Ripple has concluded a multi-year legal battle with the SEC with victory, leading to a rise in XRP value and widespread reaction in the crypto community.
History of the Legal Battle
In December 2020, the SEC filed a lawsuit against Ripple, accusing the company of selling unregistered XRP securities worth $1.3 billion. However, in July 2023, Judge Analisa Torres ruled that Ripple's large-scale sales did not violate securities laws, though marketing to large players did. In August 2024, the court issued a final judgment fining Ripple $125 million.
Crypto Community Reaction
Crypto investors congratulated the Ripple team with this long-awaited victory. Among the well-wishers were former CFTC Chairman Chris Giancarlo and Coinbase founder Brian Armstrong. The community is confident in further XRP value growth following the recent events.
XRP Financial Prospects
Amid encouraging technical indicators and increased network activity, further growth in XRP value is foreseen. Currently priced at $2.41, analysts discuss the possibility of it reaching $3 soon. However, there's a risk of price decline if support levels are breached.
Ripple's victory over the SEC could be a significant milestone in cryptocurrency legitimization, strengthening XRP's market position and increasing its value.
