Ripple has successfully concluded its lengthy legal battle with the SEC, confirming XRP is not classified as a security in public sales.
Conclusion of the Legal Dispute
Ripple officially dropped its appeals, paving the way for similar actions from the SEC. Judge Analisa Torres ruled that XRP sales on exchanges do not violate securities laws. Although Ripple was found in violation concerning institutional sales, this classification does not affect retail sales. Ripple CEO Brad Garlinghouse stated, 'We’re closing this chapter once and for all.'
Market Reaction to the Decision
The court's ruling triggered an immediate market response. XRP's price surged by 4.4%, reaching $2.19. Ripple's Chief Legal Officer Stuart Alderoty emphasized that XRP’s classification remains unchanged, reaffirming its utility for cross-border transactions and enterprise finance. The company plans to focus on growth, new partnerships, and tokenized finance applications.
Technical Analysis and Predictions
XRP’s current price structure indicates potential bullish continuation. The 4-hour chart reveals a symmetrical triangle, with price action forming higher lows from $1.99, while resistance at $2.21 is under pressure. A breakout above this level could confirm bullish momentum. If successful, XRP may target $2.50, and in a broader market rally, there are chances of reaching the $3.50 zone.
The resolution of the legal battle and the optimistic market sentiment create favorable conditions for Ripple and XRP, positioning them for potential growth and innovations ahead.
