Ripple Scores Legal Victory with SEC Settlement
Ripple has finally put an end to its nearly five-year legal battle with the U.S. Securities and Exchange Commission (SEC) by mutually agreeing to dismiss their appeals. This move marks a significant win for Ripple, as it also received a waiver from the SEC’s “Bad Actor” disqualification, which had been a major obstacle for the company in raising capital.
The SEC’s decision to waive the disqualification is a game-changer for Ripple. While the permanent injunction imposed by Judge Torres remains in place, the removal of this regulatory barrier opens up new opportunities for the company. Ripple now has a clearer path to expand its operations, forge partnerships, and attract investors without facing additional regulatory hurdles.
The market reaction to this news has been positive, with XRP’s price showing a 15 percent increase over the past week. Analysts are keeping a close eye on the $3.35 to $3.40 range as a key level to watch. A breakout above $3.40 could potentially send XRP towards its all-time highs, with $3.55 and $3.65 as the next resistance levels to watch.
Despite the bullish sentiment, there are some cautionary signals in the market. Technical indicators are pointing to a possible bearish divergence on the weekly chart, suggesting a potential pullback if momentum wanes. As such, analysts are advising investors to proceed with caution and be prepared for a period of consolidation before any sustained breakout.
Looking ahead, XRP is expected to continue its relief rally in the short term, fueled by the positive news from the SEC settlement. If Bitcoin’s dominance in the market continues to weaken, altcoins like XRP could see further upside. However, analysts are urging investors to remain vigilant and monitor market conditions closely to navigate potential risks and opportunities in the weeks ahead.