Ripple’s legal war with the U.S. Securities and Exchange Commission (SEC) is officially nearing its end, and the crypto market is already responding. XRP, the native token of Ripple, surged over 8% in early Thursday trading after news broke that the SEC and Ripple had filed a joint request for an indicative ruling to finalize a settlement agreement.
XRP Price | Source: CoinMarketCap
At the time of writing, XRP is trading around $2.28, up 7% in just 24 hours earlier. While the price has corrected a bit for now, since the announcement the rally was strong enough to break $2.3 today.
Analysts now eye resistance at the $2.5 level, with some suggesting a breakout to $3 is possible. And if settlement approval comes swiftly and macro conditions remain stable the price predictions wild enough to $7 and $20.
The final ruling is still pending, the market is clearly betting on a favorable outcome. Should the court approve the joint request, XRP could be primed for a massive rally.
XRP’s price jump is a clear signal of market optimism. Traders and long-time holders see the settlement as the final chapter of a regulatory saga that began in 2020 and cast a shadow over XRP’s performance for years.
