XRP Jumps 10% After Second Circuit Dismisses Ripple Lawsuit
Ripple’s nearly five-year legal battle with the U.S. SEC reached closure when the Second Circuit approved a joint stipulation to dismiss appeals by both parties. Confirmed via attorney James K. Filan’s August 22 tweet, this follows a March settlement proposal that included a $50 million penalty but awaited court sign-off. The dismissal removes a major regulatory overhang for XRP, sparking a 10% price surge from under $2.80 to nearly $3.10 within hours. The rally coincided with broader market gains after Fed Chair Jerome Powell hinted at possible rate cuts. Traders should prepare for potential short squeezes and heightened volatility in XRP trading.
Bullish
The dismissal of appeals by the Second Circuit removes a major legal overhang for XRP, boosting investor confidence and triggering a rapid price increase. Similar regulatory clarifications in the past, such as the approval of Bitcoin ETFs, have led to strong bullish rallies by eliminating uncertainty. In the short term, the sudden 10% surge may spark short squeezes and heightened trading volume, while long-term, the resolution paves the way for renewed institutional interest and potential listing opportunities. Overall, the news marks a significant positive catalyst for XRP, suggesting sustained upward momentum if no new legal challenges emerge.