Ripple vs. SEC: Trump’s Election May Lead to Case Resolution

by | Nov 12, 2024 | Latest News, Ripple News | 0 comments

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The prolonged legal clash between Ripple Labs and the U.S. persists. The Securities and Exchange Commission (SEC) may soon end, thanks to the recent election of President Donald Trump. His pro-crypto stance could lead to a friendlier regulatory environment, benefiting Ripple and other digital asset companies.

If Trump appoints a new SEC leader more open to cryptocurrency, it could speed up Ripple’s case and possibly result in a settlement. Ripple had previously offered a $125 million settlement, and a change in SEC leadership might make that deal a reality.

Ripple’s Milestone Victory: XRP Not a Security

Ripple recently scored a significant victory when the court ruled that XRP is not a security. However, the SEC appealed, extending the legal uncertainty. Attorney Fred Rispoli noted that the case could still be settled, stating, “It’s likely to be settled.”

Despite the legal challenges, XRP’s price has been rising. Currently, at 60 cents, XRP has surged by 19% this week, likely influenced by Trump’s re-election and potential regulatory shifts. Support levels are at 56 and 54 cents.

Meanwhile, Bitcoin is also rallying, nearing the $90,000 mark. The pro-crypto sentiment surrounding Trump’s administration could attract institutional interest in XRP, should the case resolve favorably.

Brad Garlinghouse’s Vision for XRP’s Future

Ripple CEO Brad Garlinghouse continues to express confidence in the company’s future.. He believes clear regulations under a new administration could not only benefit Ripple but also promote wider adoption of XRP in global banking.

A favorable outcome in Ripple’s case could provide much-needed clarity to the cryptocurrency market, boosting confidence among investors and institutions. As the case nears its end, the market watches closely, eager to see how Trump’s pro-crypto stance shapes the future of digital assets.

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