XRP's price showed a moderate reaction following the conclusion of the long-standing legal battle between the SEC and Ripple. Investors had anticipated a more significant surge.
Market Reaction to News
Upon the conclusion of the SEC vs. Ripple case, XRP's price increased by only 11%. This was below investors' expectations, who had hoped for a larger surge similar to July last year when XRP's price rose 73% following Judge Analisa Torres's ruling. One possible reason might be the current cautious market approach.
Future of Ripple and XRP
Despite the modest reaction, the case's conclusion could be a catalyst for XRP's future growth. Currently, XRP has formed a long-term 'double bottom' pattern, fueling investors' bullish expectations. They anticipate XRP could rise to $20 in the coming months. Additionally, with no legal obstacles from the SEC, Ripple can advance its solutions in traditional finance, opening doors to institutional adoption.
XRP ETF Prospects
The conclusion of the SEC vs. Ripple case improves the prospects for launching XRP ETFs. The SEC has already received 18 ETF filings, and it's only a matter of time before they hit the market. This is expected to attract significant institutional investments, potentially driving XRP to historic highs. It's also anticipated that XRP will become a part of the U.S. crypto reserves, increasing demand from other countries.
With the SEC vs. Ripple case concluded, XRP has shed one of the main barriers to growth. The question remains whether XRP can meet high investor expectations and capitalize on the newly opened opportunities.
