In a surprise move that energized the crypto community, Ripple Labs has officially withdrawn its cross-appeal in the ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). This significant legal shift has sent ripples through the market โ pun intended ๐ โ and pushed XRP above the critical $2.19 level ๐.
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๐งโโ๏ธ What Happened?
After years of courtroom clashes, Ripple has decided to drop its cross-appeal, bringing the lawsuit much closer to its final chapter. The SEC previously accused Ripple of selling XRP as an unregistered security. Now that Ripple is backing off, all eyes are on the SEC. Will it drop its own appeal next? ๐จโโ๏ธโ๏ธ
If it does, the ruling that XRP sales on exchanges are not securities would stand โ opening the door wide for U.S.-based XRP ETFs ๐ช๐.
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๐ฅ XRP Price Reaction
The market cheered the legal progress:
๐ XRP rose 5-6% in 24 hours
๐ Trading volumes surged across major exchanges
๐ข Over 1.1 million active addresses signaled strong blockchain activity
This bounce is especially meaningful as it puts XRP back in the spotlight ahead of what could be the next big ETF listing ๐.
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๐ฎ Whatโs Next for XRP?
Hereโs what traders and investors are watching:
1. SEC Response โ If the SEC drops its appeal too, it could finalize the XRP ruling ๐จ
2. Spot XRP ETFs โ Investment firms are preparing to file or launch XRP ETFs, especially after Canadaโs recent XRP ETF launch ๐จ๐ฆ๐
3. Whale Accumulation โ Large investors are steadily increasing holdings ahead of possible big moves ๐ณ๐ฐ
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๐ Final Thoughts
With the legal fog finally clearing, XRP may be poised for a major comeback ๐. The crypto world is watching closely as Ripple edges toward regulatory clarity โ and the potential for institutional-grade products like ETFs.
Whether youโre a long-term holder or a curious trader, now is the time to pay attention. XRPโs next breakout might just be around the corner ๐๐ #XRPNews #RippleVsSEC #CryptoETF #XRPArmy #AltcoinSeason $XRP