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Cryptocurrency News Articles

Ripple’s Victory Unveils a New Era: How XRP’s Legal Success Might Reshape Cryptocurrencies

Nov 30, 2024 at 12:45 pm

Following Ripple’s groundbreaking legal triumph, new perspectives emerge around the implications for not just XRP holders but the broader cryptocurrency landscape.

Ripple’s Victory Unveils a New Era: How XRP’s Legal Success Might Reshape Cryptocurrencies

A U.S. court has dismissed all primary claims in a major class-action lawsuit against Ripple, XRP II LLC, and their CEO, Brad Garlinghouse, regarding alleged securities law violations related to XRP sales, according to a recent report by crypto-focused publication Bitcoinit on the 29th. This decision builds upon an earlier 2022 determination by Judge Analisa Torres, further solidifying Ripple's position that XRP is not classified as a security. The court also decided to hold off on any relief claims pending additional appeals, providing Ripple with a temporary legal reprieve.

The recent announcement by SEC Chair Gary Gensler regarding his planned departure in January 2025 has fueled anticipation of regulatory leniency towards XRP. Coinciding with this news, XRP's price surged past $1, with recent trades hitting approximately $1.80. This reflects the market's optimism that Ripple might gain further leverage post-lawsuit settlement with the SEC.

Cryptocurrency analysts are eyeing a potential breakout for XRP, suggesting it might soon surpass the $2 mark. A notable analyst, known as CrediBULL Crypto, believes XRP is signaling a strong intent to reclaim its top-three market cap position, echoing its status prior to the 2020 SEC lawsuit initiation.

Ripple's courtroom victory coupled with anticipated regulatory shifts from the SEC are viewed as pivotal factors supporting XRP's upward trajectory, restoring market trust and spotlighting potential continued price elevation.

News source:bitperfect.pe

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