XRP surged nearly 14% Wednesday to roughly $2.56 following Ripple CEO Brad Garlinghouse’s announcement that the U.S. Securities and Exchange Commission (SEC) has officially dropped its four-year lawsuit against Ripple Labs.Widely celebrated within the cryptocurrency community, the development has significantly boosted investor confidence, reflected by a 90% spike in XRP trading volume over the past 24 hours, according to CoinPedia.
Wednesday’s developments have provided renewed clarity on XRP’s regulatory status, offering the cryptocurrency potential pathways for broader institutional adoption. Ripple’s CEO, Brad Garlinghouse, noted during his announcement at the Digital Assets Summit in New York, “The system just feels broken.” He continued, “there were no victims, there was no investor loss.”
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