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The XRP community is on tenterhooks as the US Securities and Exchange Commission (SEC) appeal deadline looms, set for January 15th. This date is pivotal, potentially impacting the future of XRP Exchange-Traded Fund (ETF) prospects. The SEC had previously requested an extension in November to file its appeal by early January, sparking speculation that the delay was strategically timed to coincide with the outcome of the US elections.
Will the Appeal Be Dismissed?
With the advent of a pro-crypto administration under Donald Trump and the expected appointment of Paul Atkins as the new SEC chair, there is a palpable shift in the air regarding the continuation of the SEC’s appeal. Legal experts and market analysts are questioning whether the agency will choose to proceed with the appeal under this new leadership.
Although the appeal process is set to continue for now, typically lasting around a year, there is speculation that the new administration might opt to dismiss the appeal altogether. Marc Fagel, a legal commentator, noted the possibility of such an unprecedented move, suggesting it might even be likely under the circumstances. Ripple’s Chief Legal Officer, Stuart Alderoty, has called for a resolution to the protracted four-year legal battle with the SEC, urging the Trump administration to bring this saga to a close. Alderoty believes that under the guidance of a crypto-friendly SEC chair like Atkins, there is a chance to restore confidence and provide the much-needed clarity for the cryptocurrency industry.
If the appeal is dismissed, it could pave the way for the SEC to clarify the security status of XRP, thus boosting its ETF approval prospects. While Bitcoin and Ethereum ETFs have already received the green light due to their non-security status, the market remains optimistic about the approval of altcoin ETFs, including XRP and Solana, in 2025. Companies such as Bitwise, Canary Capital, 21Shares, and WisdomTree have already submitted proposals for XRP ETFs. As the situation unfolds, prediction platform Polymarket has indicated a 75% probability of an XRP ETF approval in 2025.
A Bullish Outlook for XRP
The market sentiment among XRP holders is decidedly bullish, with expectations of a rally driven by potential ETF approval. Investors are keenly anticipating the possible outcome, positioning themselves for a favorable 2025 altcoin season. Experts suggest that ETF approval could propel XRP’s price beyond the $5 mark, making the wait worthwhile for many investors.
Adding to the optimism, renowned analyst Lark Davis recently shared an encouraging forecast. In a recent social media post, Davis projected that the cryptocurrency market is on a trajectory toward a $10 trillion market cap. He emphasized that such growth would lead to “mind-blowing gains,” beyond what most investors currently imagine, thereby fueling further bullish momentum in the market.
In conclusion, as the January 15th deadline approaches, all eyes are on the SEC’s next move. The decisions made in the coming weeks could significantly impact the future of XRP and its place in the evolving landscape of cryptocurrency investments. With a new administration potentially steering the course towards a more crypto-friendly regulatory environment, 2025 could herald a new era for XRP and other altcoins in the ETF space.
