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SEC's Ripple Settlement Sparks Speculation on BlackRock's Next Move for XRP ETF

The long-anticipated conclusion of Ripple Labs' lawsuit with the SEC has sent shockwaves through the cryptocurrency market.

In a landmark decision, both parties agreed to drop their appeals, solidifying Judge Analisa Torres's 2023 ruling and igniting optimism for XRP's future.

Market experts are now speculating whether BlackRock, the world's largest asset manager, will seize this opportunity to file for an iShares XRP ETF.

Nate Geraci, president of The ETF Store, indicated that BlackRock might have been waiting for this legal resolution before making a move into XRP investment products.

Given their successful Spot Bitcoin and Ethereum ETFs, an XRP ETF seems like a logical next step for BlackRock to diversify its crypto offerings.

Currently, probabilities of XRP ETF approval sit at approximately 76%, although some analysts caution that BlackRock may prioritize its existing products at this time.

Ripple's recent legal victory has not only boosted market sentiment but also positioned the firm for greater opportunities to attract institutional investment.

XRP's price has already reacted positively, increasing from $3.04 to $3.36 following the settlement news.

As Ripple continues to expand its On-Demand Liquidity services, the focus will be on enhancing real-world applications for XRP while navigating the new regulatory landscape.

The implications of this settlement for XRP and potential BlackRock initiatives could be a game-changer in the evolving crypto market.