The price of XRP witnessed a significant surge, climbing 10.5% to $3.32 within 24 hours following the conclusion of Ripple’s high-profile legal dispute with the U.S. Securities and Exchange Commission (SEC). The settlement appears to have restored investor confidence in the asset.
The resolution spurred gains across other major altcoins. XLM (Stellar Lumens) experienced a notable increase of 14.6%, while LINK (Chainlink) rose 14.0%. This positive momentum contributed to a broader market uplift, with the global cryptocurrency market capitalization rising by approximately 1.2% to reach $3.89 trillion.
Investors demonstrated strong confidence in XRP in the wake of the case’s end, with sentiments rising in anticipation of the coin potentially achieving new price highs. The SEC case had centered on allegations that Ripple’s institutional sales of XRP violated securities regulations. While the specifics confirmed regulatory breaches related to institutional offerings, market sentiment reacted positively overall to the certainty provided by the case’s conclusion.