Pro-XRP Lawyer John Deaton Drops Bombshell Hint Ahead of July 18 — Here’s Why the Crypto World Is Watching

XRP’s legal champion just lit a fuse—and the countdown to July 18 is officially on.

Why this date matters: While Deaton’s cryptic celebration has traders buzzing, insiders know the real fireworks could come from a long-awaited regulatory shift. Ripple’s legal saga has been a masterclass in bureaucratic foot-dragging—but if the SEC’s grip loosens, the altcoin could finally break free.

Timing is everything: With the crypto market itching for bullish catalysts, XRP’s next move might just expose how much Wall Street still fears decentralized finance. Brace for volatility—and maybe, just maybe, a reckoning for the suits who thought they could bury this case in paperwork.

Pro-XRP Lawyer Comments On July 18 ETF Launch Date

In an X post, John Deaton reacted to the news that ProShares XRP ETF will launch on July 18. The Pro-XRP lawyer noted how two years ago, a federal judge declared that the altcoin itself is not a security. He added that this is what the 75,000 XRP holders, who were part of his amicus brief, fought for. 

Deaton remarked that two years later, XRP ETFs go live. He then alluded to how this is a big win for the free markets. The ProShares XRP ETF is likely to launch on July 18, according to the firm’s filing with the SEC. This is bullish for the altcoin, given the amount of capital that WOULD flow into its ecosystem through this fund. 

As the Pro-XRP lawyer indicated, the altcoin has been able to record these milestones of ETF launches thanks to Judge Analisa Torres’ ruling in the XRP lawsuit. This provided clarity for institutions on XRP’s status and prompted them to MOVE to gain exposure to the altcoin. The clarity has also served as a catalyst for higher prices for the altcoin. 

Meanwhile, the ProShares XRP ETF is a futures-based fund and not a spot ETF, which would provide investors with direct exposure to the altcoin. The fund will invest in futures and derivatives contracts that have XRP as the underlying asset, thereby providing indirect exposure to investors. 

Canada XRP ETF Achieves Major Milestone

In an X post, 3iQ announced that its Ripple-backed XRP ETF, Canada’s largest XRP fund, has accumulated over $50 million in client assets since its launch on June 18. The asset manager’s CEO, Pascal St-Jean, stated that this significant milestone for their XRP ETF demonstrates the continued strong interest in these assets. This also highlights the potential interest that these spot funds could generate once they launch in the US. 

The US spot XRP ETFs are expected to launch this year, based on predictions by Bloomberg analysts James Seyffart and Eric Balchunas. These analysts predict a 95% chance that the SEC will approve these funds this year. 

Furthermore, market expert Nate Geraci noted that Ripple’s decision to drop its cross-appeal in the XRP lawsuit could clear the way for these XRP funds. The SEC is also expected to drop its appeal in the legal battle, which is bullish for the altcoin. 

At the time of writing, the xrp price is trading at around $2.87, down over 2% in the last 24 hours, according to data from CoinMarketCap.