XRP Soars 14% as SEC Drops Appeal – Is a Major Rally Ahead?

Garlinghouse, speaking at the Digital Assets Summit in New York, criticized the SEC’s actions, stating that the legal battle had been a “painful journey” but that Ripple had ultimately been “on the right side of the law and history.” Ripple’s Chief Legal Officer Stuart Alderoty also emphasized that this resolution sets a precedent for the U.S. crypto industry.

How Has XRP Reacted?

XRP, the fourth-largest cryptocurrency by market capitalization, saw an immediate spike in price following the announcement. The coin surged from a low of $2.26 earlier in the day to $2.59 before stabilizing. Over the past week, XRP has gained 14%, adding to its 22% rise year-to-date. The resolution of the legal uncertainty has fueled bullish sentiment, with traders eyeing further upside potential.