XRP’s Future Brightens as Ripple ends Legal Battle with SEC
The XRP token, central to the XRP Ledger, is gaining attention after Ripple’s legal saga with the SEC concluded. The crypto firm is now set to forge new stablecoin partnerships,perhaps boosting XRP’s value.
The SEC’s lawsuit against Ripple has been a long, drawn-out affair. It led to XRP’s removal from major exchanges and a drop in its price. Though, Ripple’s CEO, Brad Garlinghouse, announced the company’s decision to withdraw its appeal. This move could pave the way for XRP’s growth.
Why is this legal battle’s end significant? The lawsuit caused XRP’s delisting from key exchanges and a price dip. But now, Ripple is focusing on expanding stablecoin collaborations and enhancing XRP’s utility.These steps might drive the altcoin’s price up.
Stuart Alderoty, Ripple’s CLO, shared that Judge Analisa Torres gave Ripple two choices: drop the appeal on historic XRP sales or continue fighting. Ripple chose to withdraw its appeal. Garlinghouse confirmed this on Twitter, signaling a new chapter for the cryptocurrency.
Garlinghouse’s tweet suggests Ripple is ready to move forward.
Simultaneously occurring, XRP’s price is hovering near $2.18. Technical indicators hint at a possible bullish trend. If XRP breaks above $2.50, it could reach $2.65. Support levels are at $1.90 and $1.77.
Ripple is also partnering with OpenPayd to integrate its stablecoin and blockchain network. This collaboration aims to speed up global payments and simplify fiat-to-stablecoin conversions.
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