Ripple’s ongoing legal battle with the U.S. Securities and Exchange Commission (SEC) continues to impact XRP’s market performance. Recent developments in the case have triggered a significant price surge for the cross-border payment token. XRP surged by 11.52% within 24 hours, reaching a price of $2.82, as market participants closely followed the legal proceedings.

The uptick in XRP’s price comes as both Ripple and the SEC have submitted a joint stipulation for a delayed supplemental filing in the case. The legal team for Ripple shared the news, revealing that the SEC is now required to submit its opening brief within a set timeframe. While the filing does not immediately affect motions that have not yet been filed, the news still generated positive market sentiment, with XRP’s daily trading volumes increasing by 12%, surpassing $11.5 billion.

The Evolving Nature of the Case

The legal struggle between Ripple and the SEC has been ongoing for years, and recent developments indicate that both parties are moving toward a resolution. Attorney James K. Filan shared that the two sides have agreed to submit a consolidated supplemental filing containing information referenced in later motions. While this move does not alter the course of the case or motions that have not yet been filed, it represents a significant step forward in the legal process.

As the case evolves, market observers are closely watching how future decisions from the court will impact XRP’s price and market confidence. Ripple’s defense has remained strong, with the company arguing that XRP is not a security under U.S. law, a point of contention that the SEC continues to challenge.

XRP’s Price Surge and Increased Investor Confidence

The legal updates have drives optimism among investors, driving XRP’s price upward. The token’s price increase of 11.52% is supported by strong demand from large investors. In fact, over the past two months, large XRP holders—those owning over 1 million XRP—have increased their holdings by 37%, adding approximately $3.8 billion worth of XRP to their wallets. This surge in accumulation signals that institutional investors and whales are confident in XRP’s future potential, despite the ongoing legal challenges.

Ripple’s market capitalization now stands at over $160 billion, and XRP’s price has come close to its all-time high. This surge has fueled further speculation that XRP could see even greater gains in the coming months, especially if Ripple successfully navigates the legal battle with the SEC.

Future Expectations and XRP’s Potential Use in Banking

Ripple’s XRP Ledger has been gaining traction as a potential solution for banking and financial transactions. Major financial institutions, including JPMorgan, have indicated that the approval of an XRP exchange-traded fund (ETF) could be on the horizon by 2025. Such an approval could bring significant inflows into the XRP market, with some predictions estimating up to $8 billion in investments within the first year of the ETF’s discovered.

This growing optimism is not only based on the legal case but also on the increasing recognition of XRP’s utility in the global financial system. The anticipation of an XRP ETF approval has spurred investor interest, further contributing to the bullish trend surrounding the token.

Conclusion: What’s Next for XRP?

Ripple’s legal battle with the SEC is far from over, but recent developments suggest that XRP could be on the verge of a major breakthrough. The token’s 11.52% price surge and the significant increase in large investor holdings signal strong market demand and confidence in Ripple’s future.

The outcome of the SEC’s opening brief and other future legal proceedings will be critical in determining XRP’s value. If Ripple succeeds in its legal fight and gains regulatory clarity, XRP could see substantial growth, especially with the potential approval of an XRP ETF and the continued adoption of the XRP Ledger by financial institutions.

As the case unfolds, investors will need to remain vigilant and monitor any legal updates that could influence market sentiment. With strong demand from whales and a positive outlook for XRP’s future use in banking, the next few months could prove pivotal for Ripple and its cryptocurrency.