#XRP News Today: Court Clock Ticks—Appeal Vote Could Make or Break XRP Rally

Key Points:

XRP falls below $3 as SEC remains silent on appeal ahead of the crucial August 15 court deadline.

Ripple case outcome may determine launch potential of BlackRock’s iShares XRP-spot ETF.

Notably, the SEC’s silence has impacted XRP demand in recent weeks, declining in the last three Friday sessions, coincidentally, the day following each of the closed meetings.

The next closed meeting is slated for August 7. Significantly, the SEC has two meetings remaining before an August 15 court deadline. The SEC must submit a progress report on the Ripple case settlement. Given Judge Torres’ ruling, investors expect the agency to drop its appeal by this date and for Ripple to withdraw its cross-appeal.

Despite optimism, the SEC may still pursue the appeal. Investor concerns about the SEC’s plans may intensify as the August 15 filing data nears. However, the SEC is known for last-minute filings, which may ease fears about any intent to extend the case.

An appeal withdrawal could be a crucial step toward an XRP-spot ETF market, the next likely price catalyst. Notably, an SEC appeal withdrawal could raise expectations for BlackRock to file for an iShares XRP Trust. BlackRock’s BTC and ETH-spot ETFs have been pivotal to the success of the crypto-spot ETF market.

ETF Store President Nate Geraci remarked:

“Sticking w/ prediction that BlackRock will launch both xrp & sol ETFs…Doesn’t make sense that world’s largest asset manager (& current leader in both spot btc & eth ETFs) would ignore two top 5 non-stablecoin crypto assets.”