The post Why is XRP Going Up? Ripple SEC Legal Battle Officially Ends appeared first on Coinpedia Fintech News
The long-running legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple has finally come to an end. In a big move, the SEC has withdrawn its appeal, marking a major victory for Ripple and the broader cryptocurrency industry. The decision has sent shockwaves through the market, causing XRP’s price to surge by more than 15%. It hit a high of $2.56 and is now eyeing the $3 mark.
Now, according to experts, XRP is showing some interesting price action, with ambitious targets set for the future. XRP could soon follow a five-wave pattern, reaching between $7 and $12 initially, and possibly even as high as $20 to $40 in the future. If this happens, holders could see a huge return on their investment, potentially up to 1,610%.
Ripple CEO Celebrates After Massive Win
Ripple CEO Brad Garlinghouse celebrated the win, stating, “This is the moment we’ve been waiting for.” He criticized the SEC for its role in the case, calling it a government campaign that negatively impacted the market, wiping out $15 billion in value from innocent XRP holders. Garlinghouse also expressed his belief that the SEC’s actions were more about intimidating the industry than protecting investors.
Bright Future Ahead?
Reflecting on the four-year battle, Garlinghouse noted, “We’ve won on every critical legal point,” affirming that the court’s decision proved that XRP is not a security. He also said that today’s victory provides a clearer path for policymakers to regulate the crypto industry in a way that promotes innovation while aligning with existing securities laws.
Garlinghouse also opened up about the broader implications for the crypto space, expressing hope that this win would help make the U.S. the “crypto capital of the world.” He praised the new leadership in government for taking a more rational approach to crypto regulation, which he believes will lead to significant progress.
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