Good news finally broke for XRP holders. The digital currency, tied to the XRP Ledger network, saw its value jump. This boost came after reports confirmed the end of a long legal fight. Its main company, Ripple, has settled with the top U.S. securities watchdog.
The XRP price shot up nearly 8% in the past 24 hours. The market is starting to bounce back from recent dips. But XRP, Ripple’s native coin, really stood out. It reached about $3.27 per unit when this article was written. That’s a 7.3% rise from yesterday’s value. Trading volume also soared past $13.257 billion. This volume is 177.79% higher than the past 24 hours.
The Long Legal Battle Ends for Ripple and SEC
The surge in XRP’s price comes from market excitement. Reports published yesterday confirmed the end of a long-standing legal fight. Ripple Labs and the Securities and Exchange Commission (SEC) are finally closing their dispute. This court battle has been going on for five years.
Both sides decided to pull back their appeals. This formally ends the disagreement. The agreement confirms Ripple must pay the original fine. They will hand over $125 million, even after trying to lower the amount. It seems the dust has settled.
This settlement shows a clear shift in how the SEC views cryptocurrencies. This change happened after the Trump administration came in. Before, under Gary Gensler, the SEC was very tough on the crypto industry. They insisted on rules even when things were unclear. They took many companies to court for not following securities laws.
The case against Ripple started even before Gensler led the SEC. But the agency’s actions during his time drew strong criticism. Many in the crypto world and beyond were unhappy. Now, with Trump back, and Mark Uyeda as interim commissioner, then Paul Atkins, the SEC is more open. They are trying to talk with the industry. They are also clearing up old rules that caused past problems.
Since the SEC changed its tune, several cases have been closed. Investigations against big industry players ended. Companies like Coinbase, Kraken, Binance, OpenSea, and Robinhood have seen their issues resolved.
New Hopes for Spot XRP ETFs
Now that the legal fog has lifted, market hopes are rising. Investors are looking forward to applications for spot XRP Exchange Traded Funds (ETFs). The SEC is currently reviewing these requests. They are expected to make decisions in the coming months.
The new administration also saw a big wave of ETF applications for other cryptocurrencies, known as altcoins. Many of these are specifically for Ripple’s XRP. The lawsuit between Ripple and the SEC made approvals seem risky. But with the dispute finally over, the path seems clear. The agency might now approve these products for U.S. stock exchanges.
Spot crypto ETFs let investors put money into digital assets indirectly. This means they own shares of a fund, not the actual crypto. The SEC recently allowed existing Bitcoin (BTC) and Ethereum (ETH) funds to offer “in-kind” redemptions. This means shareholders can get the actual crypto instead of just cash when they redeem shares.
For now, the crypto world waits for official SEC verdicts on spot XRP ETFs. We will then see what effect these new products have on major U.S. stock markets.
- XRP’s price jumped nearly 8% in 24 hours.
- This rise is linked to reports about Ripple and the SEC ending their court battle.
- With the dispute settled, expectations for spot XRP ETFs are growing.