The long-running legal case between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) could finally be nearing its conclusion. Recent developments, particularly the election of President Donald Trump, whose pro-crypto stance could influence regulatory policies, suggest that the resolution of the case might be on the horizon. If Trump appoints a new SEC leader who is more favorable toward cryptocurrencies, it could accelerate the end of Ripple’s legal issues and potentially lead to a settlement, possibly for the $125 million fine initially proposed.
Ripple's ongoing legal battle with the SEC has been one of the most closely watched cases in the crypto world. The SEC initially accused Ripple of conducting an unregistered securities offering by selling XRP, labeling it as a security. However, Ripple scored a major victory in 2023 when a U.S. District Court ruled that XRP is not a security, which was seen as a significant win for the crypto industry. The ruling suggested that XRP, in its current form, does not meet the legal definition of a security, which has since fueled speculation that other cryptocurrencies could be categorized similarly.
Despite this victory, the SEC filed an appeal, and the case remains unresolved. Many industry experts believe that the new leadership under President Trump could provide a more crypto-friendly regulatory environment, which might lead to a quicker resolution of Ripple’s legal issues. A favorable ruling for Ripple could potentially see the case settled for the $125 million fine initially proposed, bringing an end to years of uncertainty surrounding the legal status of XRP.
A key question that has been circulating in the crypto community is whether the lawsuit could be withdrawn or settled, now that it is before the appeals court. A social media user recently asked, “Can the lawsuit still be settled or withdrawn after it has been put in front of the appeals court?”
Fred Rispoli, a legal expert and attorney, responded to the inquiry, providing some clarity on the matter. According to Rispoli, the case can still be settled or withdrawn, even after it has been appealed. However, he noted that “withdrawn is unrealistic though. Likely to be settled.” This means that while the case may not be completely dismissed, a settlement is the more probable outcome, especially given the changing political and regulatory environment.
While the legal case continues to unfold, XRP’s price has been showing positive momentum. As of now, XRP is trading around 60 cents, reflecting steady growth. Over the past week, the altcoin has seen a 19% increase, largely fueled by the broader market’s optimism surrounding Trump’s pro-crypto stance and the ongoing developments in Ripple’s legal battle. XRP has key support levels at 56 cents and 54 cents, with strong buying interest helping to maintain its upward trend.
The rise in XRP’s price has coincided with Bitcoin’s recent surge, with the leading cryptocurrency crossing the $88,000 mark and approaching the $90,000 level. The broader bullish sentiment in the market, driven in part by Trump’s crypto-friendly policies, has provided a favorable backdrop for altcoins like XRP to gain traction.
The resolution of Ripple’s legal case with the SEC could have a profound impact on XRP’s price. A favorable outcome—such as a settlement or a clear ruling on the regulatory status of XRP—would likely lead to increased investor confidence in the token. If Ripple’s case is resolved positively, XRP could see a significant surge in value, especially as regulatory clarity would attract more institutional investment and adoption of XRP in the global banking sector.
Ripple CEO Brad Garlinghouse has long advocated for clearer regulatory frameworks for cryptocurrencies, believing that such clarity will benefit the company and its efforts to promote XRP’s adoption for cross-border payments and banking solutions. Garlinghouse has expressed optimism that a more favorable regulatory environment will not only help Ripple but also contribute to the broader adoption of digital assets in the financial system.
While the legal battles continue, Ripple’s resilience and XRP’s strong performance in the market are clear indicators of the growing confidence in the cryptocurrency sector. Ripple’s technology, which enables fast and low-cost cross-border payments, is increasingly seen as a potential disruptor in the global financial system. As the legal uncertainty surrounding XRP diminishes, Ripple’s technology may find even broader adoption, especially in institutional circles.
If Ripple’s case is settled favorably and regulatory clarity is achieved, XRP could experience a significant price rally, potentially surpassing its previous highs. Investors are keeping a close eye on both the legal developments and the broader market conditions, as both will play a critical role in determining the future trajectory of XRP.
Ripple’s ongoing legal case with the SEC remains a pivotal moment for the broader crypto industry. With President Trump’s election potentially influencing the regulatory landscape, there is renewed optimism that the case could come to a close sooner rather than later. If Ripple’s legal issues are resolved positively, XRP could see a significant rise in value, spurred by regulatory clarity and increased institutional interest. With the legal landscape shifting and the market showing strong bullish momentum, XRP’s future looks increasingly promising.
November 2024, Cryptoniteuae