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Ripple vs SEC: Are We Finally Close to XRP’s Legal Resolution?
The long-standing legal battle between Ripple (XRP) and the United States Securities and Exchange Commission (SEC) has left investors on edge. While some believe that Ripple might be closer than ever to securing a resolution, others argue that the situation is more complex than we think.
Recent events suggest that the SEC may not be as quick to resolve this case as previously expected. The regulatory body and Binance have agreed to pause their case for 60 days, sparking rumors of a larger development on the horizon. Some experts believe this hiatus could be strategic, allowing the SEC to wait for new leadership before making any major decisions.
Paul Atkins is widely expected to become the next SEC Chair, which could lead to significant changes in the commission’s approach to cryptocurrency regulation. According to Pro-XRP lawyer James Murphy, Atkins’ confirmation could happen within 60 days. If this happens, experts predict that the SEC might fast-track the dismissal of ongoing crypto cases, including Ripple’s.
However, not everyone agrees with Murphy’s assessment. XRP attorney Bill Morgan questions why the SEC cannot simply vote on dismissing the lawsuit at present, emphasizing that there is no legal barrier preventing them from doing so. Former SEC lawyer Marc Fagel provides an alternative perspective, pointing out that dismissing lawsuits requires a formal commissioner vote, unlike other decisions which do not require such action.
In light of this uncertainty, XRP’s price movement could be significantly impacted by the outcome of the Ripple vs. SEC case. Some experts believe that the court ruling could lead to a positive outcome for Ripple, potentially sending the cryptocurrency’s value soaring. This could be particularly significant if Ripple secures regulatory clarity in the lawsuit.
Crypto enthusiasts are closely monitoring the situation as it unfolds, and there is growing speculation that an XRP ETF might receive approval soon. The SEC would need to settle this case before allowing a Ripple ETF into the market, which would have immense implications for the cryptocurrency’s price trajectory.
In the meantime, some analysts are predicting big gains for XRP in the near future. According to EGRAG CRYPTO, the cryptocurrency is poised to reach double digits and potentially even triple digits based on technical analysis and data.
Source: coinpedia.org
