The U.S. Securities and Exchange Commission's (SEC) recent decision to drop its appeal in the Ripple case has sparked optimism in the market, particularly concerning XRP's price.
Institutional Investments and Spot ETFs
Attorney Fred Rispoli, on the Thinking Crypto podcast, said that dropping the appeal could lead to a more favorable environment for institutional investors. Additionally, the SEC might now be more inclined to approve XRP spot ETFs, marking a pivotal moment for Ripple and its long-term strategy as institutional interest grows.
Risk Averse Institutions and Programmable Sales
Despite the appeal being dropped, risk-averse institutions may still be hesitant until a final resolution is achieved. However, the removal of legal concerns around Ripple reduces a significant layer of risk for investors. Some concerns remain until the final judgments are clarified.
Waiting for Ripple’s Next Moves
As Ripple moves past the appeal, the next step will be to see how they communicate with institutional partners. While the appeal's dismissal is a major development, Ripple will likely wait for official documentation before announcing partnerships or other major moves. The market will likely see XRP's price respond positively in the coming weeks as these developments unfold.
The SEC dropping its appeal in the Ripple case eases investments in XRP, paving the way for future growth. However, the market awaits Ripple's subsequent plans.
