XRP Surges as Ripple Settles SEC Lawsuit
XRP has become the top-performing major cryptocurrency in the last 90 days, says Ripple CEO Brad Garlinghouse. This surge comes after Ripple agreed to pay $50 million to the U.S. Securities and Exchange Commission (SEC) as part of a settlement.
The SEC initially sued Ripple in December 2020, alleging it sold XRP as an unregistered security. This case was closely watched in the crypto industry. In 2023, the court ruled that while institutional sales were legal, public exchange sales violated securities laws.
ripple had set aside $125 million for potential penalties. “We’re taking most of that back, including the interest,” Garlinghouse said on Fox Business. He believes the former SEC under Gary Gensler was wrong. The new SEC and white House leadership helped resolve the issue.
Like Coinbase and Gemini, Ripple benefited from supporting President Donald Trump. The company reportedly donated millions to his campaign and $5 million in XRP for his inauguration.Critics call this crypto-crony capitalism, but supporters see it as a move toward clearer regulations.
With the regulatory cloud lifting,Ripple plans to expand. It recently acquired Hidden Road for $1.25 billion. This move allows larger institutions like BlackRock to enter the market safely. Ripple’s employee count now stands at about 1,100.
Ripple has also launched a stablecoin with a New York trust license. Garlinghouse expects regulatory clarity to improve in stablecoin legislation and market structure bills. He predicts Bitcoin could reach $200,000 by year-end due to the U.S.regulatory shift.
XRP’s upward trend began after Trump’s re-election in November. See the data here.
