Ripple vs. SEC: Former CFTC Chair and XRP Lawyers Predict SEC Will Drop Appeal
Key Highlights:
- Former CFTC Chair Chris Giancarlo stated on FOX Business that the “new SEC will drop the appeal.”
- Lawyer Bill Morgan claims the appeal will likely be abandoned when SEC Chair Gary Gensler resigns on January 20.
- US courts ruled in favor of Ripple and CEO Brad Garlinghouse in a key XRP lawsuit.
- XRP price surged 10%, reaching a new 3-year high today.
Ripple vs. SEC Lawsuit Nears Resolution
The US Securities and Exchange Commission (SEC) may drop its appeal in the Ripple case, according to insights from former CFTC Chairman Chris Giancarlo and several pro-XRP attorneys. They believe it’s “very plausible” that a new SEC under a Trump administration will abandon the case, a potential game-changer for Ripple and XRP.
FOX Business correspondent Charles Gasparino noted that Donald Trump’s election as President has brought renewed optimism to the XRP community. Former CFTC Chair Chris Giancarlo indicated that the SEC is likely to drop its appeal against Ripple, a decision that could solidify Ripple’s legal victories.
The SEC had previously appealed rulings that XRP sales by Ripple and its executives Brad Garlinghouse and Chris Larsen were not securities. Meanwhile, Ripple has filed a cross-appeal to clarify if investment contracts must include ‘essential rights and obligations.’
Legal Experts Predict Appeal Dismissal
Pro-XRP attorneys, including Bill Morgan, Fred Rispoli, and Jeremy Hogan, believe the appeal will be dismissed or withdrawn. Morgan emphasized on November 29 that Judge Torres made no errors in the case, making the SEC’s appeal unlikely to succeed.
Morgan also noted that political motivations for continuing the appeal may vanish when SEC Chair Gary Gensler steps down on January 20, 2025. This timeline aligns with broader optimism around Ripple’s position in the market.
XRP Price Rally and Market Sentiment
The XRP community anticipates a $2 price target amid Gensler’s impending exit and pro-crypto policies under Trump’s administration. Pro-crypto leaders, including Paul Atkins, are expected to take key roles, potentially leading the SEC. Ripple CLO Stuart Alderoty expressed optimism about these developments.
XRP’s price has surged by 200% amid the so-called “Trump trade,” reaching $1.64 today, marking a 3-year high. Trading volume continues to climb as Ripple’s legal battles near conclusion.
A recent US district court ruling in favor of Ripple and Brad Garlinghouse further boosted investor confidence, with the case now moving toward expedited judgment.
Conclusion
With growing market momentum, Ripple’s legal wins, and leadership changes at the SEC, XRP appears poised for significant growth. Investors are increasingly optimistic as the Ripple vs. SEC saga draws to a close.
