The lawsuit between the US Securities and Exchange Commission (SEC) and Ripple, which lasted four years, has finally concluded. This event marks a significant milestone for both the company and the crypto sector as a whole.
History of the SEC Lawsuit Against Ripple
The lawsuit against Ripple continued for four years as the SEC deliberated whether the XRP token was an unregistered security. The case set the pace for similar lawsuits against other token issuers. One of the latest demands was for Ripple to pay a $125M fine, which the company contested.
Implications and Expert Opinions
Ripple CEO Brad Garlinghouse referred to the lawsuit as 'the first shot in the war against crypto,' though it was doomed from the start. The case is believed to have wiped out up to $15B in token value. Garlinghouse views it as a form of lawfare aimed at weakening the crypto sector.
Market Reaction and XRP's Future
News of the lawsuit's conclusion boosted XRP prices. The market capitalization of the cryptocurrency rose, and its price reached $2.55. XRP is poised for a new phase, possibly including an ETF and use in real asset tokenization.
The end of the SEC lawsuit against Ripple marks a new era for the company and the crypto sector. XRP is ready to move forward, offering new opportunities for investors and developers alike.
