Ripple’s XRP Sees 8% Surge After SEC Case Dropped
BANGKOK (AP) — The price of XRP jumped more than 8% Thursday after the CEO of cryptocurrency company Ripple, Brad Garlinghouse, announced that U.S. regulators have dropped their long-standing legal case against the company. This announcement followed a tumultuous four-year battle, with the Securities and Exchange Commission (SEC) originally suing Ripple in late 2020 for raising $1.4 billion through the sale of XRP tokens, claiming they were unregistered securities. The SEC’s position under the Biden administration had insisted that digital assets like cryptocurrencies should be regulated similarly to securities—conveying a significant regulatory burden for companies in the space.
Garlinghouse declared the end of the lawsuit in a video shared on social media platform X, stating, “I’m finally able to announce that this case has ended. It’s over.” Following this news, XRP saw its value rise to over $2.50, marking an impressive rebound fueled by investor optimism. Meanwhile, other cryptocurrencies such as Ethereum and Solana also experienced gains of 4.1% and 6.2% respectively, indicating a broad market reaction to Ripple’s situation.
The regulatory landscape for cryptocurrencies is poised for a dramatic shift under the Trump administration, which has begun to ease restrictions. This is contrary to the previous regime’s approach, where former SEC Chair Gary Gensler was criticized for creating a rigorous regulatory environment that some claimed stifled innovation. Now, with the SEC reversing its course on several cases, including those against Coinbase, Robinhood, and Binance, the crypto sector is buzzing with possibilities.
Trump has made it clear during his campaign that he is committed to making the U.S. a global leader in crypto innovation. Just two weeks ago, he signed an executive order to establish a government reserve of Bitcoin, a strategic move that could help normalize cryptocurrencies within traditional financial structures. As Ripple’s Garlinghouse alluded to, the implications of this newfound freedom could reframe investor dynamics as they seek opportunities within a revitalized market.
Despite celebrating this legal triumph, Ripple’s journey is not yet complete. The company plans to appeal a previous ruling that imposed a $125 million penalty after the SEC claimed XRP was a security when sold to institutional buyers. Meanwhile, Garlinghouse suggested that he is optimistic about the future trajectory of XRP now that the SEC has stepped back from enforcement.
In a related development, the launch of a futures product based on XRP by the crypto derivative exchange Bitnomial—set for trading on March 20—further reflects this evolving regulatory atmosphere, promising to bring greater legitimacy to XRP. This product’s launch coincides with renewed investor confidence and highlights the potential for XRP to increasingly be viewed like other commodities such as oil or gold, which are subject to less stringent oversight.
The momentum for XRP has been significant, skyrocketing by 14% in just one day following Garlinghouse’s announcement. Active addresses on the XRP network reached an all-time high of 1.19 million in just a week, showing unprecedented engagement. Should this trend continue, XRP is positioned to retest its previous resistance levels, and possibly breach the $3 mark if bullish sentiment persists.
The rise of XRP is not an isolated phenomenon. Other projects are also gearing up for potentially explosive growth as enhanced regulatory clarity begins to emerge. The recent presale successes for SOL-based projects like Solaxy and BTC Bull Token demonstrate that investor interest is burgeoning across the board.
Additionally, PancakeSwap has surfaced as a significant player in the decentralized exchange landscape, processing more transactions than its competitors on Ethereum and Solana. This indicates a growing ecosystem where projects like XRP can thrive alongside innovative solutions catching the eyes of investors.
Ripple’s breakthrough signals a definitive shift in crypto regulation highways. As industry leaders rally around the milestone that has been Ripple’s journey through litigation, it has become apparent that Ripple is now charting a course for expansion and innovation without the shadows of the SEC looming overhead. As the future looks brighter for Ripple and the digital assets sector, it is crucial to take stock of these developments as they herald a new chapter in cryptocurrency history—one focused on growth, clarity, and ultimately, acceptance.
The price action reflects this optimism. XRP’s capitalization ballooned to $142 billion as trading volumes skyrocketed by 252%, reaching $10.3 billion. This sharp surge comes alongside significant speculation regarding the anticipated approval of an XRP exchange-traded fund (ETF), a development that could further integrate XRP into mainstream investor portfolios.
The landscape for cryptocurrencies is clearly shifting, ushering in an era of reform and opportunity. Observers are left wondering if XRP might soon find itself breaking through the barrier of $10, as the momentum from this victory ripples through the industry and lays the groundwork for future successes.
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