Ripple recently secured a major win in a class action suit against the crypto firm, XRP II LLC, and CEO Brad Garlinghouse. This victory has led to a bullish outlook for the XRP price, with analysts predicting that it is well-positioned for another leg to the upside. The court ruled in favor of the defendants, granting a joint motion for entry of motion and stay as modified by the court. The US District Judge also stated that there is no just reason to delay entry of judgment based on the record and the reasons provided by the parties in their motion. In response, the judge ordered entry of judgment in favor of the defendants for several class claims, including the violation of the Securities Act for the unregistered offer and sale of XRP.
According to industry experts, the XRP price is set to surge as a result of these developments. Crypto analysts have predicted that XRP is ready for its next leg to the upside, with some suggesting that the crypto could reach $2 in the near future. Additionally, there is a sense that XRP is aiming to reclaim its position as one of the top three largest coins by market cap, a spot it held before the Ripple SEC lawsuit began in 2020. At the time of writing, the XRP price is trading at around $1.60, showing a positive increase of over 6% in the last 24 hours.
The decision in the class action suit further reinforces the notion that XRP is not a security, with Judge Phyllis Hamilton staying the Plaintiff’s claim for relief against the defendants until the final resolution on any or all appeals of the class claims. This ruling aligns with a previous decision made by Judge Analisa Torres last year. Meanwhile, the announcement of SEC Chair Gary Gensler’s resignation on January 20, 2025, has also had an impact on the XRP price. With the cryptocurrency breaking above $1 and currently enjoying bullish momentum, many are speculating on what Gensler’s departure could mean for the crypto market.
In the midst of these developments, crypto analysts are closely monitoring the XRP price and making predictions about its future movement. While some believe that the XRP price has already started its movement towards $2, others are looking at its potential to reclaim its position as one of the top three largest coins by market cap. The cryptocurrency market is known for its volatility, and the XRP price could continue to experience fluctuations in the coming days and weeks. Overall, the recent legal victory for Ripple has provided a positive boost to the XRP price, and investors are eagerly awaiting the outcome of any potential appeals in the class action suit.
It is worth noting that XRP had occupied the top three spot alongside Bitcoin and Ethereum before the Ripple SEC lawsuit began in 2020. The current surge in the XRP price suggests that investors are regaining confidence in the cryptocurrency, and many are hopeful that it will continue to rise in value in the future. As the market reacts to the recent legal developments and news surrounding SEC Chair Gary Gensler’s resignation, the XRP price is expected to remain in the spotlight. With the crypto market experiencing increased interest and activity, the XRP price could see further gains in the coming weeks.
In conclusion, Ripple’s recent legal victory in the class action suit against XRP II LLC and CEO Brad Garlinghouse has provided a boost to the XRP price, with many analysts predicting that it is poised for another leg to the upside. The court ruling in favor of the defendants has further reinforced the notion that XRP is not a security, leading to a positive outlook for the cryptocurrency. As the XRP price continues to experience bullish momentum, crypto analysts are closely monitoring its movement and making predictions about its future performance. With the market reacting to recent developments and news surrounding SEC Chair Gary Gensler’s resignation, the XRP price is expected to remain in focus in the near future.
