SEC Settlement Catapults XRP 23% as $0.65 Comes Into View

A judge has ordered Ripple to pay just over $125 million in civil penalties, officially ending the SEC’s lawsuit & concluding that XRP is not a security. The lawsuit has gone on for two years, but the decision finally puts a nail into the lawsuit for good. Now that Ripple Labs has seen a favorable result from the lawsuit, XRP is soaring in price.

At press time, Ripple XRP is trading at $0.6248, a 22% climb in the last 24 hours. Since Wednesday afternoon, the asset has climbed over 12 cents and isn’t slowing down. This result was expected, as many predicted XRP to soar following a win in the Ripple vs SEC lawsuit. Despite needing to pay a $125M fine, the overall result is a win for Ripple and all of crypto.

Additionally, the demand for Ripple’s native cryptocurrency, XRP, has seen a sharp rebound in top cryptocurrency exchanges in the US. Kaiko Analytics shared a report showing that demand for XRP rose from less than 2% to 14% in a month. The rebound in demand for Ripple’s native token is a testament to investors’ optimism about XRP’s price prospects. This demand only grew following Judge Torres’ official decision.

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Ripple’s XRP To Reach $0.65?

Ripple XRP price is extremely bullish now that Ripple Labs has gotten positive news from the SEC lawsuit. It is already up 43% in the past 30 days and could continue with the momentum. The recent market crash caused its price to fall, but altcoin is recovering slowly along with the rest of the crypto market. It is just as likely for XRP to reach $.70 over the upcoming weekend, so long as there’s no major crash again.

The decision is also expected to positively impact the entire crypto market, something that has desperately been needed following the recent market crash. The win of XRP not being classified as a security is a big one for the way the SEC regulates other cryptocurrencies. Due to the ongoing rebound in the market, the Ripple/SEC decision could cause other altcoins to rally as well.

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Bitcoin is also on the rebound, which will cause tokens like XRP to climb. BTC is back climbing towards $60,000, up 7% on Thursday in just 24 hours. The leading cryptocurrency by market cap tends to curate a path for other crypto coins to follow, including XRP. Once BTC surpasses $60,000, the entire market may begin to rally further.

In a brief statement to X, Ripple CEO Brad Garlinghouse shared his respect for the court’s decision. “This is a victory for Ripple, the industry, and the rule of law. The SEC’s headwinds against the whole of the XRP community are gone.”