XRP News: SEC Reportedly Considers Dropping Lawsuit Against Ripple as Leadership Changes Signal Less Aggressive Approach

The Securities and Exchange Commission (SEC) is reportedly considering dropping its lawsuit against Ripple Labs, as leadership changes within the agency appear to signal a less aggressive approach. The lawsuit, filed in December 2020, has been one of the most significant legal battles in the cryptocurrency sector. With an April 16 court deadline looming, speculation is mounting that the SEC may be reconsidering its position.

SEC May Drop XRP Lawsuit Amid Leadership Changes

The Securities and Exchange Commission (SEC) is reportedly considering dropping its lawsuit against Ripple, as leadership changes within the agency appear to signal a less aggressive approach. The lawsuit, filed in December 2020, has been one of the crypto sector's most significant legal battles. With an April 16 court deadline looming, speculation is mounting that the SEC may be reconsidering its position. Under new leadership, the agency seems to be prioritizing cases with imminent deadlines, potentially explaining the delay in dismissing the Ripple case.

Ripple (XRP) Price Surges 6% Fueled by Brazil’s Approval of World’s First Spot XRP ETF

Ripple (XRP) outperformed other major cryptocurrencies with a 6% daily increase, driven by Brazil’s approval of the world’s first spot XRP ETF. The cryptocurrency market experienced a slight revival, but XRP stood out as the best performer in the top 20 club, briefly climbing to a local top of $2.74. This development, along with potential approval of a similar product in America, is seen as a major factor fueling the price surge.

Brazil to Launch World’s First Spot XRP ETF

XRP surged 7% as Brazil is set to introduce the world’s first spot XRP ETF. The ETF, officially known as the Hashdex Nasdaq XRP Index Fund, was established on February 18, 2025, and is still in its pre-operational stage. This new approval is a significant development for the nation’s financial industry as well as for Hashdex.

Global Crypto Market Sees Upswing, Brazil Approves World's First XRP ETF

The global crypto market has experienced a notable upswing, with a market cap increase of 0.90% in the past 24 hours, reaching $3.21 trillion. A major catalyst for this rally is Brazil's approval of the world's first spot XRP ETF, the Hashdex Nasdaq XRP Index Fund, which will be listed on Brazil’s B3 exchange. The news has generated buzz not only in Brazil but also in the U.S., where the SEC is reviewing applications for spot XRP ETFs.