XRP Surges to 7-Week High Amid BlackRock ETF Speculation

XRP jumped 5.44% to a seven-week high of $2.47 on May 10 amid speculation that BlackRock might file for an XRP spot ETF and hopes of a favorable SEC settlement in the Ripple case. A letter shared by a crypto enthusiast suggested ongoing talks between BlackRock and the SEC, though BlackRock has not confirmed any XRP ETF plans. Meanwhile, the SEC has requested a reduced penalty and lifting of restrictions on XRP institutional sales, potentially ending its legal battle with Ripple and paving the way for ETF approval. Market sentiment remains bullish but sensitive to legal and regulatory developments.

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