Ripple vs SEC Lawsuit Concluded: XRP Price Jumps 17% After Positive Court Decision

According to Jeremy Hogan, a noted legal expert, the verdict brings crucial clarity to Ripple regarding its On-Demand Liquidity (ODL) usage, paving the way for more confident operations. Furthermore, in a major victory for Ripple, the court reduced the SEC’s demand by a staggering 94 percent, significantly easing the financial pressure on the company. Hogan highlighted that Ripple will now be able to utilize its ODL product, albeit with caution, ensuring compliance with regulatory guidelines. This ruling not only validates Ripple’s position in the market but also sets a precedent for future crypto-related legal cases.

XRP Price Poised for Major Surge

Following the favorable ruling for Ripple, XRP price pumped over 17 percent in the past 24 hours to hover at about 60 cents on Thursday during the early Asian session. After six years of triangular consolidation, the large-cap altcoin, valued at approximately $60 billion with a daily average traded volume nearing $4 billion, is poised for a significant bullish surge. Data from Santiment’s on-chain analysis reveals that XRP whales and sharks have ramped up their accumulation to unprecedented levels, indicating a potential moonshot. It’s worth noting that XRPL accounts, with balances ranging from 1M to 10M XRP coins, now collectively hold over 7 billion coins, equating to more than $4.4 billion in value. This accumulation trend suggests a strong bullish sentiment amongst major investors, further hinting at a possible price explosion for XRP in the near future.

Impact on the Crypto Industry

The final ruling in the SEC vs Ripple case stands as a pivotal moment for the crypto industry, particularly within the United States. This decision is expected to catalyze a broader embrace of digital assets and web3 offerings, driving further mass adoption. Notably, the US SEC had previously withdrawn from significant probes targeting various altcoins, including Solana (SOL), Cardano (ADA), BNB, and Ethereum (ETH). Consequently, the sustained macro crypto bull run is poised to attract an expanded array of participants over the long term.