The XRP community is abuzz with excitement as new rumors circulate about a possible “emergency settlement” in the ongoing legal battle between Ripple and the SEC. These speculations have been fueled by the recent announcement that SEC Chair Gary Gensler will resign, effective January 20, 2025. The potential implications of these developments have captured the attention of investors and market watchers alike.
BitBoy Addresses the Ripple Settlement Rumors
Crypto influencer Ben Armstrong, popularly known as BitBoy, recently weighed in on the rumors of a potential settlement between the SEC and Ripple. Sharing his insights in a YouTube video, BitBoy acknowledged the swirling speculation but admitted that he could not verify the claims at this point. He assured his audience that he would continue to investigate the matter further.
These rumors seem to have emerged from discussions held during the SEC’s closed-door meetings, where ongoing cases and possible injunctions are on the agenda. Interestingly, the SEC conducted such a meeting on November 21—the very day that Gensler announced his resignation. The idea of a settlement has gained significant traction, leading to an impressive 200% surge in XRP’s price, which recently reached $1.6.
Former SEC Lawyer Weighs In
Adding another layer to the conversation, Marc Fagel, a former attorney for the SEC, offered his perspective on the situation. He noted that while previous reports about settlement talks had often been unfounded, the current rumors have a more credible basis. Fagel emphasized that if an appeal were to be dismissed, it would be a rare occurrence and likely wouldn’t happen until a new SEC Chair is appointed and confirmed. This leaves room for ongoing speculation and misinformation as the January 15 brief filing deadline approaches.
Fagel also pointed out that any resolution to the case would require time and careful consideration, particularly with a change in leadership at the SEC. As the situation develops, clarity is expected to emerge around critical deadlines, such as the upcoming brief filing.
XRP To Hit $2 Soon
Market analysts are increasingly optimistic about XRP’s future, with predictions that the cryptocurrency could reach a new all-time high (ATH) sooner than anticipated. Currently holding strong at around $1.55, XRP has experienced an 18% surge today, pushing its market capitalization to a staggering $88 billion. Over the last two weeks, the cryptocurrency has achieved a remarkable 170% gain, setting $2 as its next target. Enthusiasm is growing among investors as many anticipate the possibility of a new ATH in the near future.
The unfolding developments in the Ripple lawsuit, coupled with market dynamics, suggest that the coming months could be pivotal for XRP and its stakeholders. As the situation continues to evolve, all eyes remain on Ripple and the SEC, with the potential settlement and market movements promising to shape the future of the cryptocurrency landscape.
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