Amid the SEC ending its long-running battle with Ethereum, its future against Ripple and XRP is still up for debate. Ripple Labs and the SEC have been engaged in a lawsuit for some time now. Now, with the regulator dropping its charges against Ethereum, questions are being raised about their inconsistent approach to crypto regulation, and how XRP will be treated.
Crypto industry experts have criticized the SEC for its partiality in handling similar crypto cases, including Ripple Labs. Despite the legal battle, Ripple XRP has remained a top crypto asset amongst investors, and in the top 10 crypto assets by market cap on the market. Furthermore, after the partial approval of Spot Ethereum ETFs, rumors flew 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 can expect a huge bump in value. The Ripple vs SEC lawsuit ruling is also expected to be a pivotal catalyst for the future crypto market.
Also Read: Ripple: Can XRP Surge to $1 Following SEC Lawsuit Resolution?
Will The End Of The Ripple vs SEC Lawsuit Push XRP Higher?
Over the past week, Ripple (XRP) has observed a rather surprising value increase. Despite an overall market downturn, the asset had surged more than 202% in trade volume. The hype around a potential XRP ETF is only raising interest in the coin. In turn, this should inevitably make the coin pump beyond $0.50 again.
Recently, Ripple Labs’ president and CEO both made their case for a Ripple XRP ETF. The CEO was quoted saying that multiple other coins are inevitably going to get their ETFs too. “People don’t want just exposure to one commodity,” Garlinghouse said in an interview with Fox Business. He added that it “only makes sense” to add more commodities to the market to give investors more options to trade. Therefore, XRP could be a new competitor to ETH and BTC ETFs on the market.
Ultimately, we will have to wait for the official conclusion of the Ripple vs SEC Lawsuit. However, the dropping of charges against XRP shows that this is coming soon.