The crypto community is keenly watching the developments as the Trump administration is poised to take charge, and Paul Atkins is set to assume the role of the next SEC Chair. This change in leadership brings renewed hope for a resolution in the protracted Ripple vs SEC case. A prominent attorney closely monitoring the situation has optimistically predicted that the case might reach a conclusion by April or May of this year.
The Trump Administration’s Potential Impact on Ripple and XRP
Donald Trump’s victory and the subsequent appointment of Paul Atkins as the new SEC Chair are perceived as advantageous for Ripple and its digital currency, XRP. Ripple CEO Brad Garlinghouse has expressed his eagerness to work collaboratively with the incoming SEC leadership. This development has fueled optimism within the community for not only progress and regulatory clarity but also the potential dismissal of the ongoing XRP lawsuit appeal.
Insights from Legal Experts
Attorney Jeremy Hogan, actively following the Ripple vs SEC case, shared his insights on social media regarding the likelihood of the case being dismissed, settled, or dropped by February. “While it’s possible, it seems unlikely,” he remarked. Hogan pointed out that a mere forty days is insufficient to compile reports, draft memos, and conduct necessary SEC meetings. He leaned towards April or May as more plausible timeframes for a resolution.
“I’d say it’s possible but maybe unlikely. 40 days is not a lot of time to get reports together, memos, have the requisite SEC meetings, etc. I’m going with April/May as a likely timeframe.” – Jeremy Hogan (@attorneyjeremy1)
A Shift in Regulatory Approach
In a recent interview with Thinking Crypto, Amanda Tuminelli from the DeFi Education Fund discussed the potential for a strategic shift in the SEC’s approach, even if complete dismissal of lawsuits is not immediately feasible. Tuminelli anticipates that the SEC might pursue favorable settlements known as “consent decrees.” These agreements involve both parties negotiating terms, with court oversight ensuring compliance, enabling cases to be resolved without complete dismissal.
Upcoming Deadlines and Strategic Moves
As the January 15 deadline looms, US SEC Chairman Gary Gensler and Chief Litigation Counsel Jorge Tenreiro are likely gearing up to file an opening brief in the XRP lawsuit. With Paul Atkins, a pro-crypto advocate, set to take over, there could be last-minute filings by the SEC, potentially posing challenges for Ripple. Gensler’s brief submission may represent the SEC’s final effort to solidify its stance as Ripple’s defense continues to gain momentum. This move underscores the SEC’s commitment to maintaining its regulatory authority over digital assets.
Anticipated Outcomes and Community Sentiment
The XRP community remains hopeful for favorable developments, including the possibility of launching an XRP ETF and experiencing a price rally. If the XRP lawsuit is dismissed, it could pave the way for XRP ETF approval, potentially leading to a price surge above $10 as investors gain legal clarity. The anticipation of these outcomes reflects the community’s optimism for a brighter future for Ripple and its digital currency.
