The storm clouds against Ripple (XRP) ended. XRP could rise from here after Ripple CEO Brad Garlinghouse said that the Securities and Exchange Commission will not pursue its appeal.
The SEC sued Ripple over four years ago for breaching securities laws. The company sold XRP without registering with the SEC first. In 2023, a judge ruled in favor of Ripple. After that, XRP was still considered a security sold to retail investors as unregistered.
In February, the SEC ended its cases against Coinbase (COIN). It also closed its investigation into Robinhood (HOOD). The regulatory shift suggests that cryptocurrencies will continue to increase in value as a means of exchange.
XRP gained less than 2 percent in the last week and is down 7.7 percent in the last month. Still, it tripled in value in the last year. By comparison, Bitcoin (BTC-USD) is up by 32%. Unusually, Ethereum (ETH) is down by 40% in the last year.
ETH is under pressure. Later-2 scaling solutions are a headwind for this crypto. Transactions moved away from the mainnet. As a result, Ethereum’s fee income fell from $218 million in December to $46 million in February. This data is according to DeFiLlama.
