Ripple-SEC Settlement Spurs XRP Price Surge Beyond $3

XRP has experienced a significant price surge recently, driven by multiple factors including positive developments in the Ripple vs. SEC lawsuit and growing expectations of a Federal Reserve rate cut. The lawsuit, which has seen repeated delays, appears closer to resolution after both parties agreed to settle with a $50 million penalty and withdrew their appeals, with the Second Circuit's approval now confirmed. This legal progress, combined with Fed Chair Jerome Powell's hints at lowering interest rates, has boosted market sentiment, pushing XRP's price from below $2.8 to above $3.1. The rate cut expectations have sparked increased demand for XRP, given its utility in cross-border payments, as cheaper borrowing costs could lead to higher transaction volumes. Additionally, XRP's sudden price reversal triggered a massive liquidation event where short traders suffered over $4 million in losses, further fueling the rally. Speculation also persists that if Elon Musk mentions XRP, the token could see even greater gains, following his past influence on cryptocurrencies like Dogecoin and Bitcoin.