The legal conflict between Ripple and the U.S. SEC has finally come to a close, resulting in a notable rise in XRP’s price. In the past 24 hours, XRP has seen an 8% increase, leading many to speculate whether this trend marks the beginning of a broader altcoin surge.

SEC Drops Ripple Case

The SEC’s decision to dismiss the case, without any intention to appeal, alleviates pressures on Ripple. This case had burdened Ripple for nearly four years.

“This is it – the moment we’ve been waiting for. The SEC will drop its appeal – a resounding victory for Ripple, for crypto, every way you look at it.”

— Brad Garlinghouse, CEO of Ripple

In December 2020, the SEC accused Ripple of raising $1.3 billion through unregistered securities sales of XRP. Ripple has consistently denied these accusations, leading to a lengthy legal battle. The conclusion of this case not only favors Ripple but also reshapes the landscape for the cryptocurrency market.

Under the Biden administration, there was a push to classify cryptocurrencies as securities, which would have subjected them to stricter regulations. However, the recent shift in regulatory stance under President Trump and new developments led by David Sacks, who has been supportive of cryptographic technology, signal a new era of opportunities for growth in the crypto space.

The Future of XRP

With the conclusion of this lawsuit, XRP is anticipated to continue rallying, and the launch of the first CFTC-regulated XRP futures could pave the way for further investment in the cryptocurrency. Additionally, many are speculating about the likelihood of an XRP ETF approval later this year.

In a recent post, Garlinghouse shared, “The case has ended—it’s over,” signifying a positive outlook for Ripple ahead.

As Ripple takes steps forward, the crypto market watches closely, with hope that XRP could spark a broader altcoin rally.