SEC Court filings essential to the XRP Spot ETF market
In light of Judge Torres’ ruling, investors are now looking forward to the SEC’s second settlement letter, which is set to tackle the points raised by the court. This includes a request for indicators under Rule 60, as well as lifting an injunction and the assertion that lowering fines could benefit institutional investors and the general public.
The outcome of Ripple cases is crucial for the approval of several XRP spot ETF applications. Some of these ETFs are facing an interim deadline just a week away. Following the court’s decision on Thursday, there’s a chance for an unexpected approval. Investors hope the SEC will postpone the decision, though XRP may still endure some sales pressure.
On the flip side, the SEC’s stance might be challenged if they manage to convincingly argue for lifting the injunction and reducing penalties. John E. Deaton, a lawyer for Amicas Curiae, recently pointed out weaknesses in the SEC’s position, suggesting that XRP should be recognized publicly as a product rather than a security.
Such acknowledgments are significant not only for XRP but also for the wider crypto market. They might influence Judge Torres and reflect slow shifts in the agency’s stance after years of legal struggle.
Market bets and outlooks
Even with the ruling from Thursday, the chances of approval for the XRP Spot ETF appear to be on the rise. According to Polymarket, by December 2025, the approval likelihood is estimated at 83%, a jump from 68% on April 22nd and up from 87% in March.
XRP Price Outlook: Legal Moves and ETF Focus Progress
The immediate trajectory for XRP seems to hinge on developments related to the Ripple Case and news surrounding the Spot ETF.
