Overview

• The U.S. Court of Appeals for the Second Circuit dismissed the parties’ appeals in SEC v. Ripple, shifting the case to district-court enforcement, according to defense lawyer James K. Filan.
• Asset managers including Franklin Templeton, WisdomTree, 21Shares, and Grayscale submitted amended spot‑XRP ETF applications following the legal development.
• XRP is consolidating near $3.00, with technicians watching a push above roughly $3.10 to $3.29 to revisit $3.50 to $3.84 and extend the advance.
• On-chain metrics show August settlement volume on the XRP Ledger up about 500%, while large holders accumulated roughly 250 million XRP in eight days.
• Derivatives positioning skews short, with about $1.16 billion in shorts versus $519 million in longs, even as analysts and JPMorgan point to sizable potential ETF inflows if approvals arrive.