Waiting is finally over for the XRP community. The Ripple and the US Securities and Exchange Commission (SEC) have officially repaired their long legal battle. Following this announcement, the price of XRP advanced 8%, reaching $ 2.31.
What happened?
After years of the court drama, both Ripple and the SEC filed a joint movement in the US district court for the Southern District of New York, confirmed that they had reached a negotiation. As part of the Agreement:
- Ripple will pay $ 50 million to Sec.
- Another $ 125 million, currently held in Escrow, will be released – with a part going to Ripple.
Crypto experts and supporters of XRP believe this is a moment that changes the game for the entire financial system. Now that the legal battle is behind it, the XRP is more easily adopted by banks, financial institutions, and investors without a cloud of uncertainty hanging on it.
Legal experts like James K. Filan, a former federal prosecutor, called the moment “massive,” as the leaders of the XRP community celebrated the success, reminding everyone about the rising crypto journey.
Does XRP price hit $ 3?
XRP saw a strong and unexpected breakout, pushing above the basic levels. Breakout is important above $ 2.17 because it shows that consumers walk again. If this level continues to hold, the XRP is likely to return to the previous trading range – and from there, the next target price can break $ 2.30 with confirmation. If the momentum continues and Bitcoin remains strong, the XRP may also push over $ 2.40 and higher in the coming days or weeks. Experts also predict that XRP can climb above the level of $ 3.
