Why Is XRP Up Today? From Legal Wins to DeFi Growth, Ripple's Token Enters a New Phase

On May 8, 2025, the crypto world watched as Ripple reached a long-awaited milestone: a $50 million settlement with the SEC

Key Highlights

* Ripple reached a $50 million settlement with the SEC, bringing its multi-year legal battle closer to resolution.

* Despite a drop in on-chain activity, average daily trading volume on top exchanges reached $3.2 billion in Q1 2025.

* Large holders are accumulating, with more XRP price predictions appearing online.

* JetBolt has sold more than 350 million tokens and achieved a milestone in the presale space.

On Monday, May 8, the crypto world woke up to news that brought smiles to many faces. It was announced that the SEC had decided to withdraw its appeal of the court ruling in the case against Ripple. This decision effectively closed the most important regulatory chapter in XRP's history.

As the dust settles and the smoke clears, we can take a step back and try to understand what happened. After all, everyone is used to hearing about Bitcoin price predictions and the latest news on the BTC price, but there are other coins that are also heating up.

Why Is XRP Up Today? From Legal Wins to DeFi Growth, Ripple’s Token Enters a New Phase

After a long-running legal battle, DePay has finally been granted a payment from the U.S. government, a ruling that could have far-reaching implications for the cryptocurrency industry.

The case, which began in 2018, stemmed from a 2014 ruling that allowed the government to seize Bitcoin used by Silk Road, a now-defunct online marketplace for illicit goods and services. DePay, an innocent party, had some of his Bitcoin in the same wallet as the Silk Road operators, leading to the unjust seizure of his funds.

Following a multi-year legal battle, a federal judge has ruled that DePay is due payment from the U.S. government for the Bitcoin that was seized. The ruling comes as a victory for DePay, who has maintained his innocence throughout the case.

The ruling is significant as it highlights the potential for unjust outcomes when dealing with cryptocurrency and the legal system. It also underscores the importance of Congress passing legislation to provide clear and useful legal definitions for crypto assets and create a regulatory framework for the industry.

The SEC's decision to appeal against the court ruling in its case against Ripple has been met with mixed reactions. Some legal experts believe that the SEC may be trying to avoid setting a precedent with its actions.

The SEC's case against Ripple focused on whether the company's token, XRP, should be registered with the SEC as a security. The agency argued that Ripple sold XRP to raise capital from the public, meeting the definition of a security. However, the court disagreed, finding that the economic realities of the token did not align with the legal definition of a security.

In its decision to withdraw the appeal, the SEC did not provide any further comment. The move comes after the agency faced criticism for its handling of the case and its broader approach to regulating cryptocurrencies.

The SEC's actions have been closely watched by the cryptocurrency industry, which is still in the early stages of development and faces a rapidly changing technological landscape. The agency's decisions will have far-reaching implications for the future of cryptocurrency regulation in the United States.

The case also drew attention to the need for Congress to pass legislation to provide clear and useful legal definitions for crypto assets and create a regulatory framework for the industry. Despite years of discussion, lawmakers have yet to reach an agreement on cryptocurrency regulation, leaving the task largely to the SEC and other agencies.

As the dust settles on this chapter in the cryptocurrency saga, it remains to be seen what impact the case will have on the broader industry and whether Congress will finally take steps to regulate the burgeoning sector.

The same economic force that's causing a buzz with Bitcoin price predictions is also keeping an eye on other coins. As the dust settles on May 8, we're now able to fully visualize what happened with Ripple and what it means for the price of XRP.

But first, let's take a look at the latest news in the world of crypto.

Top 1000 crypto whales are massively accumulating despite the recent price movements. According to crypto pundit Ali Martinez, whale wallets have accumulated over 900 million XRP in the last month alone.

This coincides with Santiment data showing that wallets holding 10M–100M XRP have increased their collective exposure by $1.8 billion in value.

Santiment data report of crypto whales moving over 900 million XRP tokens. Source: Ali Martinez

This buying pressure comes as XRP trades in the $1.96–$2.50 range, testing resistance levels that haven't been seen in months.

If these crypto whales are right, then it seems like XRP could potentially be gearing up for another breakout.

For now, XRP is currently changing hands at $2.49, up