Ripple and its token XRP remain at the forefront of crypto discussions. This article reviews recent developments, including exchange support following a legal victory and ETF launch prospects.
Support Following Legal Victory
Following Ripple's partial court victory against the SEC in 2023, XRP has experienced renewed support from crypto exchanges. Platforms such as Coinbase, Kraken, and Gemini have re-listed XRP. Last week, Interactive Brokers added trading services for XRP along with SOL, DOGE, and ADA.
End of the Lawsuit
The legal battle between Ripple and the SEC reached a critical point as the SEC withdrew its appeal, effectively closing the case. Ripple's CEO Brad Garlinghouse announced this in March, and Chief Legal Officer Stuart Alderoty revealed Ripple would pay a $50 million fine instead of the initially ruled $125 million.
Future ETF Plans
With the lawsuit concluded, attention has turned to the potential launch of a spot XRP ETF in the US. Companies like Grayscale, Bitwise, and 21Shares have shown interest in launching such a product. ETF analyst Nate Geraci speculated that BlackRock and Fidelity might also be interested, with high odds of launch before 2025.
Ripple is moving forward successfully post-lawsuit, gaining exchange support and exploring the possibility of launching an XRP-based ETF.
