Ripple has officially dropped its appeal in the long-running case with the SEC. This decision may signify the end of one of the largest legal battles in crypto history.
Ripple Ends Appeal
Ripple has decided to cease its appeal in the legal dispute with the SEC. The company's Chief Legal Officer, Stuart Alderoty, confirmed this decision. He stated that XRP is not a security, and that fact hasn’t changed. Alderoty commented that the court provided them with two options: continue fighting or step away. Ripple has chosen the latter, and the SEC is expected to follow suit.
What This Means for XRP?
With the legal battle nearly over, XRP may have new opportunities for growth. Potential changes could include:
* **Incoming XRP ETF:** This situation may lead to involvement from major firms like BlackRock in XRP. * **Ripple IPO Possible:** The prospect of an initial public offering (IPO) for Ripple, previously on hold due to the lawsuit, now seems more likely. * **Banks Can Join In:** Banks can now work freely with Ripple and XRP, as the pressure from the SEC has eased.
Expectations and Prospects
The investor community is anxious to see how XRP will evolve following this decision. Currently, XRP trades at $2.18, having surged 3.87% over the last 24 hours. Trading volume has also increased by 1.11%, reaching $3.5 billion.
This decision is perceived as an opportunity for Ripple to build and expand, free from legal pressures. Community expectations suggest this may be the moment for XRP to have a fresh start.
The end of Ripple's legal battle with the SEC marks a potential turning point for the company and the entire crypto industry. Ripple can now focus on growth and development, and its cryptocurrency, XRP, may be poised for new heights.
