The recent victory of Donald Trump in the U.S. presidential election has invigorated the cryptocurrency community, particularly in relation to the ongoing SEC vs. Ripple lawsuit. Legal analyst Fred Rispoli has suggested that under Trump’s administration, the case may see a resolution as early as March 2025.
Examining the Possibility of XRP Lawsuit Resolution
The election results have sparked discussions within the XRP community. Fred Rispoli, a notable legal analyst, shared his thoughts on how Trump’s win might influence the Ripple appeal timeline. He expressed that from a pure crypto perspective, Trump’s victory is indeed favorable. Trump’s awareness of the case, as indicated by a post from a Ripple executive, suggests potential shifts in approach. Rispoli outlined two possible paths for Ripple:
- Settlement Before Agency Changes: Current SEC Chair Gary Gensler’s team may aim to settle the case before any leadership changes. However, this could involve penalties, allowing the SEC to maintain some authority.
- Revised Approach Under New Leadership: A more favorable scenario for Ripple could emerge under Trump-appointed leadership. This might lead to revisiting the case’s penalties or even dismissing certain charges, particularly regarding XRP’s classification as a security.
Advocating for a New Perspective on Crypto Cases
Paul Grewal, Coinbase’s Chief Legal Officer, has voiced optimism about the incoming administration’s potential to reassess crypto cases. He suggests distinguishing between clear scams and legitimate companies like Ripple and Coinbase. Grewal believes that clearer regulations and fresh perspectives could encourage a fairer approach, steering the SEC towards collaboration with the crypto industry. His comments reflect the desires of voters for change, particularly in the handling of crypto cases. He urged the SEC to move from enforcement to constructive dialogue with crypto firms and to initiate prompt rulemaking.
Ripple CEO’s Optimism for Supportive Regulations
Brad Garlinghouse, CEO of Ripple, has expressed his hope for supportive regulatory changes under Trump’s administration. He commended the resilience of the XRP community and anticipated that Trump’s policies might offer a much-needed reprieve after years of regulatory challenges. Following Trump’s victory, the SEC has been directed to file an appeal in the Ripple case by January 15, 2025, potentially limiting the influence of the current leadership on the case.
Pro-Crypto Leadership Considered for SEC
Trump’s transition team is evaluating candidates for the SEC chair, considering former commissioners Dan Gallagher and Paul Atkins, who are known for their stance on regulatory clarity. Gallagher, in particular, is well-regarded within the crypto community. The new administration intends to address Gensler’s regulatory approach, including numerous enforcement actions against crypto companies, aiming for a more balanced regulatory environment.
Current Snapshot of the XRP Market
Trump’s win and the potential for a favorable settlement in the Ripple case have had a positive impact on XRP, pushing its price above $0.55, the highest since October. Analysts speculate that XRP could reach the $1 mark if a settlement seems imminent. Additionally, the Trump administration has sparked hopes for a potential XRP ETF, which a Republican-led SEC may be more inclined to approve, following the precedents set by Bitcoin and Ethereum ETFs. This regulatory shift under Trump could prove advantageous for XRP and other digital assets.
How much is XRP worth today?
The price of XRP (XRP) today is $0.55331760.
When will the SEC vs. Ripple Case End?
According to legal expert Fred Rispoli, the SEC vs. Ripple case might realistically settle by early to mid-2025.
