- SEC and Ripple settlement could unlock XRP-spot ETF approval, redrawing US crypto investment landscape.
- A judge’s decision to lift XRP’s institutional sales ban may mark a turning point in Ripple’s legal battle.
- Ripple and the SEC face a June 16 deadline to settle, with major implications for crypto regulation and XRP-spot ETFs.
- SEC will withdraw its appeal against the Programmatic Sales of XRP ruling.
- Ripple would pull its cross-appeal.
- SEC may review and approve pending XRP-spot ETF applications.
The SEC and Ripple jointly filed a motion to pause the appeal on April 10, citing the prospect of a settlement. Both parties have until June 16 to finalize terms, which could result in the SEC withdrawing its appeal. A successful resolution could signal SEC openness to expanding the crypto ETF market to include XRP.
Pro-crypto lawyer Bill Morgan highlighted a potential link between the case timeline and XRP-spot ETF decisions, noting:
XRP slipped 0.14% on Friday, May 2, partially reversing Thursday’s 0.95% gain to close at $2.2097. The token underperformed the broader crypto market, which climbed 0.29%, taking the total crypto market cap to $2.97 trillion. A lack of developments in the Ripple case left XRP trailing the broader market.
XRP’s drop failed to impact bitcoin (BTC) demand on May 2 as trade developments and US economic data boosted demand for risk assets.
The US Jobs Report signaled a resilient labor market, with the unemployment rate and wage growth steady while nonfarm payrolls jumped by 177k in April. BTC rallied to a post-Jobs Report high of $97,997, its highest since February 21.
Meanwhile, easing US-China trade tensions bolstered the appetite for risk assets. The Nasdaq Composite Index ended Friday up 1.51% on the news that China may resume trade talks with the US.
Julio Moreno, Head of Research at CryptoQuant, shared BTC’s Bull Score Index Chart, stating:
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