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Ripple Finally Slayed the SEC Dragon: Is XRP Price About to Deliver an Altcoin Bull Run?
- After nearly four years of battle, the U.S. SEC ended its legal fight with Ripple, leading to a significant XRP rally with a nearly 7% increase in the past 24 hours and weekly gains over 15%.
- By dropping the case and not appealing, the SEC removed a major burden from XRP and Ripple, indicating a victory for Ripple and the broader crypto market.
- The SEC's December 2020 lawsuit alleged that Ripple illegally raised $1.3 billion through an unregistered securities sale, a claim Ripple had been contesting for four years.
- The case's conclusion is crucial not only for Ripple but also for the crypto market, as it avoids setting a precedent of classifying digital assets, especially those from U.S. founders, as securities.
- Under Biden's administration, the SEC aimed to regulate cryptos as securities, potentially subjecting most tokens to stricter financial regulations, similar to stocks and ETFs.
- With the new Trump administration, regulatory policies are shifting positively for crypto development, as seen with David Sacks as the crypto and AI czar advocating for a favorable environment.
- Trump's pro-crypto stance has led to the withdrawal of lawsuits against various crypto firms and exchanges by the SEC, promoting a more supportive industry landscape.
- The withdrawal of the SEC case against Ripple signals relief for crypto firms, allowing them to focus on growth rather than legal battles.
- Bitnomial launched CFTC-regulated XRP futures in the U.S., and spot ETF applications for XRP are in progress, showing positive market developments for XRP.
- XRP remains in an uptrend but is consolidating after reaching $3.4 in January 2025. Strong support is seen at $2, indicating potential for a push to new highs with increasing whale holdings and on-chain activity.
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