The SEC v. Ripple case has everyone’s attention once again as Paul Atkins steps into the role of SEC Chair, succeeding Gary Gensler. With a deadline looming on January 15 for the SEC to file its opening brief in the XRP lawsuit in the 2nd Circuit Court of Appeals, many are curious about the possible outcomes of this high-stakes situation.
Incoming SEC Chair Paul Atkins could potentially dismiss the Ripple case. Since Donald Trump’s election, the crypto market, particularly coins like Bitcoin and XRP, has started to shift towards a more bullish outlook. Atkins’ nomination is seen as a favorable development for cryptocurrency enthusiasts. Experts and attorneys closely following the case—such as Jeremy Hogan, Fred Rispoli, and Bill Morgan—believe that there’s a good chance of the XRP lawsuit being dismissed under Atkins’ leadership, possibly launching XRP prices higher.
An ethics investigation into Bill Hinman, former SEC Director, has now wrapped up, paving the way for changes at the SEC. Ripple’s Chief Legal Officer, Stuart Alderoty, urged the new administration to “cleanse the lingering stain of Hinman from the agency,” emphasizing the need to restore public trust as Atkins assumes command.
The Digital Chamber noted that the SEC has a chance to mend its historically rocky relationship with the crypto industry. Members have proactively presented a 2025 SEC Digital Asset Policy to the agency, aiming for constructive dialogue.
As for the XRP lawsuit, the SEC’s opening brief is required by January 15, with many feeling optimistic that this could mark an end to the lawsuit. Some speculate that Gensler might attempt to make a significant move right before he departs, just days after this deadline. The SEC has already filed an extensive brief in its lawsuit against Binance, which Ripple’s CLO characterized as “failed arguments.” Gensler maintains his position that cryptocurrencies lack inherent value, a stance that has drawn criticism.
In contrast, many industry experts are hopeful that the incoming SEC might take a different approach. They anticipate not only a potential dismissal of the XRP lawsuit but also a price rally that could see XRP reach $3 and beyond. This optimism stems from a belief that Gensler’s aggressive regulatory stance has been detrimental, and that the new leadership could align more closely with a pro-crypto agenda influenced by Trump.
Another key deadline approaches as Ripple’s CEO Brad Garlinghouse prepares to submit a reply in April. The community is eagerly awaiting updates, including hopes of an XRP ETF approval under the new SEC.
Varinder Singh, with over a decade of experience in the fintech arena, emphasizes the importance of following this case closely. His insights into blockchain, crypto, and Web3 innovations make him a trusted voice in this fast-paced environment. As the market continues to evolve, staying informed is crucial for anyone involved in the crypto space.
Disclaimer: The views expressed here are solely the author’s opinions and subject to market fluctuations. Conduct thorough research before making any investment decisions in cryptocurrencies. The author or the publication is not liable for any financial losses.
