XRP News Today: Ripple Settles SEC Case XRP Surges 3%

Ripple's protracted legal battle with the SEC has finally concluded after four years, marking a significant milestone for the cryptocurrency XRP. The resolution of this legal dispute has cleared the regulatory uncertainties surrounding XRP's future, allowing Ripple to focus on its strategic goals.

Ripple's CEO, Brad Garlinghouse, announced that the company has dropped its cross-appeal against the SEC, effectively ending the legal proceedings. This settlement includes a $50 million payment by Ripple, significantly lower than the previously proposed $125 million. The agreement also lifts the court's restrictions on Ripple's ability to sell XRP directly to institutional investors, opening new avenues for business growth.

Following the announcement, the price of XRP surged by more than 3%, reflecting the market's positive response to the resolution. The news has sparked widespread speculation about the future trajectory of XRP, with many investors and analysts closely monitoring its potential.

One of the most significant implications of this settlement is the potential for an XRP Exchange-Traded Fund (ETF). Garlinghouse hinted that approval for an XRP ETF could come as early as mid-2025, which has fueled optimism among investors. The approval of an ETF would likely attract substantial institutional investment, further driving up the price of XRP.

According to the analyst's forecast, if an ETF or a Ripple IPO materializes, XRP could see a significant price increase, potentially reaching between $6.99 and $10. However, some analysts remain cautious, suggesting that the current rally might cool off if no new catalysts emerge.

Currently, XRP is trading around $2.20, showing a 5.5% increase in the past 24 hours. The price is facing strong resistance near the $2.60 mark, and a clear breakout above $3 could occur with positive news regarding an XRP ETF.

In addition to the price movements, there has been a notable increase in network activity, with a 400% surge since March. This indicates heightened interest and usage of XRP, further bolstering its potential for growth.

As Ripple moves forward, the focus will be on building the "Internet of Value," a vision that aims to facilitate the seamless transfer of money, much like how information is exchanged today. With the legal clouds lifted, Ripple is poised to accelerate its development and expand its reach in the global financial landscape.