Ripple's Legal Victory Boosts XRP to 3-Year High, Eyes ETF

Nov 29, 2024, 04:22 PM

Ripple Labs Inc. has secured a significant legal victory as a court granted its motion for final judgment in its ongoing case with the U.S. Securities and Exchange Commission (SEC). This development has reduced uncertainty around the status of XRP, Ripple's native cryptocurrency, potentially boosting institutional confidence. Following the news, XRP's price surged, reaching a three-year high, with a current trading value of $1.61, up 208% in the past month. The cryptocurrency is now the fourth largest by market cap, just behind Solana, and speculation about an XRP exchange-traded fund (ETF) has grown. XRP is currently 52% below its all-time high of $3.40, but market observers are optimistic about its potential to surpass Solana in market capitalization.