Ripple Vs SEC: US SEC to Drop Appeal, Ex-CFTC and XRP Lawyers Say
Highlights
- Former CFTC Chairman Chris Giancarlo told FOX Business that the "new SEC will drop the appeal."
- Lawyer Bill Morgan asserts the appeal will largely disappear when SEC Chair Gary Gensler resigns on Jan 20.
- US court ruled in favor Ripple and CEO Brad Garlinghouse in another XRP lawsuit.
- XRP price jumps 10% to hit a new 3-year high today.
Ripple vs SEC: The US Securities and Exchange Commission (SEC) is likely to drop the appeal in the Ripple lawsuit. Former CFTC Chairman Chris Giancarlo and pro-XRP lawyers believe it’s “very plausible” that new SEC chair under the Trump administration will drop SEC v Ripple Labs lawsuit. It will also prove to be game changing for XRP.
Ripple vs SEC Lawsuit Nears Conclusion
FOX Business Charles Gasparino in an X post said he believes Donald Trump’s election as US President is proving game-changing for XRP. The post garnered massive buzz in the XRP Army, triggering bullish sentiment on Thanksgiving day.
In addition, Gasparino revealed that former CFTC Chairman Chris Giancarlo told him that the “new SEC will drop the appeal” against Ripple. The government agency has appealed the decisions on XRP sales by Ripple as well as executives Brad Garlinghouse and Chris Larsen as not securities. Meanwhile, the company has filed cross appeal whether investment contacts must have ‘essential rights and obligations.’
Pro-XRP Lawyers Bill Morgan, Fred Rispoli and Jeremy Hogan claimed that the appeals will likely get dismissed or withdrawn. Morgan in a post on November 29 added that the appeal would be dropped as Judge Torres made no error.
“The political motive for continuing a near hopeless appeal will largely disappear when its main internal SEC enabler Gary Gensler resigns on 20 January 25,” said Bill Morgan.
XRP Price Eyes Hitting $2 Soon
XRP army looks at least the $2 price rally amid SEC Chair Gary Gensler’s exit and Trump’s crypto policies. The Trump-Vance transition team has nominated pro-crypto leaders to lead government agencies. Paul Atkins is leading the race to become the next SEC chairman. Ripple CLO Stuart Alderoty is bullish on the move.
Another trip to $1.60 pic.twitter.com/1m7b039pSk
— bill morgan (@Belisarius2020) November 29, 2024
The price of XRP has rallied 200% amid the Trump trade. The price has hit $1.64 today, a new 3-year high. Trading volume is rising again as lawsuits are reaching near end.
As CoinGape reported first, US district court ruled in favor of Ripple and CEO Brad Garlinghouse in XRP lawsuit. The judge has now granted a motion to expedite judgment in the In re Ripple Labs Inc Litigation.
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