Invoice Morgan, a famend pro-crypto lawyer, has supplied essential perception into the delay within the U.S. Securities and Trade Fee (SEC) resolution on XRP and crypto ETF filings. Notably, the SEC has shifted the choice date on the Franklin Templeton-linked spot XRP exchange-traded fund (ETF) to June 17, 2025.
SEC’s timing raises strategic issues
Morgan, in a post on X, famous that this new date coincides with the deadline for a standing report within the SEC v. Ripple attraction case. He means that the timing might be odd or probably strategic.
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Jose Cabranes, a New York Circuit choose, had on April 16 ordered that the SEC file a standing report on the Ripple lawsuit attraction inside 60 days. This units the deadline to round June 15, two days earlier than it decides on the Franklin Templeton submitting.
In line with Morgan, this timing would possibly recommend that the regulatory physique desires to see how the Ripple attraction unfolds earlier than deciding on the XRP ETF. The SEC is probably going shopping for time earlier than deciding on the pending purposes.
Though the SEC has a new pro-crypto chair, Paul Atkins, the group is eager to see how this Ripple lawsuit ends. A positive ending may present a precedent and authorized readability to XRP and the broader cryptocurrency trade.
Might Ripple lawsuit consequence form ETF panorama?
The crypto group and XRP holders, specifically, stay up for having the lawsuit settled. Many imagine the lingering attraction is limiting XRP’s potential to develop like its friends. They suppose that XRP ETF approval will additional strengthen adoption, which may impression the worth.
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For example, when Brad Garlinghouse, Ripple Labs’ CEO, introduced that the SEC would drop its case in March, the market reacted positively. XRP noticed its price spike by about 14% to $2.59 as traders flocked to amass the coin.
As of press time, XRP was changing fingers at $2.19, representing a 3.56% decline within the final 24 hours. Nevertheless, the buying and selling quantity has recorded a slight uptick value 2.10% to $3.04 billion as market contributors anticipate a rally.
