Stuart Alderoty, Ripple's Chief Legal Officer, recently marked the fourth anniversary of the SEC's lawsuit against Ripple with a call for change. He urged the incoming administration to "cleanse the lingering stain of Hinman from the agency," emphasizing that restoring trust is crucial to repairing the damage caused by the commission's current leadership.
Back in December 2020, the SEC filed what Alderoty describes as a "lawless lawsuit" against Ripple and its executives, alleging regulatory breaches in the sale of XRP tokens. This ongoing case has led to a significant loss of trust in the SEC's operations within the crypto community.
On the market side, XRP has experienced some fluctuations. After reaching a high of $2.89 on December 3, 2024, it faced a decline, trading around $2.19 as of December 23. This drop aligns with a broader downturn in major cryptocurrencies, influenced by the Federal Reserve's indications of fewer rate cuts next year due to persistent inflation.
However, there's a silver lining. The nomination of crypto advocate Stephen Miran to President-elect Donald Trump's team has sparked optimism. Miran joins other pro-crypto figures like Paul Atkins and David Sacks, suggesting potential favorable regulatory support for digital currencies. This development could positively impact XRP, especially if the SEC adopts a more crypto-friendly stance under new leadership.
Analysts have mixed predictions for XRP's future. Some forecast a rise to $3 by the end of 2024, while others anticipate it could reach between $5 and $7 in the first half of 2025, citing Ripple's advancements in the crypto space.
While XRP has faced challenges due to market dynamics and regulatory uncertainties, the potential for a more crypto-friendly SEC leadership brings a wave of optimism. As always in the crypto world, staying informed and cautious is key.