Ripple CEO Brad Garlinghouse announced the conclusion of the SEC case after the commission dropped its appeal. This affected XRP's price movement.
Ripple and SEC Case Closure
Earlier this week, Ripple CEO Brad Garlinghouse announced that the SEC had decided to drop its appeal against the company. This statement led to a sharp price increase for XRP over two days, although it has since dropped.
Analysis of XRP Investors’ Behavior
According to Santiment, large XRP holders increased their stakes by 6.5% in the months leading to Garlinghouse's announcement. Numerous hints suggested the case could conclude soon, including similar lawsuits ending.
XRP's Future Prospects
While the XRP community is making significant price forecasts, there's a possibility of a typical 'sell-the-news' scenario, where initial gains after news turn into a downturn.
The conclusion of the SEC case removes a major obstacle for Ripple, but whether XRP can sustain its position remains to be seen.
