The legal battle between Ripple and the SEC has concluded. The company has reached an agreement with the commission. Attention now turns to XRP's future and the anticipated ETF approval.
End of Ripple vs SEC Case
The lawsuit began in December 2020, when the SEC accused Ripple of conducting an unregistered securities offering through XRP sales. Over the years, the case became significant in defining how U.S. securities laws apply to digital assets. However, Ripple has emerged stronger from this, marking a major victory for the crypto industry.
Verdict and Next Steps
Ripple's Chief Legal Officer Stuart Alderoty has confirmed that the company agreed to drop its cross-appeal, allowing the SEC's previous decision to stand. Additionally, the SEC requested the removal of the standard injunction on Ripple. The resolution is awaiting final legal procedures and a commission vote. It's notable that the SEC has recently softened its regulatory approach to crypto by dropping lawsuits against major exchanges like Coinbase and Kraken.
XRP's Future and Potential ETF Approval
With the lawsuit behind, Ripple is optimistic about the future. According to Polymarket, there is an 86% chance that an XRP ETF will be approved before 2025. Amid market turmoil, XRP remains stable, trading at $2.46, above the crucial support level of $2.40. Many analysts believe XRP could soon reach $2.9990 and even $3.4000, driven by market confidence and potential ETF approval.
The end of the Ripple vs SEC case opens new opportunities for the company and XRP. The anticipated ETF approval could attract major institutional interest and boost market confidence in XRP.
