XRP News: XRP Community Buzzes Over Possible SEC Settlement

XRP News: A recent comment from lawyer James Murphy, also known as MetaLawMan on X, has sparked speculation about a potential end to the Ripple vs. SEC lawsuit. The speculation gained attention amid hints from billionaire investor Mark Cuban that Kamala Harris might adopt a more favorable stance on cryptocurrency. This development has fueled discussion in the broader digital assets space, let alone the XRP community.

XRP News: Is Ripple Vs. SEC Lawsuit Coming To An End?

The XRP lawsuit has been a hot topic in the crypto world, attracting significant attention from investors. Amid this, a recent comment from MetaLawMan has sparked further discussions in the crypto market, potentially hinting that Kamala Harris’ crypto pivot could bring an end to the ongoing legal battle.

In other words, many are speculating whether Kamala Harris’ potential crypto-friendly stance could lead to the dismissal of the ongoing XRP lawsuit as well as the cases against other cryptocurrency firms. However, MetaLawMan has dismissed claims over Kamala Harris turning soft towards crypto while urging the community to focus on actions rather than words.

Meanwhile, he outlined several steps that would indicate a genuine crypto pivot, which includes acknowledging and revoking Operation Chokepoint 2.0 and firing SEC Chair Gary Gensler. In addition, he also asked to drop cases against major crypto firms like Ripple, Coinbase, and Kraken, Binance and signed a bill to repeal SAB121.

Besides, he also urged granting Custodia Bank a Federal Reserve master account. Meanwhile, MetaLawMan’s comments have fueled discussions, suggesting that a policy shift could indeed impact the legal landscape for digital assets.

Also Read: XRPScan Shuts Down Elon Musk XRP Ownership Claims

Kamala Harris’ Crypto Pivot

Mark Cuban has hinted that Kamala Harris could introduce a more business-friendly approach to crypto regulation. In an email to Politico, Cuban said that he is hearing rumors, though not directly from Harris, that she plans to adopt a more business-friendly stance, embracing AI, cryptocurrency, and innovative governance.

By shifting policies, she aims to signal a new era of openness and receptivity to entrepreneurial endeavors. However, despite Cuban’s optimistic view, some market experts remain skeptical.

Meanwhile, many market watchers see this development as Kamala Harris turning her attention to the crypto sector, given it has become a key issue in the upcoming U.S. election. Simultaneously, this move sparks speculation that she may intervene in ongoing legal battles against crypto firms, potentially dropping the XRP lawsuit.

While no specific dates or developments have been confirmed, the anticipation surrounding the lawsuit’s conclusion is palpable. Notably, many believe that the XRP Lawsuit case to conclude soon, with Ripple CEO Brad Garlinghouse predicting victory in the legal battle.

In addition, some market watchers believe that a favorable outcome for Ripple could trigger a rally in XRP’s performance. The legal battle has been a major point of contention, with its resolution seen as a critical factor for the future of cryptocurrency regulation in the U.S. During writing, XRP price fell about 3% to $0.5978, amid a slump in the broader crypto market.

Also Read: Tom Emmer Slams US SEC Chair, Warns Against Kamala Harris’ Treasury Secretary Pick

Bitcoin Conference 2024 In Focus

Kamala Harris is likely to speak at the Bitcoin Conference 2024, further fueling speculation in the XRP community. Bitcoin Magazine CEO David Bailey confirmed talks with Harris’ campaign, saying it would be a savvy move to reset Democrat positioning on crypto.

Commenting on that, pro-XRP lawyer Bill Morgan sees this as a positive step, indicating openness to new crypto policies. However, some users remain skeptical, citing the administration’s past hostility towards crypto.

Despite this, the news has boosted market confidence, amid growing discussions about a potential shift in US policy towards crypto firms and the possibility of dropping the XRP lawsuit. In other words, Harris’ involvement could signal a significant turning point in the crypto space.

XRP Market Outlook

In the last 24 hours, the XRP price has been in a bearish momentum after failing to breach the $0.6274 resistance. This decline plummeted the XRP price to a low of $0.5975, where support was established. At press time, XRP was trading at $0.6179, a 0.43% decline from the intra-day high.

Concurrently, XRP’s market market capitalization fell by 0.42% to $34,547,286,331 while the 24-hour trading volume surged by 18% to $2,179,164,797. This surge in trading volume suggest that the traders are buying the dip in anticipation of  a price rally. This optimism is attributed to the speculations of an end to the Ripple Lawsuit in the SEC Closed Door meeting expected today.