The cryptocurrency market is buzzing with excitement as XRP’s price surged over 20% following the surprising announcement from Gary Gensler, who revealed his plans to step down as SEC Chairman in January 2025. This news has ignited a wave of speculation regarding the potential resolution of the XRP-SEC lawsuit prior to Gensler’s departure.
Speculations on the XRP-SEC Lawsuit Resolution
Amid the news of Gensler’s impending departure, a social media user suggested that the SEC might consider a settlement before his exit. This move could potentially serve as a strategy to avoid the perception of a complete loss or to present a semblance of success. However, Marc Fagel, a former SEC lawyer, shared his perspective, expressing skepticism regarding this possibility.
Marc Fagel’s Insights
Fagel pointed out that the SEC has already secured a partial victory in the ongoing case. He questioned why the commissioners, who previously voted to appeal the other half of the case, would reverse their decision now. While he acknowledged that a settlement is possible, he deemed it unlikely, emphasizing that the case is unlikely to be dismissed at this stage.
“They already won half the case. I don’t know why the same commissioners who voted to appeal the other half would reverse course now. Possible, but seems unlikely,” Fagel stated.
XRP’s Current Market Performance and Future Prospects
With the recent price surge, XRP has reached an impressive $1.5, accompanied by a notable increase in trading volume. Market analysts maintain a bullish outlook, with some predicting a potential rise to $2 in the near future. XRP is currently exhibiting strong bullish momentum, and the potential launch of an XRP exchange-traded fund (ETF) in the U.S. could further elevate its price trajectory.
European Exchange Developments
The upward momentum of XRP is further bolstered by new developments, including the listing of physical XRP across major European exchanges. These strategic moves contribute to XRP’s growing prominence in the global cryptocurrency market.
Ripple’s Leadership Optimism
Ripple’s CEO, Brad Garlinghouse, has expressed his optimism regarding XRP’s future. He believes that potential appointments, such as Donald Trump’s Treasury Secretary pick, Scott Bessent, could have a positive impact on XRP’s market performance and regulatory outlook.
Outlook for Ripple vs. SEC Case Resolution
According to legal expert Jeremy Hogan, there is a possibility that the Ripple vs. SEC case could be resolved by the spring or early summer of 2025. Gensler’s exit may expedite this process, potentially leading to a more favorable regulatory environment for XRP.
Conclusion: Anticipating XRP’s Future
As the cryptocurrency community anticipates Gary Gensler’s departure, the focus remains on the potential implications for XRP. With bullish market sentiment and strategic developments on the horizon, XRP enthusiasts are eager to see how these factors will shape XRP’s future trajectory and regulatory landscape.
