Last week there was finally clarity in one of the longest -running legal conflicts within the crypto sector: the lawsuit between Ripple and the American stock market watchdog SEC has officially ended. Nevertheless, an explosive price reaction was not available.
The XRP course rose briefly by around 10%, but then dropped again. According to analysts, including Dmitrij Radin from Blockchainbedrijf Fideum, this was no surprise.
Sec finally lets Ripple go, but price response remains limited
“This news had been priced for a long time, actually since Trump entered the political stage again,” explains Radin. The president is known as a pro-Crypto, which was expected to relax his hard approach from Ripple at an early age.
When it became clear that SEC chairman Gary Genler-the face of the legal offensive against Ripple-would put down his position and may be succeeded by a crypto-friendly candidate, XRP really started to get moving. The race rose to a local peak of $ 3.39, only one cent below the all-time high from 2018.
Analysts may expect even greater surprises for XRP
Although the course of XRP is currently lagging behind, the end of the court case is broadly seen as a very positive signal. It finally brings peace to the market – something that investors have waited for years. Moreover, this legal final piece could only be the start of a series of bullish developments that have not yet been fully priced.
The close bond between Ripple and Donald Trump is striking. CEO Brad Garlinghouse previously participated in a crypto consultation in the White House, and Ripple donated millions of dollars to Trumps inauguration. This feeds speculation on possible political benefits for the company.
Some analysts even go one step further and point to potentially groundbreaking next steps. For example, there is talk of an accelerated approval of an XRP spot ETF – or, in an even more daring scenario, inclusion of XRP in the national strategic reserve of the United States.
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Source: https://newsbit.nl/sec-zaak-voorbij-maar-de-grote-verrassing-voor-xrp-moet-nog-komen/
