Ripple, led by Brad Garlinghouse, has settled its dispute with the SEC by paying a $125 million penalty and has launched an ETF for XRP.
Ripple's Settlement with SEC
Ripple reached a settlement with the SEC by paying $125 million as a penalty. Notably, there was no mention of XRP tokens in the settlement.
Launch of XRP ETF
The launch of the ProShares Ultra XRP ETF, which provides 2x leveraged exposure to XRP, triggered a significant 11% market rally. Ripple executives, such as David Schwartz, have not commented on this news yet.
Market Impact and Future of XRP
Ripple's ETF debut has resulted in increased XRP trading volume and market interest, mirroring past trends seen with BTC and ETH ETFs. Experts note that the XRP ETF could serve as a template for other tokens looking to enter mainstream finance. 'The Ripple case may resolve within weeks, depending on withdrawal of appeals by both Ripple and SEC,' legal experts stated.
The payment of the penalty and the launch of Ripple's ETF represent significant events for the cryptocurrency market, showcasing increased confidence among investors and laying the groundwork for XRP's further development.
