XRP Surges Nearly 7% on ETF Momentum and Legal Developments; Bitcoin Hits $105K Amid Ceasefire Hopes
By Bob Mason | Published June 24, 2025
XRP saw a notable rally of 6.9% on Monday, June 23, buoyed by growing optimism surrounding exchange-traded funds (ETFs) tied to the digital asset and a pivotal court ruling expected in the ongoing Ripple versus U.S. Securities and Exchange Commission (SEC) case. This price surge outpaced the broader cryptocurrency market’s 4.9% gain, lifting XRP’s price to $2.16. ### Canadian XRP-Spot ETF Attracts Strong Demand
The momentum behind XRP was fueled in significant part by the successful launch of the first North American XRP-spot ETF by 3iQ, traded on the Toronto Stock Exchange as XRPQ. Within just three days of trading, the fund amassed approximately C$32 million in assets under management, making it Canada’s largest XRP-focused ETF.
Pascal St-Jean, 3iQ’s President and CEO, highlighted the rapid uptake: “Our XRP ETF’s impressive success shortly after launch underscores the benefits we offer to both retail and institutional investors seeking exposure to digital assets.” The early investor enthusiasm notably mirrors the strong reception experienced by 3iQ’s Solana Staking ETF upon its debut.
The robust demand for XRP ETFs in Canada has reignited excitement about the prospects for a similar ETF product approval in the United States, which remains a crucial catalyst for XRP’s price trajectory.
Ripple-SEC Settlement and U.S. ETF Approval in the Spotlight
All eyes are on U.S. District Judge Analisa Torres as she considers a joint motion filed by Ripple and the SEC to settle their multi-year litigation. The proposed settlement entails lifting injunctions that currently restrict XRP sales to institutional investors and reducing Ripple’s penalty to $50 million. In exchange, Ripple would drop its cross-appeal, and the SEC would withdraw its appeal concerning programmatic sales of XRP.
If Judge Torres approves the settlement, it could unlock the door to US regulatory approval of XRP-spot ETFs, which institutional investors have eagerly awaited. An approval of the settlement would reinforce XRP’s classification as a non-security in secondary market sales, easing ongoing regulatory uncertainties.
However, market predictions remain cautious. Polymarket currently estimates a 74% probability of approval, a marked decline from a peak of over 98% earlier this month. This skepticism stems from Judge Torres’ prior May ruling that rejected an earlier settlement attempt due to procedural issues and concerns over public interest benefits.
Should the settlement be denied again, Ripple and the SEC may resume appeals, raising risks of XRP delisting and ETF application rejections, factors that could negatively impact XRP demand and price.
Technical Outlook for XRP
Following its rebound, XRP now eyes a move beyond the 50-day Exponential Moving Average (EMA). Surpassing the recent June 16 high of approximately $2.34 could pave the way to retesting May’s peak near $2.66. Conversely, a fall below the 200-day EMA might threaten support near $1.93, potentially weighing on price momentum.
Bitcoin Climbs to $105K on Middle East Ceasefire and ETF Inflows
Meanwhile, Bitcoin (BTC) benefited from encouraging geopolitical developments as President Trump announced a ceasefire agreement between Israel and Iran, a move that calmed market anxieties surrounding Middle East tensions.
The ceasefire led to a plunge in crude oil prices, with WTI crude falling over 9% to close at $66.77 per barrel. Eased inflation concerns and prospects for central bank rate cuts boosted investor appetite for risk assets, including cryptocurrencies.
BTC rallied 4.4% on June 23 to close above $105,000. Inflows into U.S.-based BTC-spot ETFs were also robust, with the Fidelity Wise Origin Bitcoin Fund seeing net inflows exceeding $105 million on the day. Other notable inflows included Bitwise’s Bitcoin ETF (+$14.6 million) and Grayscale Bitcoin Mini Trust (+$10.1 million). These strong institutional flows contributed to Bitcoin’s sustained price strength, with the sector potentially extending its ETF inflow streak to ten consecutive sessions.
Factors to Watch
Investors should closely monitor ongoing developments in the Ripple case, Judge Torres’ pending ruling, the geopolitical climate in the Middle East, and ETF flow trends. Additionally, trade and tariff headlines may significantly influence near-term price action in both XRP and BTC.
XRP’s trajectory hinges on resolving regulatory uncertainties and ETF approvals, while Bitcoin’s path depends on geopolitical stability and the continuation of robust institutional demand.
About the Author
Bob Mason brings over 28 years of experience covering global financial markets, with expertise spanning currencies, commodities, alternative assets, and equities, focusing on European and Asian markets.
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