What changed after the SEC withdrew its appeal and why does an analyst now see XRP at $8

Source: Yellow Original Title: What Changed After the SEC Dropped Its Appeal and Why an Analyst Now Sees XRP at $8

Original Link: https://yellow.com/es/news/quwhat-changed-after-the-sec-dropped-its-appeal-and-why-an-analyst-now-sees-xrp-at-8 The head of digital assets research at Standard Chartered, Geoffrey Kendrick, has presented a notably optimistic outlook for XRP, citing recent regulatory developments and the emergence of spot ETFs linked to the token as key drivers of his forecast.

Kendrick’s projection follows the conclusion of Ripple’s prolonged legal dispute with the U.S. Securities and Exchange Commission (SEC), a case that weighed on XRP for years and shaped broad regulatory uncertainty across the crypto market.

The legal case

The legal battle began in December 2020 when the SEC accused Ripple and top executives of conducting unregistered securities offerings through the sale of XRP tokens.

Ripple challenged the accusation, arguing that XRP functions as a digital currency and not as an investment contract.

A federal court issued a mixed ruling in July 2023, determining that Ripple’s automated sales of XRP on public exchanges did not constitute securities transactions, while concluding that sales made directly to institutional investors did violate securities laws.

Although the decision was widely considered favorable for Ripple, the SEC appealed parts of the ruling, prolonging the legal confrontation.

That process ended in August this year when the regulator formally withdrew its appeal, ending the dispute and removing a significant legal burden for XRP.

Institutional funds and projections

Following the resolution, asset managers like Franklin Templeton, 21Shares, Bitwise, Canary, and Grayscale launched XRP spot ETFs in the United States, offering regulated access to the token.

According to data from on-chain analysis platforms, these products have collectively attracted $1.14 billion in net inflows as of December 26.

Kendrick stated that the combination of regulatory clarity and the increasing number of institutional investment vehicles significantly improves XRP’s long-term outlook. Based on these factors, he forecasted that XRP could reach $8 by 2026.

At current market levels, XRP trades near $1.88, implying an increase of approximately 330% from its current price if Kendrick’s target is met.