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/ XRP News Today! XRP Price Gains Nearly 10% after Ripple’s Victory as SEC Drops Lawsuit

XRP News Today! XRP Price Gains Nearly 10% after Ripple’s Victory as SEC Drops Lawsuit

Bitrue
XRP surges nearly 10% as the SEC drops its lawsuit against Ripple, marking a major win for crypto. Discover how regulatory shifts and political changes are shaping XRP’s future, potential ETF approvals, and market growth. Stay updated on the latest XRP news!
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The cryptocurrency world witnessed a significant development on Wednesday as the U.S. Securities and Exchange Commission (SEC) decided to drop its long-running lawsuit against Ripple, the company closely associated with the digital asset XRP.

The announcement, made by Ripple CEO Brad Garlinghouse, sent XRP’s price soaring by 10%, reaching a high of $2.55 before settling slightly lower at $2.49.

A Long-Awaited Victory for Ripple and the Crypto Industry

In a video posted on X, Garlinghouse expressed relief and triumph over the conclusion of the legal battle. “It’s over,” he declared, emphasizing that the nearly four-year legal dispute had been a painful but necessary journey to establish legal clarity for the crypto industry.

The SEC initially sued Ripple in December 2020, accusing the company of selling XRP as an unregistered security.

This legal battle became one of the most consequential cases for the crypto industry, as it had far-reaching implications on how cryptocurrencies would be classified and regulated in the U.S.

In a partial victory for Ripple, U.S. District Judge Analisa Torres ruled in 2023 that while Ripple had violated securities laws in its institutional sales, its programmatic sales to retail investors did not constitute an unregistered security offering.

The SEC appealed this ruling in 2024, but its decision to drop the appeal marks the final chapter of the case.

Political Shifts and SEC’s Changing Stance on Crypto

The SEC’s decision to abandon its appeal is part of a broader shift in regulatory oversight following President Donald Trump’s return to office in 2025.

Under former SEC Chair Gary Gensler, appointed by President Joe Biden, the agency aggressively pursued lawsuits against major crypto firms such as Coinbase, Kraken, and Gemini.

Gensler asserted that most cryptocurrencies were unregistered securities and required strict regulatory compliance.

However, following Trump’s victory, the SEC has taken a markedly different approach. Mark Uyeda, a conservative SEC commissioner, took over as acting chair and initiated a restructuring of the agency’s crypto enforcement division.

Pro-crypto Commissioner Hester Peirce has since led efforts to establish a more industry-friendly regulatory framework. As part of this shift, the SEC has dropped lawsuits and investigations into major crypto entities, including Binance, Kraken, Yuga Labs, and Ripple.

The Impact on XRP and the Crypto Market

Crypto heatmap on 20 March | Source: Cryptorank
Crypto heatmap on 20 March | Source: Cryptorank

The SEC’s withdrawal of the Ripple case has significantly impacted XRP, which surged 8.63% on Thursday afternoon.

This price spike is part of a broader trend, with CNBC recently naming XRP “the biggest winner” in the post-election economy. Since Trump’s victory, the coin’s value has skyrocketed by 400%.

Despite this rally, the overall crypto market has faced downward pressure in recent months.

Bitcoin briefly rose above $85,000 following the announcement before experiencing a slight dip. Nonetheless, XRP remains a standout performer, reflecting growing investor confidence in Ripple’s future.

Ripple’s Political Contributions and Future Prospects

Ripple and its executives have actively engaged in political lobbying, contributing over $70 million to the pro-crypto Fairshake super PAC and over $5 million to Trump’s inaugural fund.

These strategic donations underscore the increasing intersection of cryptocurrency and politics, with industry leaders pushing for favorable regulations.

With the SEC lawsuit now behind it, Ripple’s future appears promising. Speculation is mounting about the approval of an XRP exchange-traded fund (ETF), which could further legitimize the asset and drive adoption.

Major investment firms like Grayscale, Bitwise, and Franklin Templeton have already filed for such an ETF, with Bloomberg analysts estimating a 65-75% chance of approval by year-end.

A New Era for Crypto Regulation

The SEC’s recent policy shift signals a new era for crypto regulation in the U.S. The agency has abandoned its 2022 proposal requiring certain crypto firms to register as alternative trading systems, a move that would have imposed stricter oversight.

Additionally, it has initiated a crypto task force to work on defining digital asset classifications and establishing clear regulatory guidelines.

“The system just feels broken,” Garlinghouse said at the Digital Assets Summit in New York. “We had to fight this fight for the industry while the SEC attacked us. There were no victims, no investor losses. They were just not acting in good faith.”

As the SEC takes a more collaborative approach under the new administration, crypto firms are optimistic about regulatory clarity and market growth.

The industry now looks ahead to further developments, including potential ETF approvals and expanded use cases for blockchain technology.

Conclusion

Ripple’s legal victory marks a significant turning point for both the company and the broader crypto industry. As regulatory winds shift in favor of digital assets, XRP’s resurgence highlights investor optimism and the potential for increased adoption.

While uncertainties remain, one thing is clear—Ripple has emerged stronger from this battle, setting a precedent for the future of cryptocurrency regulation in the United States.

About Bitrue
Bitrue is a leading cryptocurrency exchange, offering a wide range of digital assets, innovative features, and user-focused services. Founded with the mission to empower the world’s crypto enthusiasts, Bitrue continues to expand its platform with new products, events, and opportunities for users worldwide.
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