XRP News Today: XRP ETF Buzz Builds Without BlackRock; BTC-Spot ETF Inflows Resume

SEC Official Appeal Withdrawal: Will There Be Final Twist in the SEC vs. Ripple Saga?

On March 19, Ripple CEO Brad Garlinghouse stated that the SEC intended to withdraw its appeal against the Programmatic Sales of XRP ruling. However, the SEC has not formally confirmed the withdrawal or filed a joint stipulation with Ripple to dismiss the appeal.

If precedent is a guide, investors may have to wait until after the next Closed Meeting, set for March 27, for a formal announcement. On February 21, Coinbase (COIN) CEO Brian Armstrong declared an end to the SEC’s enforcement case against the exchange. The SEC formally announced the dismissal on February 27 after a Closed Meeting.

Acting SEC Chair Mark Uyeda, Crypto Task Force Head Hester Peirce, and Commissioner Caroline Crenshaw must vote on an appeal withdrawal. The upcoming Closed Meeting provides an opportunity for a vote. Although unlikely, XRP could face selling pressure if the SEC makes no formal announcement on March 27.

XRP-Spot ETFs: BlackRock Missing from the Pack

An official court filing confirming the withdrawal would open the path for XRP-spot ETF approvals. Currently, issuers such as 21Shares, Bitwise Invest, Canary Funds, Grayscale, and WisdomTree have filed applications for XRP-spot ETFs.

While an XRP-spot ETF market could fuel institutional demand for XRP, BlackRock (BLK) remains notably absent. In the US BTC-spot ETF market, BlackRock’s iShares Bitcoin Trust (IBIT) has reported total net inflows of $39,669 million since launch, offsetting $22,526 million in outflows from Grayscale’s Bitcoin Trust (GBTC).

Importantly, without IBIT’s inflows, the US BTC-spot ETF market would have posted net outflows of $3.6 billion—potentially weighing on Bitcoin demand. This underscores the influence BlackRock could have on an emerging XRP-spot ETF market.

Institutional demand for XRP-spot ETFs will likely be crucial as it has for BTC, which rallied in early 2024 on strong ETF inflows.

A BlackRock filing for an XRP-spot ETF could change the narrative. It is plausible that BlackRock will file once the SEC formally dismisses its appeal.

On March 14, ETF Store President Nate Geraci speculated about a BlackRock XRP-spot ETF filing, stating:

“I’m ready to log formal prediction… BlackRock will file for ‘both’ Solana and XRP ETFs. Solana could be any day. Think XRP once SEC lawsuit concluded.”

XRP Price Outlook: Cross-Appeal and ETFs in Focus

On Friday, March 21, XRP fell 2.27%, following Thursday’s 4.43% slide, closing at $2.3800. XRP underperformed the broader market, which declined by 0.44% to a total crypto market cap of $2.71 trillion.

Key factors influencing XRP’s price outlook:

• Ripple Cross-Appeal Strategy: a settlement could push XRP above $3.55, while continued uncertainty may drag it below $2.
• XRP-Spot ETF Prospects: An ETF approval could send XRP toward $5, but regulatory delays could stall momentum.
• Macro Risks: Rising trade tensions and US recession fears could drag XRP to its February low of $1.7938. Conversely, easing tensions and a resilient US economy could drive XRP toward $3.

Read expert analysis on what could drive XRP to new highs here.

Bitcoin Steadies as ETF Inflows Bolster Demand

XRP’s decline coincided with another bitcoin (BTC) dip on March 20. Despite the pullback, BTC continues to avoid sub-$80k levels, last breached following President Trump’s Executive Order in March to establish a Strategic Bitcoin Reserve (SBR).

Notably, institutional demand for BTC-spot ETF has returned, tilting BTC’s supply-demand balance in its favor. According to Farside Investors:

• The US BTC-spot ETF market reported net inflows of $165.7 million on March 20, extending its inflow streak to five sessions, the longest since January 2025.
• IBIT has seen net inflows of $336.3 million.
• Still, March has seen total net outflows of $922.9 million across all issuers.

The next significant catalyst may be the Bitcoin Act. Legislation allowing the US government to acquire BTC as an SBR could fuel BTC demand.

Senator Cynthia Lummis reintroduced the Bitcoin Act on March 11. If passed, the bill would authorize the US government to acquire one million BTC over five years, with a 20-year mandatory holding period.

Bitcoin Price Scenarios: Key Levels to Watch

On March 21, BTC slipped by 0.20%, following Thursday’s 3.06% drop, closing at $84,052.

Potential BTC price scenarios:

• A bearish path—triggered by renewed trade tensions, recession fears, political opposition to the Bitcoin Act, and ETF outflows—could send BTC toward $70,000.
• A bullish path—driven by economic resilience, easing geopolitical risks, Bitcoin Act momentum, and extended ETF inflows—may lift BTC toward $109,312.

Market Outlook: Key Drivers

Several macroeconomic and regulatory factors will influence the crypto landscape in the near term:

• Ripple Cross Appeal or Settlement: A resolution may trigger a market-wide rally.
• US Tariff Policy: Rising tariffs may force the Federal Reserve to take a more hawkish stance, increasing recession risks.
• Strategic BTC Reserve: Bitcoin legislation, if passed, could deepen institutional interest and accelerate institutional BTC adoption.
• BTC-Spot ETF Flows: ETF flows continue to serve as a barometer for market sentiment

While the SEC’s de-escalation may alleviate immediate concerns, long-term investor confidence will depend on broader regulatory clarity in the United States.

Stay updated with our latest insights here.