Key Takeaways
- Ripple and SEC settlement nears its end following appeal for status update ahead of August 15th.
- Canada’s OSC approves the first-ever XRP spot ETF, set for trading on June 18th.
- XRP’s price continues to struggle below $2.5, as it has been trading in a range for months with little bullish dominance.
Ripple (XRP), in the last few days, has gained strong volume in mindshare following two recent developments that have parked many reactions in the crypto space and the Ripple ecosystem regarding its legal battle and XRP spot ETF expected to start trading in Canada on June 18, which could boost its adoption despite the price of XRP struggling in the last few weeks.
Ripple vs U.S. SEC Legal Battle
Recent developments regarding Ripple vs. U.S. SEC (Securities and Exchange Commission), which has lasted for over 5 years now, suggest the case could be nearing its end following a filed status report requesting the appeal court to hold the appeal following the previous agreement by both parties to reach an agreement to resolve its long-standing legal battle.
Here are the recent developments and market reactions on X;
1. Ripple and the U.S. SEC have filed a second joint motion for an indicative ruling from U.S. District Judge Torres, which will allow them to modify the final judgment. This will be based on the following:
- Lifting of the Injunction prohibiting Ripple from selling its XRP to institutional investors.
- Reduction of its $125 million fine to $50 million, with the remaining $75 million returned to Ripple through an escrow.
2. The SEC was required to file a status report to the U.S. Court of Appeals stating XRP’s secondary sales are not securities. Failure to settle would allow Ripple to file an appeal advancing the SEC’s sales ruling.
3. Ripple has filed a letter seconding the SEC’s motion to keep the Appeal on hold, as its ongoing meeting to reach an agreement in principle is still ongoing, which will give the SEC more time to file a status update ahead of 15 August 2025, as agreed by both parties.
While the Ripple and SEC case may be nearing its end, the news that XRP spot ETF trading will be unveiled in Canada on June 18th has come as a huge boost for many investors, as this will bring much-needed adoption for XRP, despite its price struggling to show a strong rally to the upside.
Canada Approves First-ever XRP Spot ETF
Canada would be making history following approval from the Ontario Securities Commission (OSC), which would approve its first-ever spot XRP ETF in North America, providing investors with more opportunities to interact with XRP.
While this news has garnered significant attention in the last few hours, the price of XRP continues to struggle below the key resistance level of $2.5 as it trades within a range. The price of XRP must break above $3 with strong resistance before a possible bullish price rally toward a key high of $5, based on speculations.
Investors and traders will continue to pay attention to the price action of XRP despite receiving strong fundamental news; the price has remained within a range for months.
