially opening the door to retesting the January 16 high of $3.3999.

Conversely, a drop below the 50-day Exponential Moving Average (EMA) could expose the 200-day EMA and the crucial $2 psychological support level.

Broader Market Outlook

XRP’s outlook depends heavily on the SEC’s appeal plans and external events. The token had previously climbed to a January 2025 high of $3.3999 amid speculation that the SEC would withdraw its appeal and President Trump’s pro-crypto agenda. However, broader geopolitical events and central bank cues, including the Iran-Israel war, trade developments, and Fed policy signals, continue to influence overall market sentiment.

In the near term, Ripple case-related updates, legislative developments, geopolitical risks, and ETF-related news will remain key drivers of XRP’s performance.

Unlock expert XRP insights here before the next move.