Ripple 
$0.668184 community is demanding that the long-running SEC case be dismissed and SEC Chairman Gary Gensler resign. Ripple CEO Brad Garlinghouse stated that he expects the case to be resolved after Donald Trump’s victory. Additionally, Trump’s top 100-day task list includes removing SEC Chairman Gensler and ensuring crypto regulatory clarity.
Possibility of Dropping the Case
Experts and lawyers on the case between Ripple and the SEC share the view that policy changes after Trump’s election as president may contribute to the dismissal of the case. The crypto industry could see significant gains with Trump’s re-election as president, as Trump promises crypto regulatory clarity.
Ripple’s CTO David Schwartz argued that the SEC is creating chaos around securities law by using the term “investment agreement.” Schwartz explained that the company is legally bound to XRP holders, not Ripple shareholders. Pro-XRP lawyer Bill Morgan stated that Ripple did not meet the third criterion of the Howey test because the sale of XRP was not in accordance with the program.
“The SEC treats all reasonable reliance as a contract. This often works in reverse. If you think someone can reasonably do something they can trust me with because it is in their best interest, there is no need for a contract.”
Lawyer Fred Rispoli said the Ripple-SEC case could be withdrawn or resolved at any time. However, he stated that withdrawing the XRP case was “unrealistic” and that it was likely to be resolved.
Former SEC lawyer James Farrell stated that the probability of Ripple, Coinbase and other cases being dropped is zero. He added that if the SEC drops the XRP case, it would have a significant negative impact on the regulator. The best scenario seems to be that the parties agree to civil penalties of $125 million.
American Securities Association President Chris Iacovella demanded that SEC Chairman Gary Gensler resign. Critics argue that Gensler’s regulatory approach creates uncertainty, hinders efficiency in markets and neglects some investor protections.
XRP Investors Await Price Increase
XRP price is currently trading around $0.67 and is up over 15% in the last 24 hours. Trading volume increased by 166% following Trump’s re-election. Experts predict that the altcoin season could raise the XRP price up to $1. XRP futures open positions increased by 25% in the last 24 hours to $1.11 billion.
The US SEC must file its opening argument on appeals in the SEC and Ripple Labs case by January 15, 2025.
Although the possibility of the Ripple case being dropped is slim, a compromise can be reached. Investigations at the Wells notification stage are likely to be dropped, and this will have a positive impact on many cryptocurrencies.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
