The war on crypto, which started with the US Securities and Exchange Commission suing Ripple, is now over.
Rippe CEO Brad Garlinghouse has announced that the SEC has agreed to drop its lawsuit against the crypto company, ending the over 4-year-long legal battle with a landmark victory for crypto.
Pending the formal vote by the Commission, the SEC will withdraw its appeal of Judge Analisa Torres’ July 2023 ruling.
The XRP price has skyrocketed by over 10% following Garlinghouse’s announcement, trading at $2.52 at press time.
XRP price predictions from prominent analysts reveal a strong possibility of bullish continuation. However, sidelined investors still need to exercise caution.
SEC Drops Ripple Lawsuit
In one of its final acts under the ex-Chair Gary Gensler, the SEC appealed a part of Judge Analisa Torres’ July 2023 ruling.
In a landmark judgement, Torres had ruled that XRP isn’t a security in itself. She awarded Ripple a partial but key victory, ruling that the company’s programmatic sales did not violate the Securities Act, even as its institutional sales did violate the law.
Gensler’s SEC appealed her programmatic sales ruling earlier this year, which it is now expected to drop, implicitly confirming that XRP’s non-security status is the law of the land.
Ripple hasn’t dropped its appeal of Torres’ $125 million fine for its illegal institutional sales. If the agency agrees to reduce the fine in exchange for Ripple dropping its appeal, it would provide another bullish boost to XRP.
Garlinghouse has already claimed victory, and for good reason. The odds of spot XRP ETF approval are back up to 80%, now that the asset’s non-security status is the law of the land. Significant institutional investment could now follow.
XRP Price Prediction — Why Investors Should Still Exercise Caution?
There is a strong consensus that the cycle top isn’t in for XRP just yet.
XRP price predictions from prominent analysts suggest that the asset would likely peak in the $5 – $8 range in 2025, making it one of the best crypto assets to buy now.
However, analyst Crypto Tony reveals that XRP is still likely to continue sideways movement and could even see further downside before its bullish reversal.
Sidelined investors should either wait for a successful retest of the $2.20 level or a breakout from $2.80 before buying XRP.
Other Best Cryptos To Buy Now
Besides XRP, Ethereum has also impressed investors with its bullish strength.
The ETH price has surged past $2000 on Wednesday. Sidelined investors are hoping for a monthly close above $2200, which would pave the way for a rally to $3,900.
High-upside assets within the Ethereum ecosystem are also in high demand. For instance, Ethereum Name Service and Pepe are up by double digits as smart money investors continue to view them as beta bets on ETH.
One of the first prominent AI agent cryptos built on Ethereum, MIND of Pepe (MIND), is also in high demand.
The MIND presale has surged past the $7.4 million mark behind strong whale and retail interest.
ETH maxis largely remained sidelined from this year’s AI agent mania on Solana and are now gearing up for the second round by investing heavily in projects like MIND.
MIND of Pepe’s cutting-edge AI agent design promises alpha market signals for MIND holders, besides discounted access to coins created by it.
Considering its strong whale demand and small market cap, it is no surprise that early MIND buyers are eyeing up to 100x returns from their investments.
