SEC Withdraws Appeal in Ripple Case, XRP Surges
The SEC has withdrawn its appeal against Ripple as of March 19, 2025, according to Ripple CEO Brad Garlinghouse.
The SEC’s decision marks a significant shift in regulatory actions, resulting in a 10% increase in XRP price.
SEC Ends 2020 Ripple Lawsuit with Withdrawal
The SEC initially launched a lawsuit against Ripple in 2020, alleging that $1.3 billion was raised illegally. This legal battle reached a turning point as the SEC retracted its appeal.
Ripple CEO Brad Garlinghouse announced via X that the SEC will withdraw its appeal. The SEC case has lingered since 2020, impacting Ripple’s market actions significantly.
XRP Fluctuates Between $2.35 and $2.59 Post-SEC Decision
The latest price data indicates that XRP is currently trading at $2.59, experiencing a fluctuation between $2.35 and $2.55. Analysts suggest that this trend aligns with previous market movements.
Experts emphasize that the SEC’s decision could pave the way for regulatory changes, potentially enhancing the chance of an XRP-traded ETF approval. Historical patterns seem to bolster this bullish sentiment. Bloomberg Analysts note, “The resolution of this lawsuit could enhance the likelihood of an XRP-traded ETF receiving SEC approval, estimating a 65-75% chance of approval by the end of 2025.”
Regulatory Decisions Mirror Historical Market Influences
Historically, regulatory decisions have influenced the cryptocurrency market, as seen with Bitcoin ETF approvals. The XRP ruling mirrors such events, causing short-term price hikes.
Experts point to precedents in crypto regulation, suggesting possible long-term impacts. Data analysis reveals past outcomes typically favor market expansions, reinforcing these optimistic projections.
The post SEC Withdraws Appeal in Ripple Case, XRP Surges appeared first on Kanalcoin.
Filed under: News - @ March 20, 2025 11:49 am