After a five-year legal battle with the SEC, XRP takes a significant step forward.
A significant step forward, including joining an organized trading ETF in the United States. Recent developments represent a critical turning point for both Ripple and the digital asset.
End of 5 years of struggle with the SEC
Last month, Ripple confirmed its withdrawal of its mutual appeal in the SEC case. The legal dispute, which began in 2020, focuses on whether XRP was offered as unregistered securities. The recent withdrawal confirms the end of one of the most prominent cryptocurrency cases in the United States.
Related topics: SEC vs. Ripple: How is this settlement process progressing?
Brad Garlinghouse, the CEO of Ripple, shared on social media that the company is now focusing on what matters most, which includes building the Internet of Value.
In his commentary on the latest ruling by Judge Torres, Stuart Alderoty, Chief Legal Officer, confirmed that the legal status of XRP remains unchanged. Notably, XRP received regulatory clarification from the court in 2023, and the SEC did not challenge this ruling.
XRP joins an organized spot trading exchange fund
While legal proceedings are slow, XRP is making progress on another front. On July 1, the SEC approved the application to convert its large-cap digital asset fund (GDLC) into a spot trading ETF. The fund holds Bitcoin (80.4%), Ethereum (11.15%), XRP (4.8%), Solana, and Cardano.
The ETF is now listed on the NYSE Arca and manages assets worth nearly $755 million. This is the first time XRP has been directly listed in an organized spot trading ETF, representing a significant achievement for this asset and broader acceptance in institutional finance.
Price action shows limited reaction
Despite positive legal and institutional developments, market reaction to XRP remains limited. The currency briefly rose to $2.30 following Ripple's withdrawal from the appeal, but quickly retraced to trade near $2.22.
Technical indicators show XRP trading within a symmetrical triangle pattern for several months. Major resistance remains between $2.30 and $2.35, an area that has caused repeated rejections. XRP needs to break through the resistance area between $2.26 and $2.28 to push towards $2.34 or $2.40. Closing below $2.20 could lead to declines towards $2.06 or lower.
What is the future of XRP?
While Ripple's lawsuit against the U.S. Securities and Exchange Commission (SEC) is nearing its conclusion, the future of XRP may depend more on market structure and institutional adoption than legal outcomes. The SEC is currently reviewing nearly 10 spot ETF applications for XRP from major companies like Grayscale and Franklin Templeton.
Related: Ripple's legal exit triggers a sharp rise in XRP's price, but will it maintain its gains?
Given that XRP is in the newly approved GDLC ETF, analysts believe that the approval of the independent XRP ETF is a matter of time. The SEC's deadline for approval is the fourth quarter of October 2025.