XRP Lawsuit: Lawyer Predicts Ripple SEC Case Conclusion Timeline Amid Gensler’s Exit

by

As a seasoned researcher with a keen eye for detail and years of experience navigating the complexities of the crypto market, I must say the recent developments surrounding XRP have piqued my interest. The impending departure of SEC Chair Gary Gensler and the subsequent predictions from pro-XRP lawyer Jeremy Hogan about the lawsuit’s conclusion timeline have certainly stirred up a storm in the community.

XRP Lawsuit Scenario: The departure announcement by U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler has ignited optimism within the broader cryptocurrency market, as investors look forward to a potential pro-crypto replacement. Meanwhile, legal expert Jeremy Hogan, who supports Ripple, has offered his timeline estimate for the resolution of the ongoing Ripple vs. SEC lawsuit, generating buzz in the industry. Furthermore, many market analysts expect that the pending SEC cases involving cryptocurrencies will either be settled or concluded following Gensler’s departure.

Lawyer Predicts Potential XRP Lawsuit Conclusion Timeline

It’s been announced that Gary Gensler, the current Chair of the US Securities and Exchange Commission (SEC), plans to step down from his position in January 2025. This news has ignited broad conversations across various financial markets, especially within the cryptocurrency sector. Many market participants view Gensler as a regulatory barrier for cryptocurrencies, as his policies have allegedly stifled innovation and growth in the digital assets industry so far.

In light of this, many market analysts expect the ongoing SEC legal cases to be resolved or settled now that a new chair is taking over from Gensler. Meanwhile, prominent attorney Jeremy Hogan, who supports XRP, has ignited debate by sharing his insights on when the XRP lawsuit might end.

More recently, Hogan announced Gensler’s update from January 20, 2025 regarding X, expressing appreciation for the progress made. In response to a question about when the Ripple vs. SEC lawsuit might end or reach a settlement with the upcoming SEC Chair’s exit, the lawyer responded that it could be resolved as early as the spring or summer of 2025. He explained:

I still think we are looking at spring next year – maybe early summer.

This remark has ignited debates within the cryptocurrency market, particularly among investors who closely monitor the ongoing high-profile case. Notably, the Ripple lawsuit with the Securities and Exchange Commission (SEC) is one of the longest-standing crypto cases, recently prolonged by the SEC’s action in the appellate court.

Ripple’s Native Crypto Eyes Rally Amid Several Good News

In a recent X post, a pro-XRP lawyer highlights “good news for XRP”, gaining the attention of the market participants. He has highlighted the latest launch of the WisdomTree Physical XRP ETP on Börse Xetra, SIX Swiss Exchange, and Euronext Paris and Amsterdam.

Of particular interest, this recent event has rekindled debates about a possible Exchange Traded Fund (ETF) for XRP being introduced in the United States. Already, companies such as Bitwise and Canary Capital have submitted applications for an XRP ETF to the Securities and Exchange Commission (SEC), waiting for approval. Furthermore, legal expert Jeremy Hogan has suggested that the launch of this investment instrument could occur within the next six to twelve months in the US, generating enthusiasm among investors amid ongoing court proceedings regarding XRP.

Supporting this viewpoint, well-known attorney John Deaton stated that the XRP market value could reach $100 billion soon, given the current change in the U.S. administration. Moreover, the recent surge in Bitcoin‘s price has boosted overall market confidence, implying that other leading cryptocurrencies might experience a similar upward trend as well.

A recent Santiment analysis indicates a significant rise in Bitcoin’s value. Moreover, it predicts that digital currencies such as XRP, Cardano, Stellar, Hedera, and others could potentially receive continued backing due to Bitcoin’s current upward trend.

What’s Next For XRP?

Today’s XRP price has experienced a significant jump, increasing approximately 27% while I was writing this, with each token trading at around $1.43. This surge in price has also led to an astonishing 235% increase in trading volume, reaching a staggering $22.29 billion, demonstrating the heightened market activity. Additionally, data from CoinGlass indicates that XRP Future Open Interest has grown by over 31%, suggesting a growing faith in the cryptocurrency among investors. The optimistic comments from a lawyer regarding the timeline of the ongoing XRP lawsuit seem to have fueled this positive market sentiment.

Amid this, top crypto market analyst CrediBULL Crypto highlighted the soaring XRP monthly RSI, as it enters the “overbought” territory for the first time in 3 years. The analyst noted that this indicates a super bullish momentum for the crypto. Besides, the analyst has set a target of $2 in the coming days for Ripple’s native crypto, while predicting the crypto hit $3.3 in the long run.

Furthermore, renowned market analyst Ali Martinez has recently echoed a similar prediction about X. He praises Gary Gensler’s departure from the U.S. SEC, considering it as “an excellent development for Ripple.” Moreover, his projected XRP price of $2 has ignited positive sentiments among investors.

Read More

2024-11-22 18:48