The ETF Store President anticipates greenlight for spot XRP ETF as Ripple drops its cross-appeal

Nate Geraci, president of the U.S.-based wealth management firm The ETF Store, stated on X that Ripple is ending its cross-appeal in the ongoing legal dispute with the U.S. Securities and Exchange Commission (SEC), which could advance the approval of a spot XRP ETF. "Also Ripple is way for BlackRock to jump in," Geraci added. Earlier this year, the SEC proposed lowering the financial penalty to $50 million and requested the removal of the injunction on Ripple's institutional XRP sales as part of a proposed settlement. However, the court rejected the joint effort to conclude the case.