Main Points:
XRP Soars on Hopes of ETF Approval and Settlement of Ripple’s SEC Case Before June 16-17 Court Deadlines
The approval of the NCISU index sparks optimism that numerous crypto ETFs, including XRP, could be next.
A second request from the SEC for an indicative ruling could lead to a settlement and end Ripple’s legal battle.
Ripple vs. SEC: Speculation on XRP Spot ETF Intensifies Ahead of Key Court Date
Market speculation about the SEC’s possible approval of an XRP spot ETF in the United States pushed XRP to a June 2025 high on Sunday, June 8. The reported approval of the Nasdaq Crypto US Settlement Price Index (NCISU), which includes ADA, SOL, XLM, and XRP, has increased expectations for the imminent approval of an XRP spot ETF.
Crypto commentator MartyP commented on the NCISU approval, speculating that multiple crypto ETFs could be approved in the coming weeks. In particular, Franklin Templeton’s XRP spot ETF application, the Franklin XRP Fund, has a June 17 midterm deadline. June 17 is the day after the U.S. Court of Appeals has set a deadline for the SEC to file a report on its progress toward a settlement in the Ripple case.
With the Court of Appeals’ June 16 deadline fast approaching, the SEC may file a second request for an indicative ruling on the proposed settlement this week. Judge Analisa Torres denied the first request, citing procedural errors and insufficient arguments that a settlement would serve institutional investors and the public. The terms of the settlement include lifting the injunction on the sale of XRP to institutional investors and reducing the $125 million fine.
A favorable indicative decision, if obtained on the second attempt, would allow Ripple and the SEC to seek dismissal of the cross-appeal and appeal, thereby closing the case.
XRP Price Prediction: Legal Practices and ETF News $XRP
XRP rose 4.11% on Sunday, June 8, following a 0.76% gain on Saturday, closing at $2.2682. Notably, the token outperformed the broader market, which rose 0.23%, bringing the total crypto market cap to $3.26 trillion.
The short-term XRP price forecast depends on developments in the Ripple case and spot ETF news.
A breakout above $2.30 could open the way for a retest of $2.5 and the May 12 high of $2.6553. A sustained move above $2.6553 could lead to $3 and eventually a record high of $3.5505. Conversely, a breakout below the 50-day EMA could expose XRP to the 200-day EMA and the support level of $1.9299.
What to Observe
Investors should monitor Ripple news, US cryptocurrency regulatory developments, US inflation data, and spot ETF flows. These factors will continue to influence sentiment around XRP and BTC, determining whether the tokens will rebound to recent highs.
