“Wahhh very shocking news, is it time for XRP price to break $1?”
The XRP cryptocurrency founded by blockchain payments firm Ripple Labs has surged to $0.53 as the Securities and Exchange Commission (SEC) dropped charges against Chief Executive Officer (CEO) Brad Garlinghouse and founder Chris Larsen.
Ripple Labs said the SEC has voted to dismiss the lawsuit without prejudice, so this could be seen as a major win for the firm which previously also managed to secure a victory when Judge Analisa Torres ruled XRP was not a security.
There is no denying that the SEC has dropped the allegations, but Ripple Labs still intends not to give up and work on getting clearer digital asset regulations in the United States (US).
It is well known that the SEC which has had several victories against crypto firms in the past does not seem to be the same this year following their repeated failures.
As proof, the regulatory status of XRP has caused Grayscale Investments to win another victory in its efforts to convert the Grayscale Bitcoin Trust (BGTC) product into a Bitcoin Exchange Traded Fund (ETF).
Digital assets such as Cardano (ADA), Solana (SOL), Binance Coin (BNB) and Polygon (MATIC) which are also targeted by the SEC can see a positive impact following the latest news which can also prompt the approval of spot BTC ETFs to be accelerated.
As of this writing, XRP price has surged by 5.84% to $0.51 in the last 24 hours with a market capitalization of $27 billion and is up 6.46% over the past week.
