End of 5 Years of Legal Issues: Ripple Escapes Trouble, XRP Rises to $2.16

After nearly five dramatic years in court, the Ripple vs. SEC lawsuit has finally reached its final chapter. In a joint move, Ripple and the Securities and Exchange Commission have requested the New York court to release $125 million in escrow, marking the end of a long battle. Meanwhile, XRP is no longer considered a security in the secondary market, causing the price of XRP to rise to the sky, now trading at around $2.15. Submit Ripple and SEC Joint Application The incident began in December 2020 when the Securities and Exchange Commission of the United States first sued Ripple, accusing the company of raising $1.3 billion through the sale of unregistered XRP. Currently, after many important rulings and appeals, both Ripple and the SEC have reached a final agreement. According to their joint filing, 50 million dollars from the escrow account will be transferred to the SEC as a civil penalty, while Ripple will receive the remaining 75 million dollars, subject to court approval. In a letter sent to the court, the parties stated that this move would avoid further appeals and officially close this lengthy lawsuit. The Legal Status of XRP is Now Clear This move comes after the 2023 ruling by Judge Analisa Torres, which clarified that XRP is not a security when traded on the secondary market. That ruling has provided a significant boost in credibility for Ripple and the cryptocurrency industry as a whole. However, the court also found that the early sale of XRP to qualified institutional investors is considered a security. Even Ripple's CEO, Brad Garlinghouse, praised the SEC's decision to withdraw its appeal, calling it a "watershed moment" for the entire industry. The price of XRP remains stable. After the news, XRP has shown signs of recovery despite the recent market decline. The token is currently trading at around $2.16, reflecting a rise to the sky of 2.45% in the last 24 hours. Meanwhile, experts see the main resistance level at $2.35, with the potential to rise to $2.44–$2.60 if the upward momentum is built. On the downside, the support level is near $2.05.