XRP surged following an announcement from Ripple CEO Brad
Garlinghouse regarding the conclusion of the company’s legal battle with the US
Securities and Exchange Commission (SEC).
Garlinghouse shared the news on X on March 19, stating that
the SEC would drop its appeal. Following the development, XRP reached $2.59
before facing resistance. The price has since entered a correction, currently
trading around $2.39.
Ripple Wins as SEC Drops Appeal
Ripple’s
legal dispute with the SEC has concluded, bringing an end to a case that
began in December 2020 when the regulator alleged a $1.3 billion unregistered
securities offering.
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.The future is bright. Let’s build. pic.twitter.com/7WsD0C92Cm
— Brad Garlinghouse (@bgarlinghouse) March 19, 2025
Garlinghouse announced the development, stating: “The
case has ended; it’s over.” Garlinghouse described the outcome as
significant for the crypto industry and emphasized the need for the US to take
a leading role in the sector.
Meanwhile, Garlinghouse
expressed his optimism about Bitcoin during the Blockworks Digital Asset Summit
in New York. He shared that he bought Bitcoin in 2012 and continues to hold it,
having used it for transactions but not selling it. Garlinghouse reiterated his
positive outlook on Bitcoin, stating: “I am bullish on Bitcoin, period.”
🔥 BULLISH: 🇺🇸 “I think Trump will make crypto great again in the United States.” – @bgarlinghouse, CEO of Ripple pic.twitter.com/lj6dy3elSv
— CryptosRus (@CryptosR_Us) February 12, 2025
XRP Struggles After Rejection at $2.59
The XRPUSD H1 chart shows that after facing rejection at
2.59000, the price has been moving downward, breaking through key support
levels. As of now, the cryptocurrency is nearing a potential breakout at
2.39000.
If confirmed, sellers could continue pushing the price
lower, with the 2.32000 level potentially coming into focus, where XRP
previously saw strong upward movement.
Ripple’s Key Partnerships and Legal Developments
Ripple has been in the spotlight due to several
developments. Michael Saylor, Executive Chairman of Strategy, recently
discussed cryptocurrencies’ role in US strategic reserves after President
Trump’s executive order listed Bitcoin, Ethereum, XRP, Solana, and Cardano. Saylor
suggested that XRP should be issued under a regulatory framework.
Ripple gained attention when CEO
Garlinghouse and CLO Alderoty met President-elect Trump on January 6, fuelling
speculation about the SEC’s lawsuit filed in December 2020, alleging XRP was
sold as unregistered securities.
Great dinner last night with @realDonaldTrump & @s_alderoty. Strong start to 2025! pic.twitter.com/UjM6lahUG4
— Brad Garlinghouse (@bgarlinghouse) January 8, 2025
The
company has expanded partnerships with Revolut and Zero Hash, aiming to
compete with USDT and USDC. In Portugal, Ripple
is working with Unicâmbio to enable instant payments between Portugal and
Brazil using digital assets.
South Korea’s BDACS to Use Ripple Custody for Institutional XRP, RLUSD Holdings https://t.co/FEV487V861
— GA Spark (@XRP_Spark) February 27, 2025
In South Korea, BDACS
will use Ripple Custody to secure XRP and RLUSD, while Ripple donated
$100,000 in XRP for California wildfire relief. Ripple anticipates Japanese
banks adopting XRP Ledger by 2025 for cross-border payments.
In DeFi, Ripple is collaborating with Chainlink to integrate
RLUSD into Ethereum-based platforms. Investor interest remains high, with whales
purchasing 520 million tokens during a recent dip.
This article was written by Tareq Sikder at www.financemagnates.com.
Source link
