What is the reason behind the rise in the price of the cryptocurrency Ripple (XRP)?

#CryptoComeback

The price of the cryptocurrency Ripple has seen a significant increase in recent hours, with a rise of 9% in the last 24 hours coinciding with the overall upward trend in the market.

The reason for the increase in the price of Ripple came after the U.S. Securities and Exchange Commission (SEC) announced that it had reached a final settlement with Ripple Labs, which included a fine of $50 million.

This announcement ended a long legal dispute that lasted for years regarding the sale of XRP, during which the SEC had demanded damages of up to $2 billion, before it was later reduced to $125 million and then settled at only $50 million.

The value of XRP rose by about 6% within 24 hours of the settlement announcement, due to optimism in the markets following the end of the regulatory threat that had burdened the currency.

This rise reflects investors' response to the resolution of the case, especially after the court confirmed that the programmatic sales of the currency through trading platforms do not constitute a violation of securities laws, which is considered a legal precedent in favor of similar cryptocurrency projects.

The shift in the SEC's position, under the leadership of “Paul Atkins” after “Gary Gensler”, also contributed to creating a more lenient regulatory environment, which increased investor confidence.

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