The lengthy legal dispute between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) may soon conclude, particularly in light of President Donald Trump’s recent election. Trump’s pro-crypto position could result in a more favorable regulatory environment for digital assets.
The appointment of a new SEC leader who is more receptive to cryptocurrencies by Trump could potentially expedite the resolution of Ripple’s legal issues, potentially resolving the case for the $125 million fine that was initially proposed. This change in leadership has the potential to enhance market confidence and institutional interest in Ripple’s technology by providing clarification on regulatory guidelines for digital assets.
Although the SEC’s appeal is ongoing, Ripple’s legal victory, which determined that XRP is not a security, was a significant milestone for the company. In the midst of the latest appeal’s disarray, a user took to social media to inquire whether the litigation could still be settled or withdrawn after it had been presented to the appeals court.
Fred Rispoli, an attorney and legal expert, responded to and addressed the aforementioned inquiry. The current price of XRP is approximately 60 cents, and it is exhibiting consistent growth. The critical support levels are 56 cents and 54 cents. This week, the altcoin has experienced a 19 percent increase, once again attributable to Trump. Bitcoin has reached the $88k threshold and is currently on the brink of the $90k mark.
The price of XRP could experience a substantial increase if Ripple’s case is resolved favorably, as the clarity of regulations would entice a greater number of investors and institutions. Brad Garlinghouse, the CEO of Ripple, is optimistic that a more transparent regulatory framework will enhance the adoption of XRP in global banking.
Also Read: Orderly Network to Expansion into Avalanche
