Ripple’s win against SEC drives XRP price toward $2 – Cryptocurrency update
In exciting news, Ripple has scored a major victory against the SEC, bringing XRP closer to the coveted $2 mark. The California District Court has approved a motion to amend its previous judgment and stay the order in the XRP class-action lawsuit, marking a significant turning point. Both Ripple and the SEC have jointly requested the motion, signaling their agreement that a delay is unnecessary as class claims have been settled. This swift decision by the court demonstrates a shared interest in resolving the legal battle promptly.
Ripple’s triumph not only benefits XRP but also serves as a positive sign for the entire crypto industry. By challenging regulatory overreach and emerging victorious, Ripple has set a valuable precedent for clearer rules, encouraging innovation and resilience across the sector.
Following this victory, there is a sense of optimism in the market, with XRP prices already up by 30% in the last week. The surge in the cryptocurrency’s value has sparked hopes of it surpassing its all-time high soon. Currently trading around $1.44, Ripple boasts an impressive market cap of $82.1 billion.
Additionally, speculations are swirling in the crypto community about the potential appointment of a pro-crypto SEC chair by president-elect Donald Trump. This development has raised expectations for an XRP-spot ETF market. Furthermore, Ripple’s efforts to introduce smart contracts to the XRP ledger and its partnership with Archax have also contributed to the ongoing rally. Some experts believe that XRP could hit the $2 milestone in the near future.
However, for XRP to reach $2, it needs to break through the recent highs of $1.63 and ultimately target the levels of $1.82 and $2.0. The excitement and anticipation around Ripple’s recent success and future prospects are fueling a sense of optimism in the crypto community.
