Cryptocurrency XRP aiming at $4.80 following approval of Japan ETF and positive regulations in South Korea
In a significant development, Ripple and the U.S. Securities and Exchange Commission (SEC) have jointly requested to dismiss their respective appeals in the XRP lawsuit. This move marks a significant step towards resolving the long-standing legal battle between Ripple Labs and the SEC.
Joint Appeal Dismissal
On August 7, 2025, Ripple and the SEC filed a joint petition to dismiss their appeals with the U.S. Court of Appeals for the Second Circuit [2][3]. This action follows Ripple's earlier withdrawal of its cross-appeal concerning institutional XRP sales [4].
Case Status Update
The SEC filed a status report with the court on August 16, 2025, detailing the progress in the case and awaiting formal approval to end the lawsuit [3][5]. The court is yet to approve the joint dismissal, a crucial step to finalize the case's resolution.
Potential Impact on XRP's Price
The resolution of the lawsuit could have significant implications for XRP's price:
- Regulatory Clarity: The dismissal of appeals and the finalization of the case could provide regulatory clarity, which might boost investor confidence and potentially lead to increased adoption and trading volume for XRP [4][5].
- Market Reaction: The news of the joint dismissal has generally been positive for XRP, as it removes a major legal overhang that has affected the cryptocurrency's market performance for several years [2][3]. However, market reactions can be unpredictable, and other factors such as overall market conditions and investor sentiment will also influence XRP's price going forward.
As of now, the Relative Strength Index (RSI) for XRP remains neutral, and the Moving Average Convergence Divergence (MACD) suggests a possible bullish crossover. If bullish trends persist, XRP could surpass $4 and potentially reach $4.80.
Other Developments
Ripple has launched a new XRP Rewards Event to strengthen community engagement. South Korea is pushing to enable spot crypto ETFs in H2 2025, which could potentially benefit XRP. If Bitcoin reaches $1 Million, XRP could potentially be America's biggest public firm.
Another significant development is Japan's SBI Holdings filing to launch the country's first-ever Bitcoin/XRP ETF. SBI Holdings, which owns a 9% stake in Ripple, has also pledged up to $1 billion in XRP purchases as part of its strategic treasury diversification.
Ripple has also applied to establish the Ripple National Trust Bank in New York, which could help Ripple bypass intermediaries like ACH and FedWire, integrating directly with U.S. financial infrastructure. This move grants XRP a regulatory safe harbor in one of Asia's most crypto-active markets.
Meanwhile, the U.S. Securities and Exchange Commission is reviewing a Bitcoin Reserve Plan, and South Korea's BDACS, a regulated crypto custodian, has onboarded XRP, enabling compliant institutional access to major Korean exchanges like Upbit and Coinone.
These developments highlight the ongoing activity and interest in XRP and its potential future growth. As the legal battle with the SEC nears its end, investors and market watchers will be eagerly awaiting the court's decision on the joint dismissal.
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