According to an executive at FXOpen, a global forex and cryptocurrency broker, the recent settlement between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) may trigger the price of XRP, Ripple’s native cryptocurrency, to skyrocket.
In case you missed it, the SEC recently reached a settlement with Ripple Labs over allegations that the company had conducted an unregistered securities offering of XRP. As part of the settlement, Ripple Labs agreed to pay a fine of $1.3 billion and make various disclosures to the SEC.
The FXOpen executive believes that the settlement may have a positive impact on the price of XRP. According to the executive, the settlement provides much-needed clarity on the legal status of XRP and could help to boost investor confidence in the cryptocurrency. This, in turn, could lead to an increase in demand for XRP, potentially driving up its price.
It remains to be seen if the settlement will indeed have a positive impact on the price of XRP. However, it is clear that the resolution of this legal uncertainty is an important step for Ripple Labs and the future of XRP.