Following the resolution of the legal battle between Ripple and the SEC, XRP has shown a significant upward trend. Let's explore what led to this development and what the future might hold for Ripple.
Conclusion of the Ripple and SEC Dispute
For four years, the SEC and Ripple have been involved in legal proceedings due to allegations of selling XRP as an unregistered security. Today, the case concluded in favor of Ripple, marking a significant event for the crypto community.
XRP's Market Response
Following the news of the lawsuit resolution, XRP surged by 13%, rising from an intraday low of $2.25 to $2.56. The chart shows that the price is testing a resistance level at $2.60. If the news proves strong enough, the price could break this resistance and move towards new highs.
Ripple's Future Plans
Now that the legal battle is over, Ripple can proceed with its plans for an IPO. The company's valuation stands at $11.3 billion, suggesting potential growth. Ripple will also continue its initiatives with Central Bank Digital Currencies (CBDCs) and strengthen its stablecoin, RLUSD.
With the legal process resolved, Ripple has numerous opportunities to expand its business, which could contribute to further XRP price increases in the market.
