XRP reached its strongest level in nearly two months on Monday, May 12, briefly climbing to $2.48 before settling near the $2.40 range, which now appears to act as short-term support. The surge was largely driven by speculation that BlackRock may be planning to file for a spot XRP ETF—an event that could reshape market expectations and increase demand for Ripple’s token. The token gained 5.44% as optimism grew around potential institutional backing and a favorable outcome in the ongoing legal case.
BlackRock XRP ETF Buzz Sparks Market Hopes
A post circulating in the crypto community stirred speculation over the weekend, claiming that BlackRock had engaged in conversations with the SEC about broadening its lineup of crypto ETFs. Though no official filing for an XRP spot ETF has been announced, the rumor quickly sparked buzz among market watchers. The message, which boldly declared “BlackRock XRP ETF is coming soon,” fueled hopes that the regulatory environment might warm to crypto-linked investment vehicles.
BlackRock has remained silent on the circulating chatter, but its track record speaks volumes. With its iShares Bitcoin Trust (IBIT) already drawing over $44 billion in inflows, some observers see this as a possible signal that the firm is strategically positioning itself for further involvement in crypto markets—XRP included.
XRP Surges Over Weekend, Eyes $2.50 Resistance
XRP made a strong move over the weekend, standing out with one of the biggest gains among major cryptocurrencies. It ended the day close to $2.41, showing that buyers are still in control. If the price can break past $2.50, it could climb toward $2.75 or higher.
TradingView said XRP jumped from $1.68 to $2.41 in just 24 hours—a gain of about $0.73. While the overall market helped push prices up, XRP’s rise was especially noticeable. Interest in the token is growing, with more people talking about it online and trading activity picking up, suggesting that traders are paying close attention to what happens next.
SEC Settlement Could End Long-Running Case
A major reason for XRP’s recent rise is the possible end of Ripple’s ongoing lawsuit. The SEC has reportedly filed a settlement request with the court, asking to remove the ban on Ripple’s institutional XRP sales. The SEC also hinted at lowering Ripple’s $125 million penalty, which could lead both sides to drop their appeals.
If the settlement is approved, it could bring an end to one of the most important legal battles in the cryptocurrency world. Ripple has argued for some time that XRP is not a security, and if the court rules in its favor, it could allow more institutional investors to get involved in XRP.
Final Thoughts
XRP’s strong performance over the weekend was driven by a few key factors, including rumors that BlackRock might soon file for an XRP spot ETF and growing hopes that Ripple’s lawsuit with the SEC could come to an end. With the price reaching close to $2.50, more investors are starting to take notice.
If Ripple and the SEC reach a settlement, it could open the door for more institutional investors to get involved with XRP. As the legal case moves forward and market excitement builds, XRP’s future looks like it could see more ups and downs, making it a token to keep an eye on in the weeks ahead.
