As a seasoned financial analyst with over two decades of experience under my belt, I have witnessed numerous market cycles and regulatory changes. The recent developments surrounding the XRP lawsuit are intriguing, to say the least.
With Donald Trump’s victory and the nomination of pro-crypto Paul Atkins as US SEC Chair, it seems that the tide is turning in favor of Ripple and XRP. The anticipation for a dismissal or withdrawal of the XRP lawsuit appeal is palpable, especially given Brad Garlinghouse’s expressed intentions to work with the new SEC.
Attorney Jeremy Hogan’s prediction of a likely resolution by April or May this year is not far-fetched considering the pace at which regulatory decisions are usually made. However, I must admit that I am less optimistic about a February settlement as 40 days seems too short for the requisite preparations.
In the meantime, the SEC is preparing to file an opening brief in the XRP lawsuit case before Atkins takes over. This could potentially present challenges for Ripple, but the XRP community remains hopeful for positive developments such as the launch of an XRP ETF and a price rally.
If the lawsuit gets dismissed, it will undoubtedly open doors for the approval of XPP ETFs. The filing by several issuers has been on hold for months now, but with legal clarity, we might just see them come to fruition. As for the XRP price, I am confident that it will cross $10 once institutional and retail investors flock to invest in this asset with renewed confidence.
As for my personal prediction, I’d say the rally to $15 is not far off, especially given Garlinghouse’s warm welcome to the incoming pro-crypto US Congress. To lighten the mood, let me add that if XRP reaches $15, we might just see a new wave of ‘XRP Lambos’ on the streets!
As a seasoned legal professional with extensive experience in securities law, I have closely followed the Ripple vs SEC lawsuit development and I am optimistic about its potential resolution in the near future. With Gary Gensler stepping down as US SEC Chair and Paul Atkins taking over, I believe there will be a shift in the regulator’s stance towards crypto assets like XRP. Under the pro-crypto Trump administration, I expect to see a more favorable regulatory environment for digital assets, which could lead to the resolution of the long-running XRP lawsuit. My prediction is that we may see a resolution as early as April or May this year, providing much-needed clarity and certainty for all parties involved in the case.
Pro-XRP Attorney Says XRP Lawsuit To Likely End By May
The victory of Donald Trump in the U.S. presidential election and appointment of pro-cryptocurrency Paul Atkins as US SEC Chair were considered significant advantages for Ripple and XRP. In response, CEO Brad Garlinghouse stated his readiness to collaborate with the new SEC, which could lead to advancements and improved regulatory understanding. Additionally, these events sparked excitement about the potential resolution or withdrawal of the ongoing XRP lawsuit appeal.
Attorney Jeremy Hogan recently commented on X regarding the possibility of the Ripple vs SEC case being dismissed, settled, or abandoned by February. His response was, “It could happen, but I wouldn’t bet on it.
He noted that the final decision might be delayed due to the need to compile numerous reports, draft memos, attend necessary SEC meetings, among other tasks. However, Hogan anticipates either a dismissal or a settlement by April or May.
It seems quite challenging, given that we only have around 40 days at our disposal. This short span might make it difficult to compile necessary reports, draft memos, and attend the required SEC meetings. Therefore, I’m inclined to believe that April or May could be more realistic for completion.
— Jeremy Hogan (@attorneyjeremy1) January 3, 2025
US SEC Preparing for Opening Brief in Ripple Case Appeal
As the deadline of January 15th draws near, it appears that Gary Gensler, the Chair of the US Securities and Exchange Commission (SEC), along with Chief Litigation Counsel Jorge Tenreiro, are likely to submit their opening brief in the ongoing XRP lawsuit.
According to CoinGape’s report, it appears that the Securities and Exchange Commission (SEC) might be considering a late filing regarding appeals in the ongoing Ripple vs SEC case, just before Paul Atkins, a pro-crypto advocate, takes charge. This potential move could pose difficulties for Ripple, while the XRP community remains hopeful for favorable advancements such as the launch of an XRP Exchange Traded Fund (ETF) and an increase in XRP’s market price.
If the lawsuit is thrown out, it could potentially pave the way for the approval of the XPP ETF. For some time now, submissions from various issuers such as Bitwise, Canary Capital, and 21Shares have been pending. Furthermore, it’s expected that the price of XRP will surpass $10 due to increased investment from institutional and individual investors who are drawn towards this asset once its legal status is clear.
In the past day, XRP’s price experienced an increase of over 1%, now standing at approximately $2.45. Earlier today, the lowest and highest prices were $2.43 and $2.50 respectively. Yet, it’s worth noting that trading volume has dropped by 15% in the last 24 hours, suggesting a potential drop in trader activity.
According to CoinGape’s XRP price forecast, a potential surge towards $15 could be imminent as Ripple’s CEO, Brad Garlinghouse, endorses the incoming pro-cryptocurrency members of the U.S. Congress.
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2025-01-04 18:10