XRP has seen a remarkable surge in value, climbing over $0.6 amidst speculation about the outcome of the Ripple-SEC legal battle. The community awaits a potential resolution that could bring regulatory certainty and open doors for further growth, including the possibility of an XRP-based ETF in the U.S.
XRP has surged past the $0.6 mark, reflecting an 11% increase in the last 24 hours. Over the past week, XRP’s value has risen by 38.10%, surpassing the broader market’s bullish trend. Currently, XRP has reached a four-month high of over $0.61, representing a 60% increase from its value of $0.38 just 12 days ago.
This rapid growth has generated significant discussion in the crypto community. Some commentators, such as Alex Cobb, believe that insiders may have knowledge of upcoming developments influencing the price surge. The Singaporean exchange, Bitrue, echoed this sentiment.
Anticipation centers around the resolution of the ongoing lawsuit between Ripple, the company behind XRP, and the U.S. Securities and Exchange Commission (SEC). The dispute, which involves the appropriate fine for Ripple’s alleged violation of securities laws, is before District Court Judge Analisa Torres. A judgment is expected by July 31, with Ripple and its community hoping for a favorable outcome.
A positive resolution in the Ripple and SEC lawsuit could eliminate regulatory uncertainties surrounding XRP and pave the way for its potential growth. This includes the possible introduction of an XRP-based Exchange-Traded Fund (ETF) in the U.S., which Ripple CEO Brad Garlinghouse has suggested is inevitable given XRP’s prominent position and regulatory clarity.
