Author: TSX Stocks

Ripple Labs and the US Securities and Exchange Commission (SEC) have jointly asked the Second Circuit Court to extend the suspension of the agency’s appeal.

According to a June 16 court filing, both parties are pushing to delay the appeal to avoid further litigation following their previous settlement.

This request follows an earlier effort to amend the final judgment in the case, which Judge Analisa Torres rejected. The court ruled the request lacked the “exceptional circumstances” needed to alter a final ruling.

In response, Ripple and the SEC submitted a revised motion to suspend the ongoing appeal. Notably, the SEC had filed the original appeal in October 2024, under then-Chair Gary Gensler, to challenge a court ruling that largely favored Ripple.

However, both sides reached a preliminary agreement in April 2025 and asked the court to suspend the appeal temporarily.

Although the court has yet to grant the extension, the SEC has pledged to submit a progress update by August.

Canada gets spot XRP ETF

While legal proceedings continue in the US, Canada is making history with the continent’s first approved spot XRP exchange-traded fund (ETF).

According to a press statement, Purpose Investments, a Toronto-based asset manager, will list the Purpose XRP ETF on June 18 under the XRPP ticker. Purpose was also the first issuer of a spot Bitcoin ETF in Canada.

The XRP-focused product will trade on the Toronto Stock Exchange and provide investors with regulated access to the digital asset.

According to the statement:

“The ETF will be available in CAD-hedged (ticker XRPP), CAD non-hedged (ticker XRPP.B), and US dollar (ticker XRPP.U) units, and will be eligible for holding in registered accounts such as TFSAs and RRSPs.”

This milestone comes as several US-based firms like Grayscale await the SEC’s decisions on their XRP ETF proposals.

Market observers believe that the chances of the SEC approving a spot XRP ETF are high this year. This is evidenced by crypto bettors on the decentralized marketplace Polymarket, who believe there is an 88% chance of approval.

These developments did not immediately impact the XRP price, up by a modest 1.4% to $2.22 as of press time, according to CryptoSlate’s data.

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While Ethereum, Solana, and XRP continue to benefit from these positive developments, ongoing geopolitical uncertainty and weakening global risk appetite continue to suppress prices. As a result, narrow-range price movements seen across the broader market are also reflected in these three altcoins.

Ethereum approached the $2,800 range last week, attempting to break out of the $2,430–$2,730 consolidation zone. However, with global market dynamics shifting rapidly, investor risk appetite remains low in the current environment of uncertainty. This is one of the key factors limiting upward momentum in the Ethereum market.

As a result, ETH saw profit-taking around $2,800 and dropped as low as $2,500. While the cryptocurrency has remained above $2,500 since the weekend, recent price action suggests that ETH’s support zone has shifted higher. However, since upside momentum has remained weak over the past month, a weekly close above $2,730 has become important for confirming a stronger uptrend. Although daily gains are being met with selling pressure, a sustained close above $2,730 could establish this level as new support and potentially mark the beginning of an upward trend.

In the current setup, ETH’s closest resistance is around $2,580. If daily closes hold above this level, we could see a move toward the major resistance zone around $2,700. A bullish signal from the Stochastic RSI is also expected above $2,580, as seen last week. If Ethereum breaks out with a weekly close above the consolidation zone, the price may quickly target the $3,000–$3,400 range.

While the general upward trend in Ethereum remains intact despite its current flatness, levels down to $2,430 continue to form a critical support area. A pullback below this level could trigger a broader decline toward $2,000.

Ripple and the SEC have entered a new phase in their years-long legal battle. A joint request by both parties to suspend the appeals process suggests that the case could progress rapidly and leaves the door open to a potential settlement.

This development can be viewed as a positive sign for resolving legal uncertainty—not only for Ripple but also for U.S.-based crypto projects more broadly. A conclusion to the XRP case could significantly impact the trajectory of crypto regulations in the U.S., keeping expectations high across the altcoin market, especially for XRP.

Resolving XRP’s legal hurdles could also drive an increase in institutional demand. In this context, XRP-based ETF efforts have recently gained momentum. Most notably, Canadian firm Purpose Investments announced it will list an XRP spot ETF on the Toronto Stock Exchange on June 18, offering both Canadian and U.S. dollar-based options—an important step for broader institutional acceptance.

As ETF developments continue to support XRP’s price, the token tested the $2.3 resistance level again yesterday, gaining 7% in value.

XRP, which pushed toward $2.65 last month, dropped to an average of $2.1 following a correction, forming an important support line at that level. Throughout June, price compression between $2.1–$2.3 has been observed, and this pattern could fuel new volatility in the coming days. Daily closes above $2.3 could create momentum toward the $2.5–$2.7 range. If demand continues to rise, the $3–$3.4 range may come into play.

