🚨🚨 $XRP XRP News Today: SEC Reappointment Drama Looms Over SEC Appeal Plans
XRP Down This Week but Holds Strong Above $2: What’s Next?
On Saturday, December 14, XRP declined by 0.97%, partially reversing a 3.60% rally from Friday, closing at $2.3985.
XRP underperformed the broader market, which dropped by 0.78%, taking the total market cap to $3.530 trillion.
💲SEC Commissioner Crenshaw Reappointment Vote Tests XRP Demand
SEC Commissioner Caroline Crenshaw’s reappointment vote is set for Wednesday, December 18, according to Fox Business. Congress adjourns for the year on Friday, December 20, meaning that if Crenshaw’s renomination fails, Trump could nominate a new Commissioner.
🔺The Crenshaw Vote and the SEC Appeal
The SEC must file its appeal-related opening brief in the Ripple case by January 15. Crenshaw’s reappointment would mean three Democrats could vote to file its opening brief. XRP could face selling pressure if the SEC pursues the appeal. However, investors remain optimistic the agency will eventually withdraw the appeal.
💰XRP Price Outlook: Key Catalysts and Risks
XRP price trends hinge on the SEC’s plans to appeal. If the SEC withdraws its appeal, the agency could approve pending XRP-spot ETF applications, driving XRP demand. Under this scenario, XRP could break above the December 3 peak of $2.9070, targeting the all-time high of $3.5505.
Conversely, XRP could drop below $2, if the agency files the opening brief and rejects the ETF applications.
🎯Conclusion
SEC developments, including the Crenshaw vote and the appeal decision, will influence price trends in the near term. A positive outcome for Ripple could catalyze a significant rally, while adverse decisions may lead to heightened selling pressure.