Crypto industry experts have criticized the SEC for bias in its handling of similar cryptocurrency cases, including Ripple Labs. Despite the legal battle, Ripple XRP remains the top crypto asset among investors and is in the top 10 crypto assets by market capitalization in the market.
Furthermore, after the Ethereum spot ETF was partially approved, there were rumors about XRP being the next cryptocurrency to receive a spot ETF.
Recent developments in the Ripple case suggest that the SEC may not appeal the court’s ruling that XRP is not a security. If this happens, the asset will likely increase in value enormously. The verdict of the lawsuit between Ripple and the SEC is also expected to be an important catalyst for the future cryptocurrency market.
Will the end of the lawsuit between Ripple and the SEC push XRP higher?
Over the past week, Ripple (XRP) has observed a rather surprising increase in value. Despite the general market downturn, the asset increased by more than 202% in trading volume. The hype surrounding a potential XRP ETF has only increased interest in the coin. This, in turn, will certainly cause the coin pump to exceed $0.50 once again.
Recently, the president and CEO of Ripple Labs both commented on the Ripple XRP ETF. The CEO is quoted as saying that many other coins will definitely get their ETFs as well. “People don’t just want exposure to one commodity,” Garlinghouse said in an interview with Fox Business.
He added that adding more items to the market “makes sense” to give investors more trading options. Therefore, XRP could be a new competitor to ETH and BTC ETFs in the market.
Finally, we will have to wait for the official conclusion of the Ripple vs SEC Lawsuit. However, the drop in charges against XRP suggests this is imminent.
