The XRP community is currently buzzing with speculation over the possibility of an “emergency settlement” in the ongoing lawsuit involving Ripple. This wave of excitement has been fueled by recent developments, particularly the announcement of SEC Chair Gary Gensler’s resignation, which will be effective January 20, 2025.
BitBoy Addresses the Ripple Settlement Rumors
Renowned crypto influencer Ben Armstrong, widely recognized as BitBoy, has recently weighed in on the swirling rumors suggesting that the SEC might be considering a clandestine settlement with Ripple. In a recent YouTube video, BitBoy acknowledged the speculation but was candid about his inability to confirm the validity of these claims. He assured his audience that he would investigate further to uncover the truth.
The foundation of these rumors lies in the SEC’s private meetings, where ongoing cases and injunctions are deliberated. Intriguingly, such a meeting took place on November 21, coinciding with Gensler’s resignation announcement. The speculation regarding a possible settlement has significantly impacted XRP’s market performance, driving its price up by nearly 200%, with XRP reaching a value of $1.6 in recent days.
Former SEC Lawyer Weighs In
Adding depth to the ongoing discussion, Marc Fagel, a former attorney with the SEC, offered his insights into the situation. He emphasized that while past reports about Ripple settlement discussions had often been unfounded, the current rumors appear to possess greater credibility.
Fagel elaborated on the process, noting that if an appeal were to be dismissed (a rare occurrence but within the realm of possibility), it would not transpire until a new SEC Chair is appointed and confirmed. This scenario leaves ample room for speculative posts and wild theories leading up to the crucial January 15 brief filing deadline. He highlighted that any resolution would require time and that clarity might not emerge until these pivotal dates are reached.
XRP Poised to Hit $2 Mark
Market analysts are increasingly optimistic about XRP’s potential to reach an all-time high (ATH) sooner than anticipated. Currently maintaining a steady position around $1.55, XRP has experienced an impressive 18% surge today, elevating its market capitalization to $88 billion.
Over the past fortnight, XRP has achieved a remarkable 170% gain. With $2 as the next target, many investors and enthusiasts are eagerly watching for the possibility of a new all-time high. This momentum underscores the growing confidence in XRP’s future prospects and its ability to surpass previous milestones.
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