The long-term case of the U.S. Securities and Exchange Commission (SEC) against Ripple is back in the spotlight. This attention comes as Gary Gensler is being replaced by Palatine Atkins as the new SEC Chair.
Moreover, the deadline of January 15 to submit the initial request in the XRP case to the U.S. Court of Appeals is approaching. Experts and lawyers have differing opinions on the possible outcomes of this case.
Recent developments have led many experts to believe that Atkins, the new SEC Chair, will likely dismiss the Ripple case.
These changes in the crypto market, particularly regarding Bitcoin and XRP, have occurred after Donald Trump’s victory in the U.S. presidential election. Atkins’ appointment as the SEC Chair has strengthened positive sentiments in the crypto market.
Some XRP-supporting lawyers, including Jeremy Hogan and James K. Filan, believe that there is a high chance the SEC’s complaint against Ripple under Atkins’ leadership will be dismissed. If such conditions occur, this decision could lead to an increase in XRP’s price.
Furthermore, investigations into Bill Hinman, the former director of the SEC’s Division of Corporation Finance, have been completed and referred to management. Stuart Alderoty, Ripple’s General Counsel, has asked the new government to ‘clean up the remnants of Hinman’ from the agency and suggested that trust in the SEC be restored.
Overall, many experts believe that a dismissal of the SEC’s request in the Ripple case could greatly increase XRP’s price and push it to $3 or even higher.
Analysts also argue that the new SEC leadership should lean towards crypto-friendly policies, which in itself could lead to the approval of Ripple ETFs.
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