According to @VanessaGrellet_, for crypto exchanges this development could unlock access to U.S. liquidity, end fear of shifting regulation by enforcement, and put digital assets on equal footing with traditional markets (source: @VanessaGrellet_). For trading, the liquidity access and regulatory clarity highlighted by @VanessaGrellet_ make U.S. order flow, cross-exchange spreads, and listing pipelines key areas to monitor for market impact (source: @VanessaGrellet_).

According to Eleanor Terrett, Ripple has expended between $150M and $200M in legal fees due to SEC's enforcement actions, only to find itself in a similar position as before, illustrating the inefficacy of regulation by enforcement for achieving regulatory clarity (source: @EleanorTerrett). This situation stresses the need for clear regulatory guidelines to avoid costly legal battles, which can impact Ripple's financial stability and investor confidence.