Breaking News: SEC Ripple Lawsuit is Officially Dropped! XRP Price to the Moon?

On Wednesday, Ripple CEO Brad Garlinghouse took to X to declare a “resounding victory” for Ripple and the broader crypto industry. “This is it — the moment we’ve been waiting for. The SEC will drop its appeal — a resounding victory for Ripple, for crypto, every way you look at it,” Garlinghouse said.

Although the SEC has not publicly confirmed the decision, it has also declined to comment, fueling speculation that Ripple’s announcement is accurate.

XRP ETF Optimism Grows

Following the news, bettors on Polymarket increased the odds of an XRP ETF being approved this year from 77% to 79%. The rising optimism is part of a larger trend in the crypto market, as the SEC has been flooded with altcoin ETF applications in recent months.

Since former SEC Chair Gary Gensler stepped down on January 20, following Donald Trump’s inauguration, the agency has taken a markedly different approach toward crypto regulation. Trump has pledged to roll back regulatory crackdowns imposed by the Biden administration, giving crypto advocates renewed hope for ETF approvals.

Massive Inflows Expected for XRP ETFs

Major financial institutions are predicting significant inflows into XRP ETFs if they receive approval. Virtual asset service provider Northstake estimates that investors could pour up to $800 million into XRP ETFs within the first week of trading. JPMorgan analysts take an even more bullish stance, forecasting that XRP funds could attract $8 billion in their first year.

XRP, the digital asset used by Ripple to facilitate cross-border payments, has surged 14.3% in the past 24 hours and is now up 250% over the past year.

With the SEC set to make its final decision on XRP ETF applications by mid-October, the crypto market is bracing for what could be another historic moment in the industry.

XRP Price Prediction: How High Will XRP Price Reach?

XRP, the digital asset used by Ripple to facilitate cross-border payments, has surged 14.3% in the past 24 hours and is now up 250% over the past year.

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XRP/USDT 4-hours chart - TradingView

XRP's price jumped more than 10% and is currently trading at $2.50. The price is eyeing a return to the $3 mark, and if broken soon, we should expect higher highs in Q2 of this year 2025.