The resolution between Ripple and the SEC has led to positive changes in the market. XRP, the company’s main token, surged sharply after the announcement of appeal withdrawals.
How Did the Legal Battle Conclude?
The dispute between Ripple and the SEC concluded with the withdrawal of mutual appeals. This decision was made after Ripple dropped its counter-appeal in June, following a judicial rejection of proposed settlement amendments. As a result, the company agreed to a fine of $125 million and signed a prohibition agreement on institutional XRP sales in the U.S.
What Impact Did This Have on XRP?
The resolution sparked a rapid recovery in XRP’s price, soaring over 24% since a dip in early August. This surge was largely influenced by keen interest from South Korean altcoin traders. However, analysts often caution that news-driven price movements can be temporary; only time will tell if this uptrend can sustain in the market ecosystem.
Future of Ripple and XRP
The situation surrounding Ripple is becoming more interesting, as speculation rises about a potential XRP ETF. Nate Geraci, a prominent market observer, suggests that BlackRock was waiting for the dispute to settle before pursuing ETF applications. At the same time, Bloomberg’s ETF expert Eric Balchunas points out that market actions are not dictated by a single institution. The emergence of new opportunities in institutional investments heightens interest in XRP’s future development.
The resolution of the legal dispute between Ripple and the SEC opens new opportunities for the company's growth and its token XRP. Market interest and institutional changes could significantly influence Ripple’s next steps.
