The SEC’s long-running case against Ripple is back in the spotlight. The atteion comes as Paul Atkins prepares to take over as SEC chairman, replacing Gary Gensler.
Additionally, the January 15th deadline to file an initial motion in the XRP case to the US Court of Appeals for the Second Circuit is approaching. Experts and lawyers have differe opinions about the possible results of this case.
Given the rece developmes, many experts believe that Atkins, the new SEC chairman, will likely dismiss the Ripple case.
These changes in the crypto market, especially in the case of Bitcoin and XRP, have taken place after the victory of Donald Trump in the US presideial election. Atkins’ appoime as SEC chairman has boosted positive seime in the crypto market.
Some lawyers supporting XRP, including Jeremy Hogan and Fred Rispoli, believe there is a high chance that the SEC’s lawsuit against Ripple will be dismissed under Atkins’ leadership. If such a situation occurs, this decision can lead to an increase in the price of XRP.
Also, the investigation io Bill Hinman, the former director of the SEC’s financial division, has been completed and referred to manageme. Ripple’s general counsel Stuart Alderotti has called on the new administration to “remove the Hinman stain from the agency” and suggested that trust in the SEC be restored.
All in all, many experts believe that the rejection of the SEC’s request in the Ripple case could significaly increase the price of XRP to $3 or even higher.
Also, analysts believe that the new SEC chair should move towards more pro-crypto policies, which in turn could lead to approval of the Ripple ETF.
