Ripple and the SEC have agreed to pause their legal proceedings, awaiting the final approval from the new SEC Chair, Paul Atkins. This settlement has been highly anticipated in the crypto industry and is expected to bring an end to the ongoing legal battle between the two parties. Once Atkins is sworn in, the agreement is likely to be greenlit, providing clarity and resolution for Ripple moving forward.
In the midst of the legal pause, Ripple is making significant moves to expand its institutional strategy. The acquisition of Hidden Road, a prime brokerage serving over 300 institutional clients, has fueled speculation about potential partnerships with major U.S. banks. This expansion strategy has contributed to a 13% surge in XRP this week, indicating positive market sentiment and investor interest in Ripple’s growth prospects.
As investors await the outcome of the SEC settlement, the focus is turning towards Ripple’s future growth and market outlook. XRP’s price has remained steady at $2.10, showing signs of consolidation. Technical indicators such as the MACD and RSI suggest a neutral outlook for XRP, with potential for renewed upside if it breaks above $2.20. However, failure to hold the $2.00 level could invite short-term bearish pressure. Overall, XRP appears poised for its next major move but lacks strong buying pressure at the moment.
Ripple’s global payment network continues to gain traction, with strategic partnerships like the recent collaboration with Chipper Cash showcasing the company’s ambition. The potential for future XRP ETFs and partnerships with major U.S. banks could further propel XRP’s growth and utility. The acquisition of Hidden Road could channel billions in daily transactions towards the XRP Ledger, enhancing its real-world utility and market presence.
While the legal pause provides a temporary reprieve from the courtroom tensions, the waiting game for the final settlement approval from Paul Atkins adds a layer of uncertainty to Ripple’s future. Once the agreement is greenlit, Ripple can move forward with its expansion plans and capitalize on the growing interest in XRP. With XRP’s price showing signs of consolidation and technical indicators suggesting a neutral outlook, investors are closely monitoring Ripple’s next moves and market developments.
