XRP News Today: Will BlackRock Launch an XRP ETF? Legal Issues Remain; BTC Eyes $90k

XRP-Spot ETF Buzz Builds: Will BlackRock Wait for Legal Clarity Before Joining the Race?

Speculation about a potential XRP-spot ETF market has intensified, boosting XRP demand as developments in the SEC vs. Ripple case continue. While ETF issuers like 21Shares, Bitwise, Canary Funds, Franklin Templeton, Grayscale, and WisdomTree have filed XRP-spot ETF applications, BlackRock (BLK) has yet to do so.

Commenting on BlackRock’s dominance in the BTC and ETH ETF markets, XRP investor All Things Crypto noted:

“Their iShares Bitcoin Trust hit $30B in AUM. The ETH ETF crossed $1B in just 60 days. Why add risk when you’re dominating the two most proven crypto assets?”

The investor noted that despite Ripple’s partial legal victory, lingering concerns remain for institutions:

“Yes, the SEC lawsuit is behind Ripple now. But for institutions like BlackRock, the label ‘security’ doesn’t fade fast—especially when the SEC case isn’t officially over. BlackRock’s ETF execs have made it clear: Bitcoin and Ethereum are the only ones that check their boxes for demand, liquidity, and legal clarity. XRP is close – but not quite there yet.”

He concluded by emphasizing timing:

“They’ll move when the odds are stacked in their favor. Every ETF launch is about timing. BlackRock is waiting for the moment XRP hits regulatory and market clarity-and their competitors show proof of success.”

The focus on BlackRock highlights the potential price impact of an iShares XRP Trust filing. The SEC and Ripple filed a motion to hold the appeal in abeyance based on the two parties’ agreement to settle. A settlement, including vacating Judge Analisa Torres’ final judgment prohibiting XRP sales to institutional investors, would enable the SEC to formally withdraw its appeal.

Long-awaited legal clarity could boost institutional demand and strengthen the case for an XRP-spot ETF.

XRP Outlook: Legal Headwinds and ETF Hopes

XRP fell 0.43% on Sunday, April 20, partially reversing Saturday’s 1.25% gain to close at $2.0773. The token tracked the broader crypto market, which dropped 0.13% to a total crypto market cap of $2.65 trillion.

While ending the week down 1.95%, XRP avoided a drop below $2 on optimism about a possible SEC appeal withdrawal.

Short-term XRP price drivers include legal and market catalysts:

• A finalized settlement in the SEC case could propel XRP toward its $3.5505 all-time high.
• Progress on spot ETF approvals may attract institutional capital, while delays could weigh on sentiment.
• Broader market factors also remain relevant—hawkish Fed signals or geopolitical risk may pressure XRP toward $1.70, whereas easing macro conditions could support gains toward $3.00.

See our full XRP forecast here.

Bitcoin Gains on Improving Demand Backdrop

While XRP trended lower, bitcoin (BTC) held firm above the crucial $85,000 handle. Investor sentiment improved on optimism that the US and China could restart trade talks, potentially easing tensions. However, the threat of an extended global trade war continues to boost demand for safe-haven assets like gold and potentially BTC.

Global instability has put BTC in the spotlight. Increased BTC demand amid global economic uncertainty may increase political support for the passing of the Bitcoin Act. Senator Cynthia Lummis reintroduced the Bitcoin Act, proposing the US government acquire one million BTC over five years, with a mandatory 20-year holding period.

Adding to the bullish sentiment, the US BTC-spot ETF market ended a two-week outflow streak last week. News of Charles Schwab planning to offer spot crypto trading further points to growing crypto adoption.

BTC Price Outlook: Key Drivers

On April 20, BTC rose 0.24%, building on Saturday’s 0.61% gain to close at $85,241.

In the near term, BTC price action will depend on macro and regulatory developments.

• Bearish Scenario: Tariff hikes, Fed hawkishness, ETF outflows, and stalled crypto legislation, potentially dragging BTC to $75,000.
• Bullish Scenario: A dovish Fed stance, easing trade tensions, bipartisan support for the Bitcoin Act, and ETF inflows could lift BTC toward $90,000.

What to Watch

Investors should monitor Ripple’s legal proceedings, US-China trade dynamics, Fed and central bank signals, macroeconomic indicators, and ETF flow trends. While a Ripple settlement may boost XRP demand, the broader market direction will likely hinge on global risk sentiment and regulatory clarity.

Explore what analysts believe is needed for cryptos to reach new highs.