This week marked the official end of the lengthy legal battle between Ripple and the SEC. We examine the key points and potential impacts on the cryptocurrency market.
End of the Ripple Case
On November 5, the price of XRP surpassed three dollars, reaching its peak earlier in the week amid news of the case closure. The legal standoff with the SEC lasted over four years and has finally come to an end. Ripple's Legal Director, Stuart Alderoty, shared the following statement:
Details of the Final Settlement
The billion-dollar fine has been rescinded, and most legal issues concerning the classification of XRP Coin as a security have been settled. The legal battle has concluded with a settlement between the parties.
Future of XRP Coin Post Trial
On November 21, following the official resignation announcement of Gary Gensler, XRP Coin began to rally significantly. Maintaining a price above the $2.47 level is now crucial to sustain momentum.
The conclusion of the Ripple case marks a significant moment in cryptocurrency regulation history, providing prospects for XRP and other digital assets.
