Ripple has concluded its counter-appeal in the long-standing lawsuit with the U.S. Securities and Exchange Commission (SEC), marking a significant development in the cryptocurrency market.
Conclusion of Legal Battle
Ripple's decision to end its counter-appeal dramatically reduces its legal and regulatory challenges in the United States. This event opens the way for more transparent operations for Ripple in the U.S. market. As a result of this positive news, XRP's price has experienced an increase.
BlackRock's Path to XRP ETF
With the end of the lawsuit with the SEC, major hurdles for BlackRock's spot XRP ETF application have been largely removed. Major investment firms like BlackRock had been awaiting the resolution of legal uncertainties. Ripple's agreement with the SEC is seen as a critical step toward creating new cryptocurrency-based financial products.
XRP Price Volatility
Following these developments, XRP's price has risen by approximately 3.5%. Market volatility is directly linked to the conclusion of the lawsuit. Experts predict that the end of the lawsuit could boost investor confidence.
Overall discussions indicate that Ripple's resolution of legal issues opens new opportunities for companies like BlackRock in developing cryptocurrency-based financial tools. This could signify the beginning of a new era in the cryptocurrency market.
