27.06.2025 21:56

Ripple Labs, a leading US-based blockchain payments firm, has decisively ended its protracted legal battle with the Securities and Exchange Commission (SEC). This significant development follows CEO Brad Garlinghouse's Friday announcement that Ripple is withdrawing its cross-appeal, anticipating reciprocal action from the SEC to amicably conclude the litigation. The move comes after Judge Analisa Torres denied both parties' requests for an indicative ruling, paving the way for a resolution. Garlinghouse's celebratory X post declared, "We're closing this chapter once and for all, focusing on building the Internet of Value."

This resolution carries substantial implications for the XRP market, both short-term and long-term. For the past four years, the Ripple vs. SEC case has significantly hindered the widespread adoption of XRP. The expectation of the SEC dropping its own appeal positions XRP for a renewed bullish trajectory. Immediately following the announcement, XRP, a large-cap altcoin boasting a fully diluted market cap of roughly $211 billion and a 24-hour trading volume averaging $2.4 billion, experienced a 1.5% increase, trading at approximately $2.13 during late North American trading hours.

Technically, XRP's price has shown consolidation over the past six months, suggesting a potential bullish breakout is imminent. However, this positive outlook hinges on XRP maintaining its price above the crucial support level of $2 in the weeks to come; failure to do so could invalidate the short-term bullish predictions. The development marks a turning point, potentially unlocking substantial growth for XRP and the broader cryptocurrency market. This information is sourced from internet resources.