As a seasoned crypto investor with over a decade of experience in this dynamic market, I can confidently say that the ongoing Ripple vs SEC lawsuit has been a rollercoaster ride. However, recent developments have me feeling optimistic about XRP‘s future.
As a researcher, I am speculating that the U.S. Securities and Exchange Commission (SEC) may decide not to pursue an appeal in the ongoing Ripple lawsuit. This prediction is shared by former Commodity Futures Trading Commission Chairman Chris Giancarlo and legal professionals who support XRP. They suggest that this move could be highly probable under the new leadership of the SEC, which will result in a significant shift for XRP.
Ripple vs SEC Lawsuit Nears Conclusion
On a recent post for FOX Business, Charles Gasparino stated his belief that Donald Trump’s presidency is having a transformative effect on Ripple (XRP). This assertion sparked considerable excitement within the Ripple community, causing a surge of bullish sentiment on Thanksgiving day.
Furthermore, Gasparino shared that Chris Giancarlo, the former CFTC Chairman, informed him that the “new SEC is planning to withdraw their appeal” against Ripple. The regulatory body had previously appealed rulings on XRP sales by Ripple, as well as executives Brad Garlinghouse and Chris Larsen, stating that these were not considered securities. Simultaneously, Ripple has filed a counter-appeal, questioning whether investment contracts should include ‘essential rights and obligations.’
As a researcher, I’ve been following the developments surrounding the XRP case closely, and based on recent statements from Pro-XRP lawyers Bill Morgan, Fred Rispoli, and Jeremy Hogan, it seems they anticipate either the dismissal or withdrawal of the appeals. Bill Morgan, in a post dated November 29, expressed his belief that the appeal may be dropped because Judge Torres made no errors in her ruling.
According to Bill Morgan, the primary reason for persisting with a seemingly futile plea is likely to fade significantly once Gary Gensler, the key internal SEC facilitator, steps down on January 25th.
XRP Price Eyes Hitting $2 Soon
The supporters of XRP are optimistic about a potential $2 price increase following the departure of SEC Chair Gary Gensler and the shift in Trump’s crypto policies. The transition team from Trump to Vance has put forward pro-cryptocurrency leaders for key government positions. Paul Atkins is currently the front-runner for the position of the next SEC chairman, a move that Ripple’s Chief Legal Officer Stuart Alderoty finds encouraging.
Another trip to $1.60
— bill morgan (@Belisarius2020) November 29, 2024
The price of XRP has rallied 200% amid the Trump trade. The price has hit $1.64 today, a new 3-year high. Trading volume is rising again as lawsuits are reaching near end.
According to CoinGape’s initial report, the U.S. district court has decided in favor of Ripple and its CEO, Brad Garlinghouse, regarding the XRP lawsuit. The judge has subsequently approved a motion to speed up the delivery of the verdict in the case known as In re Ripple Labs Inc Litigation.
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2024-11-29 11:49