News of the lawsuit between Ripple (XRP) and the US Securities and Exchange Commission (SEC) is attracting a lot of attention, especially after new developments related to the announcement of SEC Chairman Gary Gensler to step down in January 2025. Here are the highlights:
Legal developments
• Gary Gensler resigns: This event raises speculation about the possibility that the SEC could reach a deal with Ripple before he leaves, in order to strengthen the agency's image.
• Perspective from former SEC lawyer: Marc Fagel, a former SEC attorney, stated that the agency has won 'half the case'. He expressed skepticism that the SEC commissioners would change their stance after deciding to appeal the remaining part, though he does not completely rule out this possibility.
Impact on XRP price
• XRP has surged to 1.5 USD, with a significant increase in trading volume. Some analysts predict the price could further rise to 2 USD in the short term.
• Factors supporting price increase:
• Physical listing of XRP on major exchanges in Europe.
• Potential launch of XRP ETF in the US.
• Positive developments from leadership changes or policy environment in the US.
Assessment of the future
• Lawyer Jeremy Hogan predicts the lawsuit could be resolved in the spring or early summer of 2025. Gary Gensler's departure could create a more favorable legal environment for Ripple.
• Optimism from Ripple: CEO Brad Garlinghouse believes that political and economic moves, such as the appointment of Scott Bessent as a potential Secretary of the Treasury, could further support XRP's outlook.
Conclusion
XRP is at a crucial stage with both legal and market aspects. Optimistic investors hope that positive developments will continue to support the price increase, while legal advancements may shape the long-term future for both Ripple and XRP.
