Ripple has officially withdrawn its appeal in the ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC) that has lasted for years. Thus, one of the most discussed legal battles in the crypto world has definitively come to an end.
It is expected that the SEC will also withdraw its own appeal. In this case, the significant decisions made by Judge Analisa Torres in 2023 will remain valid. Torres ruled that Ripple's institutional XRP sales violated securities laws while ruling that sales conducted through exchanges do not fall under the scope of securities. Ripple CEO Brad Garlinghouse stated on his X (formerly Twitter) account, "We are closing this chapter forever."
Leading legal expert Attorney Bill Morgan also evaluated this development as a "rational victory" not only for Ripple but for the entire crypto sector.
The parties had previously requested to reduce the $125 million fine to $50 million and to lift the permanent injunction; however, the court rejected these requests.
Highlighted Legal Outcomes:
XRP is not seen as a security in sales on public exchanges
Restrictions on institutional sales will continue
Ripple will pay a fine of $125 million
The company can focus on growth and partnership efforts
The market reacted quickly to the end of Legal Uncertainty
The official closure of the lawsuit process between the SEC and Ripple has created a positive atmosphere among XRP investors. Following the news, XRP rose by 4.7% in the last 24 hours, reaching $2.19. Ripple's legal chief Stuart Alderoty reaffirmed that XRP is not classified as a security. This situation strengthens the token's role in institutional finance and cross-border payments.
Legal clarity provides Ripple with the opportunity to use XRP more effectively in tokenized financial products and corporate payment systems. Analysts note that the complete closure of the case increases expectations for a spot ETF for XRP and that interest from institutional investors may be revived. Ripple can focus on growing and expanding financial integration without legal burdens.
XRP Technical Analysis: Strengthening Bullish Signals
In the 4-hour chart of XRP, a symmetrical triangle formation is seen where the price is trapped just below the $2.21 resistance. Rising lows starting from $1.99 create a strong support trend line, while the descending line above currently limits upward attacks.
The golden cross formed by the 50 and 200-day EMAs confirms the upward trend. The MACD indicator is giving positive signals; the MACD histogram has turned green and crossed with the signal line. Additionally, the bullish marubozu candle appearing at the resistance point indicates that buyers are testing the supply area.
Trade Suggestions:
Entry: Purchase can be made with a closing above $2,215 (breakout confirmation)
Target 1: $2,288
Target 2: $2,338
Stop-loss: below $2,139 (below EMA support and trend line)
If the resistance cannot be breached, a possible pullback to $2.14 may present a second buying opportunity. If the breakout is confirmed, the price has the potential to quickly rise towards the psychological level of $2.50. In a broader bullish run, $3.50 can be targeted.
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