Members of the Ripple community are calling for the termination of the ongoing lawsuit filed by the SEC against the company, alongside the resignation of SEC Chairman Gary Gensler. Ripple’s CEO, Brad Garlinghouse, is optimistic about a favorable outcome following Donald Trump’s recent electoral success. Trump has indicated that regulatory clarity for cryptocurrencies will be among his top priorities early in his administration.
Could Trump’s Election Lead to Case Dismissal?
Legal experts are suggesting that Trump’s victory may lead to significant policy shifts that could facilitate the withdrawal of the lawsuit against Ripple by the SEC. This shift could greatly benefit the cryptocurrency industry, which is eager for clearer regulatory guidelines.
How Will XRP Prices Respond to These Developments?
Currently, XRP is valued at approximately $0.67, experiencing a notable increase of over 15% within the last day. The trading volume surged by 166% in reaction to Trump’s potential return to power, with forecasts indicating that XRP could reach $1 during the anticipated altcoin season.
Key points regarding the situation include:
- The SEC must file its opening brief for appeals in the Ripple case by January 15, 2025.
- While outright dismissal of the case seems unlikely, a negotiated settlement is still attainable.
- Dismissing cases at the Wells notice stage may uplift numerous cryptocurrencies.
The unfolding legal landscape surrounding Ripple and the SEC continues to evolve, with potential implications for the broader cryptocurrency market and investors alike.