The crypto community is buzzing with excitement after the United States Securities and Exchange Commission (SEC) announced that it would be dropping its legal action against Ripple, ending a four-year-long legal battle. This news has been long-awaited by investors and industry watchers alike, but some experts believe that the market may have already priced in this development months ago.

According to Dmitrij Radin, founder of Zekret and chief technology officer of Fideum, a regulatory and blockchain infrastructure firm, the outcome of the SEC’s case against Ripple may not have as big of an impact on the market as expected. He believes that the market had already accounted for this development since President Trump’s election, and that the recent announcement may not have a significant effect on prices.

Radin’s sentiments are echoed by other analysts, who attribute the lack of momentum in the XRP token to investors already expecting an end to the SEC’s lawsuit against Ripple Labs. Additionally, the current market sentiment and uncertainty may also be contributing to the token’s lackluster performance.

However, despite the lack of immediate price movement, some technical chart patterns suggest a potential 75% rally for XRP after the end of the SEC’s lawsuit. This could see the token reaching a target of $4.35 by June, up from its current price levels.

While the immediate impact on prices may be limited, the overturning of the SEC’s case against Ripple will have a long-term positive effect on the market. This is due to the change in narrative and expectations of a more crypto-friendly SEC, according to Radin.

In conclusion, while the market may have already priced in the SEC’s decision to drop its case against Ripple, the long-term effects are expected to be positive for the crypto industry. This news marks a significant milestone for Ripple and its investors, and could potentially lead to a more favorable regulatory environment for cryptocurrencies in the future.