XRP Surges to Seven-Week High Amid BlackRock ETF Speculation
A Significant Market Shift
On Saturday, May 10, 2025, XRP experienced a notable increase of 5.44%, closing at a seven-week high of $2.4712. This surge in value followed growing speculation regarding BlackRock’s potential filing for an XRP spot Exchange-Traded Fund (ETF). Such news has sparked optimism within the cryptocurrency market, igniting a renewed interest in XRP’s trading potential.
BlackRock’s Involvement
In a letter shared by crypto enthusiast Amelie, BlackRock confirmed a meeting with the U.S. Securities and Exchange Commission (SEC) to discuss ETF approval standards. The discussions included key factors for approving crypto Exchange-Traded Products (ETPs) under Section 6(b) of the Exchange Act, as well as possible interim frameworks that would govern ETP issuer activities. This speculation about a BlackRock XRP ETF has brightened sentiment among investors, indicating possible future demand.
SEC Sentiment Change
Eleanor Terrett, a host on Crypto America, highlighted how active engagement between BlackRock and the SEC has marked a significant shift in regulatory attitudes toward cryptocurrencies. Reporting on the second meeting held on the same day, Terrett cited that this marked the 99th meeting between the Crypto Task Force and industry participants—a stark contrast to the regulatory climate experienced over the last four years.
Legal Uncertainties and Market Reactions
Despite the buoyed speculation, BlackRock has not released any formal plans regarding an XRP spot ETF since dismissing a false iShares XRP-spot ETF filing back in November 2023. This misleading information previously provoked a volatile pump-and-dump rally, which led BlackRock to hesitate in pursuing ETF strategies amidst ongoing legal battles surrounding XRP.
Meanwhile, BlackRock’s existing iShares Bitcoin Trust (IBIT) has enjoyed substantial inflows of approximately $44.7 billion since its launch in January 2024, far outpacing the Fidelity Wise Origin Bitcoin Fund’s $11.7 billion. This contrast in demand reflects both consumer preferences and the potential appetite for an XRP-focused ETF as additional regulatory clarity emerges.
Implications of Settlement Talks
Recent developments in XRP’s ongoing litigation with the SEC could catalyze further price movements. The SEC filed a settlement letter requesting Judge Analisa Torres to lift the injunction that prohibits XRP sales to institutional investors and to reduce a $125 million penalty. If granted, the court’s decision could conclude lengthy legal proceedings and open the door for advancing ETF discussions and applications.
Current betting markets like Polymarket place the approval odds of an XRP spot ETF by December 2025 at 77%, despite fluctuations from previous months, suggesting cautious optimism as the situation unfolds.
Future Price Outlook
The trajectory of XRP in the near term appears to hinge on Judge Torres’ ruling and any ensuing actions taken by the SEC. Analysts suggest that if the SEC drops its appeal, XRP may aim for its all-time high of $3.5505, with potential ETF approval propelling values toward $5. Conversely, should the court reject the SEC’s settlement proposal and the agency pursue its appeal, XRP could decline toward a support level of $1.50. Currently, XRP’s 14-day Relative Strength Index (RSI) is positioned at 63.30, indicating that further increases are feasible before reaching overbought conditions.
Broader Market Dynamics
As XRP continues to navigate through these legal and regulatory hurdles, it remains sensitive to external market catalysts. Previous booms in price have echoed reactions to favorable developments regarding the Ripple case, as well as broader governmental support for cryptocurrency.
Looking ahead, the future performance of XRP will likely depend on major indicators, including regulatory clarity, shifting SEC policies, and any further movements in ETF applications.
Stay tuned for ongoing updates regarding XRP’s price forecasts and critical SEC deadlines as the market evolves.
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