- November 13, 2024
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
The post XRP Lawsuit News : Ripple vs SEC Could End Soon Amid Leadership Changes appeared first on Coinpedia Fintech News
Ripple’s case against the SEC, long seen as a landmark legal struggle for the crypto industry, may be nearing a resolution — or even a dismissal. Speculation has intensified following Donald Trump’s re-election and his pro-crypto stance, with Ripple CEO Brad Garlinghouse expressing hope for a favorable outcome.
Garlinghouse, optimistic about a fresh approach from the incoming administration, recently shared a “100-day checklist” outlining his hopes for regulatory clarity and the firing of SEC Chair Gary Gensler.
The Ripple vs. SEC case is getting closer to its conclusion, and the world awaits Nov 21 to see what turn it takes—will it be resolved, dismissed, or something else? Let’s see what the analyst has to say.
Read more for XRP price prediction after the Ripple vs. SEC lawsuit ends. How will regulatory clarity impact XRP’s future price movement?
Ripple, XRP, and the Impact of Gensler’s SEC
The SEC’s handling of the Ripple case under Gensler has been a source of controversy and tension. Ripple’s CTO David Schwartz recently criticized the SEC’s broad use of the term “investment contract,” arguing that it has muddied securities law.
He stressed that Ripple is accountable to its shareholders, not XRP holders, challenging the SEC’s argument that XRP qualifies as a security. Many pro-XRP attorneys, including Bill Morgan, agree, emphasizing that Judge Torres’ ruling, which stated Ripple’s programmatic XRP sales don’t meet the “Howey test” for securities, should work in Ripple’s favor.
However, opinions vary. Former SEC lawyer James Farrell insists that dismissing the case entirely is unlikely, citing the regulator’s high stakes in this high-profile lawsuit. Instead, Farrell and others foresee a possible settlement.
Could a New SEC Chair Change Everything?
The crypto community is watching closely as Gensler faces mounting calls to resign, with even the American Securities Association (ASA) advocating for his departure. Historically, SEC Chairs have stepped down following a change in U.S. administration, sparking hope that new leadership could bring more favorable policies for the crypto industry.
Many believe this change could alleviate some of the regulatory challenges Ripple and other crypto companies currently face, creating a path for collaboration instead of litigation.
XRP Market Reaction
Amid all this anticipation, XRP, the eighth-largest cryptocurrency has surged by more than 15%, climbing to $0.67 as traders anticipate a rally to $1 if regulatory headwinds ease. XRP trading volume also soared over 160% in recent days, reflecting the community’s optimism for a resolution.
Breaking out of its recent $0.487-$0.566 range, XRP has also surpassed the daily 50 and 200 moving averages, previously limiting its price. The current rally faces resistance at $0.70, with support expected around $0.60 and $0.579 if it pulls back. However, a push past $0.70 could prompt a test of the year’s high at $0.74.
As some experts suggest a potential “altcoin season” could soon boost prices further, XRP holders are eagerly awaiting the SEC’s next move, with an important appeal filing scheduled for January 15, 2025.
XRP is a cryptocurrency created by Ripple Labs, designed for fast, low-cost cross-border payments. It operates on the XRP Ledger, allowing efficient transactions without the need for traditional intermediaries.
XRP could see significant growth if the Ripple vs. SEC case resolves favorably, with market optimism driving a 15% price surge. Regulatory clarity and leadership changes may further boost its value in the coming months.
