Is XRP Ripple Expected to Reach $100 as SEC Lawsuit Comes to an End?

Ripple CEO Brad Garlinghouse recently announced that the Securities and Exchange Commission (SEC) is planning to withdraw its lawsuit against Ripple. The SEC will not pursue its appeal, marking a significant development in the legal battle between the agency and the cryptocurrency company.

Garlinghouse expressed his satisfaction with the SEC’s decision to drop the lawsuit, highlighting the positive impact it will have on both the company and the broader cryptocurrency industry. This move is a welcome relief for Ripple and its investors, who have been eagerly awaiting a resolution to the ongoing legal dispute.

The lawsuit, which was filed by the SEC in December 2020, alleged that Ripple had conducted an unregistered securities offering by selling XRP, the company’s digital asset. The legal battle has been closely watched by industry experts and market observers, as its outcome could have far-reaching implications for the regulation of cryptocurrencies in the United States.

Following the SEC’s decision to drop the lawsuit, Ripple’s legal team is now focused on resolving the remaining legal issues and moving forward with its business operations. Garlinghouse expressed his optimism about the future of Ripple and its ability to continue innovating in the rapidly evolving cryptocurrency market.

The news of the SEC dropping the lawsuit has been met with a positive response from the cryptocurrency community, with many seeing it as a step in the right direction for regulatory clarity in the industry. The decision to withdraw the lawsuit is seen as a positive development for Ripple, as it removes a major legal hurdle that has been hanging over the company for the past year.

Garlinghouse also highlighted the need for regulatory clarity in the cryptocurrency industry, emphasizing the importance of clear and consistent guidelines for companies operating in the space. He expressed his hope that the resolution of the lawsuit will lead to greater certainty and stability for Ripple and other cryptocurrency projects, allowing them to focus on driving innovation and growth.

Overall, the decision by the SEC to drop its lawsuit against Ripple represents a significant turning point in the ongoing legal battle between the agency and the cryptocurrency company. With this development, Ripple is now in a stronger position to move forward and continue its mission of revolutionizing the way money moves around the world.