Could Ripple’s Big Win Against the SEC Propel XRP to a New Explosive ATH?
cryptonewsland.com 13 July 2024 10:21, UTC - A federal judge declared XRP is not a security, benefiting Ripple and the entire U.S. crypto industry.
- The ruling removes uncertainty, making XRP more attractive to institutional investors and banks.
- Analysts predict increased investment in Ripple due to legal clarity, potentially driving up demand and liquidity.
Ripple has won the lawsuit against the U.S. Securities and Exchange Commission (SEC), solidifying XRP’s status as a non-security. This landmark ruling not only benefits Ripple but also sets a precedent for the entire U.S. crypto industry.
The Court’s Decision
On July 13, 2024, a federal judge definitively declared that XRP does not violate securities laws in most contexts. This clarity removes uncertainty surrounding XRP’s legal standing, making it an attractive investment option for institutions and banks.
With the legal cloud lifted, institutional investors now have a major green light to engage with XRP and Ripple. Previously hindered by regulatory ambiguity, banks, and financial institutions can now explore XRP as a viable asset.
According to analysts, the ruling could be a catalyst for increased investment in Ripple’s offering. This will potentially drive up demand and liquidity.
The judge’s decision, based solely on legal grounds, underscores the SEC’s apparent bias in prosecuting crypto businesses. Unlike the judge, who impartially applied the law, SEC Chair Gary Gensler has faced criticism for his approach.
Ripple’s Prospects
The SEC’s ongoing battles with crypto businesses have raised concerns about the industry’s future in the U.S. However, this ruling signals a potential shift in favor of crypto companies.
#XRP has to flip 0.50c & 99MA.
I feel the #XRP monster is hungry for standalone feast & will suck all the liquidity as the only digital asset with legal clarity and regulatory. #XRPArmy STAY STEADY pic.twitter.com/q1pYxNKjtF
— EGRAG CRYPTO (@egragcrypto) July 13, 2024
Traders eagerly await the ruling’s impact, hoping for a surge in value. Meanwhile, XRP will have to flip 0.50c & 99MA to experience a significant price surge as the post above suggests.
Grayscale’s recent successful appeal and pressure from Congress on SEC matters further contribute to this positive momentum. Pro-XRP lawyer Bill Morgan predicts an all-time high for XRP in 2024. While exact figures remain speculative, the legal victory could drive XRP’s price upward.
