A few weeks ago, in an unexpected twist, the SEC issued a public apology to Ripple. Legal experts, attorneys, and even Ripple’s CEO have now confirmed that the case is closed—an undeniably bullish signal for XRP.
Conclusion of Legal Battle
Ripple’s long-awaited victory marks the end of its four-year legal battle with the SEC. Stuart Alderoty, Ripple’s Chief Legal Officer, officially announced on X (formerly Twitter) that the case is resolved. The SEC’s proposed fine was also significantly reduced from $2 billion to $125 million.
Launch of a New XRP Trust
Grayscale, a major player in crypto investments, has launched a U.S. XRP trust, raising hopes for a potential XRP ETF. An ETF allows investors to buy shares that track the price of XRP without needing to own the cryptocurrency directly, making it easier for everyday investors and institutions to get involved in XRP.
Future and Potential XRP ETF
Many in the XRP community are thrilled, especially after the long legal battles with the SEC. Brad Garlinghouse told Bloomberg, 'We would certainly welcome it, and I think it's inevitable that there'll be multiple ETFs around different tokens.' Attorney Fred Rispoli shared his thoughts on the potential XRP ETF on The Good Morning Crypto Show, stating that all they need to do is swap 'Bitcoin' and 'Ethereum' with 'XRP' in the existing paperwork.
Some remain cautious due to ongoing regulatory uncertainties and potential appeals from the SEC, which could prolong the process till 2026. However, many believe the end of this year could bring a bullish trend, with potential price increases in November and December.
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