XRP experienced a 10% surge on Wednesday during the morning hours in the U.S. This increase followed comments from Ripple CEO Brad Garlinghouse, who indicated that the U.S. Securities and Exchange Commission (SEC) plans to withdraw its appeal against Ripple, the organization closely linked to XRP tokens.
“This is it – the moment we’ve been anticipating. The SEC is going to drop its appeal,” Garlinghouse announced on X. “A striking victory for Ripple, for the cryptocurrency space, no matter how you look at it.”
Recent reports suggested that the protracted legal dispute between Ripple and the SEC may be close to resolution. Garlinghouse referred to the SEC’s lawsuit against the cryptocurrency firm as the “first major shots fired in the war on crypto,” which has led to a staggering $15 billion in losses for XRP investors.