Ripple, It's a popular cryptocurrency project in the market and its coin is called X R P. This coin is also known as the banking coin and because of this expectations are high in the market. The project has been struggling in the market because of the lawsuit filed by the Security and Exchange Commission in the US.
The prices did not appreciate much in the last crypto bulletin cycle because of this ongoing lawsuit. Now things are changing in the United States after Trump has taken over the President position. Trump is somehow good for the cryptocurrency market and this is one of the effects that we can see happening for the betterment.
Now the Ripple CEO has announced that the Security and Exchange Commission has dropped its four-year-old lawsuit case against Ripple. This is big news for the XRP community and after this news, a slight price appreciation can also be seen in the coin price.
Ripple said this week that the SEC had officially dropped its four-year-old lawsuit against the company. The announcement ends a long battle between the regulator and the crypto industry.
It's a big win for the company and the entire ecosystem because now they will be able to do business as usual without worrying that they will be marked as securities. The different rules and guidelines must be followed if something is considered at security and there are many limitations also.
Now because the Security and Exchange Commission which is also known as SEC has dropped the case it is going to help Ripple company focus more on growth. People are saying that xrp will be for $5 more which might be possible now but prediction is never an easy game. This is the coin that is listed on almost every exchange and it is one of the top 5 coins in the market cap according to its market capitalization.
It shows that the project is strong according to the community and it might grow more if things go well without any lawsuit in place against the company. It is good news for investors who invested their money in this project but maybe it will take some time for the value appreciation to happen in a significant manner. But at least for now, this news can be considered good news for the crypto community.
The current market is bearish but if there is so much positive news around we can hope things improve and possibly that can also trigger the bull run which is mostly awaited.