XRP, the fourth-largest cryptocurrency by market cap, jumped nearly 6% in the past 24 hours after Ripple signaled the end of its long-standing legal battle with the U.S. Securities and Exchange Commission (SEC). Ripple announced it is dropping its cross-appeal against the SEC, with expectations that the agency will do the same. CEO Brad Garlinghouse declared this marks the beginning of a new era focused on building the “internet of value.”
This announcement came just after a U.S. district court denied a joint motion from both parties requesting an indicative ruling. Despite the motion’s rejection, the crypto community remains optimistic. According to on-chain analytics platform Santiment, sentiment around XRP has hit a 17-day high, even as enthusiasm for Bitcoin and Ethereum has cooled.
At the time of writing, XRP is trading around $2.19, up 5% in the last 24 hours, after briefly hitting $2.20. Analysts suggest a breakout above key resistance levels — the 50- and 200-day moving averages at $2.26 and $2.36 — could push prices toward $2.65. On the downside, $1.90 is seen as the next strong support if bearish pressure returns.
Industry experts, including ETF Store President Nate Geraci, believe the lawsuit’s resolution opens the door for a potential XRP spot ETF, possibly involving major firms like BlackRock. Adding to the bullish momentum, Robinhood has launched XRP micro futures in the U.S., expanding its crypto derivatives lineup alongside Bitcoin and Ethereum.
As Ripple closes this legal chapter, investor attention shifts toward institutional adoption and the next wave of crypto ETFs, potentially reshaping the future of XRP.
