XRP experienced a significant surge of 10% on Wednesday during the U.S. morning hours, driven by optimistic statements from Ripple’s CEO, Brad Garlinghouse. Garlinghouse announced that he expects the U.S. Securities and Exchange Commission (SEC) to withdraw its appeal against Ripple, a company closely linked to the XRP tokens.
“This is it – the moment we’ve been waiting for. The SEC will drop its appeal,” Garlinghouse posted on X. “A resounding victory for Ripple, for crypto, every way you look at it.” His remarks have sparked optimism among investors and traders, propelling the price of XRP upwards as market sentiment turns positive.
Recent reports have indicated that the long-standing legal battle between Ripple and the SEC may soon conclude. Garlinghouse has referred to the ongoing lawsuit as the “first major shots fired in the war on crypto,” emphasizing the case’s importance not just for Ripple, but for the entire cryptocurrency market. The SEC’s actions have reportedly led to losses exceeding $15 billion for XRP holders, highlighting the gravity of the situation for investors who have been anxiously awaiting a resolution.
As the cryptocurrency community watches closely, the potential withdrawal of the SEC’s appeal could mark a pivotal moment for Ripple and the broader landscape of digital assets. Investors are advised to stay informed as developments unfold, which may significantly impact the market.
