SEC Plans to Drop Appeal Against Ripple Amid Positive Market Predictions

At the Digital Asset Summit, Ripple CEO Brad Garlinghouse announced that the SEC intends to drop its appeal against Ripple. This marks a significant development as it leaves the SEC's case as one of the last major legal challenges in the crypto sector.

Key points include:

The SEC dismissed its suit against Coinbase and ceased probes into other firms.
Garlinghouse described the journey as painful, attributing it to regulatory pressure on companies.
Bitcoin (BTC) rose nearly 2% to around $84,250, while XRP surged 12% to $2.50.
Dan Tapiero of 10T Holdings called the US administration change crucial for crypto history.
Bitwise CIO Matt Hougan remains confident in a $200,000 BTC price by the end of 2025, citing supply-demand mismatches.
Approximately 165,000 BTC is expected to be mined this year, with institutional purchases projected to continue.
Concerns exist over potential economic recessions impacting risk assets.
Institutions may feel compelled to invest in crypto as they recognize their lack of exposure.