For years, a significant lawsuit involving the cryptocurrency community has finally concluded, leaving investors both excited and hopeful. The United States Securities and Exchange Commission (SEC)’s lawsuit against Ripple 
$1 is officially closed. This outcome rekindles memories of the turbulent past days when XRP’s price plummeted, and exchanges delisted the altcoin, leading to uncertainty. However, things seem to be changing now.
The End of Ripple-SEC Conflict Marks a New Era
Recently, Ripple’s Chief Legal Officer, Stuart Alderoty, made a statement that garnered attention. During the “Crypto In One Minute” program, he explicitly announced that the SEC has entirely closed all its cryptocurrency lawsuits. Although the appeal was withdrawn a few months ago signaling the end of the lawsuit, this declaration conclusively emphasized the closure. Some voices on social media claim “the lawsuit isn’t truly over,” but Alderoty’s statement aligns with the dispute being concluded.
During his announcement, Alderoty emphasized the lack of regulations as the fundamental issue from the beginning. Experts also sided with this view, noting the SEC’s struggle to comprehend this new realm with outdated laws. This approach harmed the sector and left investors in limbo. Alderoty’s assertion that “You can’t penalize a sector without rules” is particularly noteworthy.
Could XRP ETF Become a Reality?
Ripple not only emerged unscathed but also evolved into an influential player guiding the industry. Their active involvement in drafting new cryptocurrency regulations fills investors and supporters with pride. According to Alderoty, the goals are to protect investors from fraud, solidify the market, prevent illegal activities, and foster innovation. Investors believe in this vision as the pursuit for the future of cryptocurrencies should extend beyond price charts into legal frameworks.
More promisingly, Ripple’s Chairman Chris Larsen meeting with SEC’s new Chairman Paul Atkins adds fuel to discussions on XRP’s status. Held on May 2nd, this meeting is expected to shed light on XRP’s classification. Atkins, more crypto-friendly than previous SEC Chairman Gary Gensler, is believed to be initiating a true transformative process.
Now, the most exciting prospect: the approval of an XRP ETF. Bloomberg analyst Eric Balchunas estimates an 85% probability for a spot XRP ETF approval this year. Imagine, after such a prolonged legal battle, XRP transforming into an ETF would be a huge leap forward for both investors and the market.
Currently, XRP is trading at $2.23, with over a 3% increase in the last 24 hours.
