Yesterday, XRP’s price jumped after it was announced that the SEC is concluding its prolonged legal battle with Ripple. Meanwhile, amid the excitement, the new Layer-2 project Solaxy is expanding quickly, with its ICO fundraising exceeding $27 million.

**SEC Ends Appeal Against Ripple as XRP Price Soars**

The SEC officially called off its appeal against Ripple, surprising many observers. The legal battle, which began in December 2020, has been a significant obstacle for XRP’s growth. Ripple’s CEO, Brad Garlinghouse, announced on X (Twitter) that the worst is behind them. Investors reacted enthusiastically, causing XRP to rise 12% to $2.59, its highest since March 7. Although it has since slightly reduced to $2.47, it remains 7% higher than the previous day. Spot trading volumes also increased by 250% from the day before. Open interest, indicating active futures or options contracts, rose 17% to $1.7 billion. This reduction in regulatory uncertainty has bolstered XRP, with traders sensing potential for a prolonged rally. Popular trader @PharaohX33 predicted XRP might reach $4 in Q2.

**Crypto Market Recovers Following Positive Ripple News**

The optimism is not limited to XRP holders. The entire crypto market is showing positive signs, with most major coins gaining value. Bitcoin has increased to $85,300, a 2% rise from the day before. BNB, Solana, and Dogecoin have also seen gains, although Ethereum has slightly declined by 1%. The market’s bullish momentum has increased its total value to $2.79 trillion, with trading volumes up 45% in the past 24 hours. Analysts are optimistic, with Markus Thielen, CEO of 10x Research, suggesting Bitcoin might be on its way back to $90,000. He expects a “mildly dovish” stance from the Fed, which would be beneficial for riskier assets like crypto. Although the Fed didn’t cut rates yesterday, the renewed optimism is evident and spreading across the market.

**Solaxy Gains Momentum During ICO as Solana L2 Earns Analyst Support**

Ripple’s legal win has also generated interest in Solaxy. Solaxy aims to be the first genuine Layer-2 solution for Solana, known for its speed but occasional congestion. Solaxy processes transactions off-chain and batches them for settlement on Solana’s mainnet, offering traders faster speeds, lower costs, and fewer transaction failures. This innovation has been well-received, as evidenced by Solaxy’s ICO, which has already raised over $27.1 million. Currently, SOLX tokens are priced at $0.001668. Investors can participate in the ICO using cryptocurrencies like ETH or USDT, a bank card, or the Best Wallet mobile app. Solaxy’s team has outlined a clear roadmap and tokenomics structure on their website, with regular development updates keeping the community informed. This combination of transparency, utility, and excitement has led YouTuber ClayBro to predict the native SOLX token could “run fast” after listing. With the SEC dropping its Ripple appeal, Solaxy now faces less regulatory uncertainty, enhancing its momentum. This makes Solaxy one of the most intriguing ICO projects launching in the coming weeks.

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