Order

<ul> 
 <li><strong>The U.S. SEC drops the lawsuit against Ripple executives, including CEO Brad Garlinghouse and Executive Chairman Chris Larsen.</strong></li> 
 <li><strong>The price of XRP surged more than 10% after the lawsuit was dismissed.</strong></li> 
</ul> 
<p>In a significant turn of events, XRP, the cryptocurrency associated with Ripple, experienced a significant surge in value, <a href="https://thenewscrypto.com/xrp-fails-to-overturn-bearish-momentum-further-decline-likely/" target="_blank" rel="noreferrer noopener">climbing over</a> 9% early on Friday, reaching $0.529. This surge followed the U.S. Securities and Exchange Commission’s (SEC) decision to dismiss the lawsuit against Ripple executives, including CEO Brad Garlinghouse and Executive Chairman Chris Larsen.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full is-resized">
  <img decoding="async" src="https://thenewscrypto.com/wp-content/uploads/2023/10/SEC.png" alt="" class="wp-image-84260" style="width: 100%;height:506px" width="576" height="506" srcset="https://thenewscrypto.com/wp-content/uploads/2023/10/SEC.png 818w, https://thenewscrypto.com/wp-content/uploads/2023/10/SEC-300x264.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/10/SEC-768x675.png 768w, https://thenewscrypto.com/wp-content/uploads/2023/10/SEC-150x132.png 150w" sizes="(max-width: 576px) 100vw, 576px">
  <figcaption class="wp-element-caption">
   <em>Court Order (Source: CourtListener)</em>
  </figcaption>
 </figure>
</div> 
<p>The SEC dropped claims that these executives aided and supported the company in violating federal securities laws with its XRP transactions. This unexpected development led to the cancellation of a trial scheduled for next year and marked another victory for Ripple in its prolonged legal battle with the regulatory agency.</p> 
<h3 class="wp-block-heading" id="h-xrp-24-h-price-analysis">XRP 24-H Price Analysis</h3> 
<p>As a result of the SEC’s decision, XRP’s price recorded a 10% gain within a matter of hours, although it later experienced a <a href="https://thenewscrypto.com/xrp-price-consolidates-as-bearish-sentiment-looms-over/" target="_blank" rel="noreferrer noopener">minor correction</a> of nearly 2%. At the time of writing, XRP was trading at $0.5174, reflecting an 8% increase in the last 24 hours and a 7.3% gain over the past week. Further, the daily trading volume soared by more than 123% in the last 24 hours, reaching $1.7 billion.</p> 
<p>Analyzing XRP’s price action, it is evident that the cryptocurrency has been in a consolidation range over the past three months, with a sideways trend. However, a sharp bullish spike recently emerged, potentially leading to a reversal of the death cross pattern between the 50-day and 200-day Exponential Moving Averages (EMA).&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" width="1024" height="519" src="https://thenewscrypto.com/wp-content/uploads/2023/10/XRP-2-1024x519.png" alt="" class="wp-image-84261" srcset="https://thenewscrypto.com/wp-content/uploads/2023/10/XRP-2-1024x519.png 1024w, https://thenewscrypto.com/wp-content/uploads/2023/10/XRP-2-300x152.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/10/XRP-2-768x389.png 768w, https://thenewscrypto.com/wp-content/uploads/2023/10/XRP-2-150x76.png 150w, https://thenewscrypto.com/wp-content/uploads/2023/10/XRP-2.png 1304w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   <em>XRP (XRP) Price Chart (Source: TradingView)</em>
  </figcaption>
 </figure>
</div> 
<p>The XRP price exceeded the 200-day EMA, and the daily Relative Strength Index (RSI) demonstrated strong momentum, crossing the halfway line. These indicators suggest a high-speed bullish phase with a growing likelihood of sustained continuation.</p> 
<p>If this trend persists, XRP may break through the next <a href="https://thenewscrypto.com/ripple-xrp-price-prediction/" target="_blank" rel="noreferrer noopener">key resistance</a> levels at $0.55 and $0.62, with the potential to climb even higher, reaching $0.68. However, if the trend falters, XRP could face a decline, with support levels at $0.48 and, in a worst-case scenario, $0.35.</p> 
<p>This development marks a crucial turning point in the legal battle between Ripple and the SEC, and it has had a significant impact on XRP’s value. Share your thoughts by tweeting us at @The_NewsCrypto.</p>

XRP Soars Over 10% on Positive Update From Ripple Vs SEC

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