The US Securities and Exchange Commission (SEC) has concluded its lawsuit against Ripple, marking a significant win for the company and the crypto industry.
Official Conclusion of Ripple Lawsuit
Brad Garlinghouse, CEO of Ripple, announced on X that the SEC dropped its lawsuit against Ripple, marking a major win for the company. He highlighted that the SEC’s case against Ripple was doomed from the start, calling the conclusion a victory for the entire crypto industry. The legal case began in 2020 when the SEC claimed XRP as a security. However, Judge Analisa Torres ruled XRP is not a security, allowing Ripple to operate without legal restrictions.
XRP Price Surge After SEC Decision
After the SEC lawsuit was dropped, XRP price surged over 10% reaching $2.49. Market data indicated a sharp increase in trading volume by 52% to $5.35 billion. The market capitalization of XRP improved 11% to $1.449 billion. Analysts suggest the price surge is due to market expectations of the firm's growth and greater regulatory certainty.
Future Plans: IPO and Banking Expansion
Following the SEC case conclusion, Ripple is set to expand. The company might proceed with an Initial Public Offering (IPO), which would potentially enhance XRP value and draw more institutional investors. Ripple is also likely to broaden its banking partnerships, strengthening its role in the global payments industry. Garlinghouse stated that the firm can now grow without regulatory hindrance.
With the SEC's case concluded, Ripple is poised for significant developments. The company plans expansion and solidifying its position in the cryptocurrency and global financial landscape.
