XRP Soars as Ripple Settles SEC Lawsuit, Token Jumps 26% in Minutes

XRP's price shot up 26% recently. This happened as Ripple's lawsuit with the SEC seemed to be wrapping up. It's just a $125 million fine, not a billion case, as it turns out. And, what's even more important, there's no indication XRP will be labeled a security. A turning point for crypto industry.

A New York federal judge is close to ending a three-year securities lawsuit against Ripple Labs. Ripple's bigwigs are calling this a "win" for the industry. And nobody blames them, obviously. The news sent XRP's price through the roof. And that is a clear win, beyond any doubt.

The judge ordered Ripple to cough up $125 million in civil penalties. They also said Ripple can't break U.S. securities laws anymore. This is part of the SEC's case against them.

Cointelegraph says this ruling looks like the final stretch of Ripple's SEC drama. The lawsuit kicked off back in December 2020. It's been a long haul.

When the news hit, XRP went nuts. It jumped 26% to $0.63. This erased most of its losses from the recent crypto slump. CoinMarketCap data backs this up.

As I'm typing this, XRP is trading at $0.59. The market's still buzzing.

Ripple's CEO, Brad Garlinghouse, didn't mince words on X. He called it "a victory for Ripple, the industry and the rule of law." He reckons the SEC's beef with the XRP community is over.