XRP news: SEC drops appeal, sparking 10% price surge
XRP is trading at $2.52
XRP surged 10% in early U.S. morning trading on Wednesday following remarks from Ripple CEO Brad Garlinghouse that the SEC is poised to drop its appeal against Ripple.
In a recent post on X, Garlinghouse declared, “This is it – the moment we’ve been waiting for. The SEC will drop its appeal,” describing the potential outcome as a “resounding victory for Ripple, for crypto, every way you look at it.” This announcement has reignited investor optimism after months of uncertainty surrounding the ongoing legal battle.
Key developments
The long-standing lawsuit between Ripple and the U.S. Securities and Exchange Commission has been a major source of volatility for XRP, leading to losses of up to $15 billion for XRP holders.
The SEC’s case, which Garlinghouse once characterized as the “first major shots fired in the war on crypto,” appears to be nearing its end.
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Market participants reacted swiftly to the news, with XRP’s price climbing 10% within minutes of the announcement. This surge in trading activity underscores the relief and renewed confidence among investors in the digital asset’s prospects.
At the moment of writing XRP is trading at $2.52. Traders are actively trading. The crypto community is welcoming the news as a step towards further clear regulation of cryptocurrencies.
Industry implications and outlook
Industry leaders view this development as a critical step toward achieving regulatory clarity for the crypto market. A decision by the SEC to drop its appeal could pave the way for more stable market conditions and set a precedent for future regulatory actions regarding digital assets.
The broader crypto industry could benefit from this potential victory, which may help to restore investor confidence and encourage a wave of adoption. With clearer regulatory guidance on the horizon, XRP and other digital assets may experience more predictable price movements in the coming months.
Earlier we wrote that buyers defend key $2.26 support as Ripple expands cross-border solutions.
