The Securities and Exchange Commission (SEC) has decided to drop its lawsuit against Ripple Labs. This decision is viewed as a significant moment for the crypto market, with crypto analyst Dan Gambardello predicting that it signals the beginning of a potential record-breaking bull market.

The SEC had charged Ripple Labs in December 2020 for allegedly conducting a $1.3 billion unregistered securities offering. With this legal cloud now lifted, expectations are high for a bullish rally in the crypto markets.