SEC has dismissed the case it brought against Ripple, the first case in cryptocurrency history. The action provided Ripple with a chance to close the gap and find its way into the entry room through Bitnomial through XRP futures contracts. All these are a future reconfiguration of regulation that will determine future transactions in digital currency.
SEC’s Long-Delayed Battle with Ripple Finally Ends
The SEC initially brought suit against Ripple in December 2020 for the sale of $1.3 billion worth of unregistered securities in XRP. Ripple has battled for years, and the historic court decision in July 2023 concluded that programmatic XRP sales were not sales of securities, but institutional sales were illegal.
The SEC voted to drop only its appeal of the court decision in favor of Ripple, but the case remains pending in some capacity because of a cross-appeal. The reversal will put them in the position of plaintiff, where they would have greater control over what comes next, Ripple CEO Brad Garlinghouse explained. This is important because it sets a precedent that could determine how regulatory agencies classify digital assets in the future.
Bitnomial Rolls Out XRP Futures Following SEC Decision
To stay regulatory in sync, Bitnomial Derivatives Exchange announced that it will launch CFTC-approved XRP futures. Bitnomial is emulating Ripple’s success after withdrawing its case against the SEC, which it originally filed to battle the SEC’s regulation of XRP futures.
“Bitnomial is introducing the very first ever CFTC-regulated $XRP futures in the US — physically settled on a real market influence,” the exchange further stated. It will be available from 20th March 2025 and will bring retail and institutional investors into the new tradable XRP universe. It is an enormous vote of confidence and will definitely push the XRP market and total crypto derivatives demand forward.
XRP On-Chain Activity Boost
As regulatory clarity is also growing, XRP itself saw a spate of on-chain activity as well. The latest data reported a new record high in payments that were settled on the XRP Ledger in a single day. The growth is typically in tandem with greater market interest and potential price action.
XRP is currently trading at about $2.29, with resistance points at key levels. Experts have noted that a smooth price above the 50-day Exponential Moving Average (EMA) can be an indicator of a bullish trend. XRP maintaining the trend and conquering resistance levels, experts predict a potential price at $2.50 to $2.60.
SEC Drops XRP Lawsuit: Implications for the Crypto Market
The SEC’s retreat in the case against Ripple is favourable to Ripple but also signifies a broader potential reversal in cryptocurrency regulation. On the basis of recent SEC activity, Bitnomial’s expansion into the XRP futures space can serve as an example strategy for derivative offerings strategy for other virtual asset exchanges.
As on-chain XRP activity increases, investor sentiment may increase as well, leading to more powerful market forces. The industry is looking to see if these trends lead to longer-term bullish trends for XRP and possibly other cryptos.