On the downside, the $2–$2.1 range is the main support area for XRP. A move below this range could extend the downtrend that began at $2.65 in May and briefly paused in June. In a negative scenario, XRP could fall back toward the $1.65–$1.9 range.

After bouncing from the $100 zone in April, Solana staged a rapid recovery—rallying over 80% to reach $180. However, the cryptocurrency failed to break the $180 mark last month and declined to $142 during the correction.

Recent price action has made three levels critical for Solana. On the downside, $142 remains a key support. To the upside, $183 marks the upper limit of the consolidation band and serves as main resistance. The mid-point of this channel is around $165, which is now acting as intermediate resistance. SOL, which found support at $142 earlier this week, is currently testing $155—where short-term EMA values lie. Daily closes above this level could bring $165 into play, and if broken, $183 may be retested. A breakout beyond this range could open the path to $200, $230, and $260 as short- and medium-term targets.

If the $142 support fails, a drop toward $130 could follow. Should that level also break, Solana could retreat all the way back to the $100 region.

Among recent developments for Solana, ETF filings are particularly noteworthy. The cryptocurrency has reentered the radar of institutional investors thanks to spot ETF applications submitted to the SEC by Fidelity and CoinShares. Fidelity’s ETF proposal includes staking—a mechanism that would directly benefit Solana’s network economy.

CoinShares’ application is more conservative, but the firm’s successful Bitcoin and Ethereum products suggest that Solana could follow a similar path. Bloomberg analysts estimate a 90% probability of ETF approval, raising short-term expectations for institutional capital inflows. However, the SEC has the final say, and the market impact of these applications remains limited for now.

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Purpose Investments, an asset manager with over $24 billion in assets under management, has announced the launch of its Purpose XRP exchange-traded fund on June 18, 2025.

The Canada-regulated firm announced on Monday, June 16 that it had secured the final approval for its Purpose XRP ETF prospectus. With this approval Purpose can now unveil its Ripple (XRP) ETF for public trading on the Toronto Stock Exchange, a milestone that will see the asset manager launch the fund under the ticker XRPP. 

“The OSC’s granting of a receipt for the Purpose XRP ETF prospectus reinforces Canada’s global leadership in building a regulated digital asset ecosystem,” said Vlad Tasevski, chief innovation officer at Purpose Investments. 

According to the announcement, the spot XRP ETF will go live on the TSX on Wednesday, June 18, 2025.

The fund will offer direct exposure to spot XRP, with availability in Canadian dollars, CAD-hedged under the ticker XRPP and CAD non-hedged under XRPP.B. Investors can also access U.S. dollar units under the ticker XRPP.U.

Users will be able to hold the ETFs in registered accounts, including Tax-Free Savings Accounts and Registered Retirement Savings Plans, both widely used savings tools in Canada.

Purpose Investments’ announcement that its on the verge of launching the XRP ETF comes several months after the company filed its prospectus for approval. Launch on the Toronto Stock Exchange will add to the rollout of a spot XRP ETF in Brazil earlier in the year.

While these are notable milestones for altcoin-based ETFs, most of the anticipation remains focused on developments in the United States.

The U.S. Securities and Exchange Commission approved spot Bitcoin (BTC) and Ethereum (ETH) ETFs in 2024.

However, the regulator has yet to greenlight any other altcoin-related exchange-traded fund. In recent weeks, though, the agency has taken steps that suggest the likelihood of XRP, Solana, and Litecoin ETFs reaching the U.S. market in 2025 has significantly increased.

Asset manager Purpose Investments is set to launch a spot XRP

exchange-traded fund (ETF) in Canada this week after obtaining regulatory approval, giving investors a way to gain exposure to the fourth-largest cryptocurrency by market capitalization through traditional investment accounts.

The ETF will start trading on the Toronto Stock Exchange on Wednesday, June 18, under the XRPP ticker, according to a Monday press release. The move comes after the Ontario Securities Commission (OSC) granted final prospectus receipt for the investment vehicle, the company said.

XRP was up nearly 7% over the past 24 hours following the news, outperforming bitcoin

and the broad-market CoinDesk 20 Index.

“The OSC’s granting of a receipt for the Purpose XRP ETF prospectus reinforces Canada’s global leadership in building a regulated digital asset ecosystem,” Vlad Tasevski, chief innovation officer at Purpose Investments, said in a press release.

Purpose Investments in 2021 launched in Canada the world’s first spot bitcoin ETF, years before the vehicles’ approval in the U.S.

Read more: XRP Spot ETF in the U.S. Moves Closer to Reality