Turning Point on Horizon: Ripple vs SEC Lawsuit Developments May Impact XRP ETF Prospects
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XRP ETF Likely in 2025? Ripple vs SEC Lawsuit Reaches Critical Turning Point
The XRP community is anxiously awaiting the US Securities and Exchange Commission’s (SEC) appeal deadline on January 15th, as it may significantly impact the prospects of a potential XRP ETF approval. In November, the agency requested an extension to submit its appeal by early January, sparking speculation that they were waiting for the outcome of the US election.
However, with Donald Trump set to take office in the new year and Paul Atkins poised to become the next SEC chair, there is growing skepticism about whether the agency will indeed proceed with the appeal. The appeal process typically takes around a year to complete, but the possibility of dismissing the appeal is not unprecedented and may be more likely given the incoming administration’s stance on cryptocurrencies.
Ripple’s Chief Legal Officer (CLO), Stuart Alderoty, has also urged an end to this four-year legal battle, as he believes that with Atkins at the helm, there could be a chance for the industry to move forward and gain clarity. The clarification of XRP’s security status would likely accelerate the approval of the XRP ETF.
If the appeal is indeed dismissed, it may lead to significant positive momentum in the market, potentially pushing XRP prices above $5. This sentiment has already been reflected in the current market positioning, with some investors waiting for a potential ETF approval or anticipating a 2025 altcoin season.
In addition, notable crypto analyst Lark Davis recently shared a bullish message regarding the future of cryptocurrencies, stating that when the market reaches a market cap of $10 trillion, it will unleash “mind-blowing gains that most people can’t even fathom.” This sentiment has further fueled the already optimistic atmosphere in the XRP community.
Overall, with the critical turning point approaching, investors are eagerly anticipating the outcome of the SEC’s appeal deadline. If dismissed, this could be a pivotal moment for XRP’s price and potential market growth.
Source: coinpedia.org
