- XRP broke above $2.5 resistance for the first time in two weeks, claiming a high of $2.59
- Brad Garlinghouse confirmed that the SEC is dropping its appeal against Ripple Labs
- XRP reclaimed the 20-day EMA, a line that now acts as support, which if it holds, could push XRP to $3
XRP has surged in value following Ripple’s victory in its long-standing battle with the SEC, triggering a powerful rally that has broken through key resistance levels. Ripple CEO Brad Garlinghouse himself confirmed the close of their long-running lawsuit with the United States Securities and Exchange Commission (SEC).
Data from CoinMarketCap shows the cryptocurrency surged past the $2.50 resistance mark, hitting a daily high of $2.59. Investors are celebrating this price jump, which coincides with the conclusion of the SEC lawsuit filed back in 2020.
Ripple Claims Victory
After four years of legal wrangling and millions spent on fees, the SEC decided to drop its appeal against Ripple, officially closing the case.
The lawsuit, which had accused Ripple of an unregistered securities offering worth $1.3 billion, has been a major point of contention in the crypto world. With this le…
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