XRP Gains as Ripple Ends Appeal and ETF Bets Grow

What to Know

• XRP jumped over 2% after Ripple dropped its cross-appeal, fueling optimism that the SEC might also abandon its legal challenge.
• If the SEC fully withdraws, the Programmatic Sales ruling stands — strengthening the case for an XRP spot ETF approval.
• Legal experts believe an SEC decision to dismiss could take 1–2 months, aligning with key ETF deadlines later this year.
• XRP’s price remains above the 200-day EMA but below the 50-day EMA, showing mixed technical signals.
• A confirmed SEC withdrawal could push XRP to retest its previous all-time high near $3.55.

Ripple Withdraws Cross-Appeal: Will the SEC Do the Same?

XRP gained more than 2% on June 28, building on its previous day’s rise, and closed at around $2.18. This positive price action outpaced the broader crypto market’s gains as investors reacted to Ripple’s strategic move to withdraw its cross-appeal in its long-running dispute with the SEC.

Ripple’s withdrawal brings the crypto community one step closer to closing a legal battle that began in late 2020. If the SEC also drops its appeal, the existing Programmatic Sales ruling would stand, which says XRP sales to the public aren’t unregistered securities sales — a key win for Ripple and the broader crypto industry.

Potential Ripple Impact on XRP Spot ETF

The end of the legal standoff could pave the way for an XRP spot exchange-traded fund (ETF). The ruling strengthens the legal clarity needed for major institutions and regulators to support ETF listings tied directly to XRP. With final deadlines for pending ETF applications set for October, a clean settlement could accelerate approval.

Pro-crypto lawyers have pointed out that Ripple’s quick decision likely involved discussions with the SEC, signaling the parties may have agreed on the next steps behind closed doors. The move comes after Judge Analisa Torres rejected their second request for an indicative settlement ruling that would have softened restrictions on institutional XRP sales.

Institutional Sales Still Face Scrutiny

Despite the optimism, Ripple’s expansion plans in the U.S. could still be affected by the existing injunction on institutional sales. Some legal experts argue that sales related to Ripple’s On-Demand Liquidity (ODL) services may not fall under the injunction since they are not considered traditional investment contracts.

However, uncertainty remains about how the SEC may interpret these transactions if the regulatory climate shifts under new leadership. So far, Ripple’s recent institutional activities have not triggered new charges, implying that its current practices align with securities laws — but the company had hoped to clear this up entirely through the cross-appeal.

SEC’s Next Steps and Possible Timelines

Ripple’s withdrawal is straightforward, but the SEC may need more time. While the agency doesn’t require court permission to dismiss its appeal, former regulators suggest the SEC commissioners would need to vote to finalize any withdrawal. Such a vote could take one to two months, meaning crypto markets may have to wait until August for clarity.

This timeframe aligns with the window to approve or deny XRP spot ETF applications. Should the SEC exit the legal fight soon, optimism around a near-term ETF approval could keep XRP prices supported.

XRP Price Outlook: Can Bulls Reclaim the 2025 High?

XRP’s near-term path will largely depend on what the SEC does next and whether ETF applications move forward. If the appeal is withdrawn, XRP could push toward its all-time high of $3.55. An ETF approval could add even more upside momentum.

However, if the SEC unexpectedly chooses to pursue its appeal further, XRP could face renewed selling pressure, with some analysts warning of a pullback to around $1.50.

On the charts, XRP trades below its 50-day Exponential Moving Average (EMA) but remains above its 200-day EMA. This mixed picture suggests near-term caution but a positive long-term trend. A sustained break above the 50-day EMA could open the door to retest resistance near $2.65 and, potentially, the $3 mark.

The Relative Strength Index (RSI) is near 50, signaling room for further gains before XRP risks becoming overbought.

Macro Factors and Broader Crypto Market Sentiment

Beyond Ripple’s legal case, XRP’s performance continues to be influenced by macro factors. Developments such as the Iran-Israel conflict, U.S. Federal Reserve policy, and global trade tensions can sway investor sentiment across crypto markets.

While Ripple’s legal clarity and a potential ETF approval are bullish factors for XRP specifically, any major geopolitical event or shift in risk appetite can still impact prices.

What Traders Should Watch Next

For now, traders and long-term holders should keep an eye on:

• Any signs that the SEC will formally withdraw its appeal.
• Updates from ETF issuers and regulators.
• Price action near the $2.65 resistance and the $2.00 support zone.
• Broader market shifts that could affect crypto liquidity and sentiment.

XRP remains one of the most watched tokens in the market. With its legal battle potentially nearing the finish line and fresh ETF hopes gaining momentum, the next few months could prove pivotal for the world’s most prominent payments-focused crypto asset.

FAQ

Why did XRP go up recently?

XRP gained momentum because Ripple decided to withdraw its cross-appeal in its long-running legal battle with the SEC. This move increased optimism that the SEC may also drop its appeal, potentially clearing the way for an XRP-spot ETF.

What happens if the SEC drops its appeal too?

If the SEC fully withdraws its appeal, the legal fight that started in 2020 would finally end. The ruling on XRP’s Programmatic Sales would stand, removing a big legal cloud and possibly opening doors for U.S.-listed XRP ETFs.

How long could it take for the SEC to decide?

Experts say the SEC’s process to vote on dropping its appeal could take about 1–2 months. If it happens quickly, traders expect August could bring big updates and affect XRP’s price.

Could an XRP ETF really happen?

Yes, many believe ending the lawsuit improves the chances for an XRP-spot ETF. Some ETFs have already launched in Canada, and a U.S. approval could attract large institutional flows.

What are the risks for XRP now?

If the SEC changes course and keeps its appeal, or if broader crypto sentiment turns negative, XRP could face sharp downside. Traders are watching for news on the SEC’s next steps and any new ETF developments.

What is the current price outlook for XRP?

If XRP stays above its key moving averages and breaks past recent resistance levels, analysts expect it could retest its May high near $2.65 and potentially aim for its all-time high above $3.50. But any negative SEC news could push it back toward $1.50 or lower.