BlackRock XRP ETF Is Inevitable, Says Experts After Ripple Lawsuit Win

On August 7, Ripple and the U.S. Securities and Exchange Commission (SEC) made a move to end the XRP lawsuit after four years of legal battle. Nate Geraci, ETF Store President, stated that a BlackRock XRP ETF is inevitable, now that the regulatory pathway is clear.

He added that following the success of its BTC and ETH, there’s no reason for BlackRock to hold back on an XRP exchange-traded fund (ETF).

Speculations Grow Over BlackRock XRP ETF Filing

Amid the Ripple lawsuit victory and rising demand for crypto ETFs, speculation is rising that BlackRock may soon file for an iShares XRP ETF. Nate Geraci, the President of ETF Store that BlackRock may have been waiting for recent regulatory clarity before moving forward.

“I’ll own it if I’m wrong,” the post read.

He also argued that it would make zero sense for BlackRock to ignore crypto assets beyond Bitcoin and Ethereum. “Otherwise, they’re basically saying BTC and ETH are the only ones that will ever have value; that’s a bold position,” added Geraci.

Although Geraci is a notable personality in the crypto ETF space, Bloomberg ETF strategist Eric Balchunas stated that he doesn’t think that BlackRock will make a move for the XRP ETF.

“I just think they are happy with the two. Law of diminish returns from here on out. But again, I’ve nothing to go on but my own spidey sense here,” added Balchunas.

Leaving the discussion open-ended, Geraci stated that if BlackRock files for a crypto-index ETF, what will it include in that?

XRP ETF Odds Improve by 16%

As per the Polymarket data, the odds of spot XRP ETF approval before the year-end stand at 87% as of press time. This is a sharp 16% surge from the previous day after SEC commissioner Caroline Crenshaw denied support to crypto ETFs.

Earlier this week, on August 6, the US SEC held 13 internal votes concerning several crypto exchange-traded products (ETPs), including BlackRock’s IBIT, Bitwise’s Bitcoin and Ethereum funds, GBTC, and BITB. Each measure was approved by a 3-1 vote, with Commissioner Caroline Crenshaw casting the sole dissenting vote in all cases.

However, according to Eric Balchunas, this wouldn’t make much of a difference. In his message on the X platform, Balchunas wrote:

However, following the Ripple lawsuit settlement on Thursday, the approval odds have surged once again. Furthermore, XRP price also rallied all the way to $3.5, showing strong bullish sentiment among traders.

XRP Price Rallies, Will $4 Come Soon?

Following the Ripple lawsuit development, XRP price has surged over 15% in a strong upside. However, it continues to face rejection at the $3.5 resistance.

The daily trading volumes have surged 155% moving to $11.46 billion, hinting strong investor sentiment. Also, the XRP futures open interest has surged 17% to $8.82 billion, showing bullish trader sentiment and expectations of a future rise.

Crypto analyst Javon Marks has suggested that XRP’s price rally appears to be well underway, with the token potentially heading toward the $4.80 level. In a recent post, Marks noted that if XRP breaks above this threshold, it could extend gains further and possibly reach or exceed $7.

Upon the approval of XRP ETF, some market analysts also believe XRP price could rally into double-digits to $10 and beyond.