With Donald Trump’s recent triumph in the 2024 U.S. presidential election, the cryptocurrency community is buzzing with optimism. Supporters are particularly hopeful for a positive shift in Ripple’s ongoing legal battle with the Securities and Exchange Commission (SEC). Legal experts, such as Attorney Jeremy Hogan, have expressed their views on the potential outcomes for Ripple and other crypto-related cases like those involving Coinbase. Hogan speculates that the SEC may finally resolve some of these long-standing cases under new leadership.
Ripple vs. SEC Case: What To Expect
According to Hogan, there is potential for the Ripple-SEC lawsuit to reach a resolution following Donald Trump’s inauguration. This could become a reality if SEC Chair Gary Gensler steps down before January 20, paving the way for a new head of the SEC. This change in leadership could prompt the closure of non-fraud crypto cases.
Hogan anticipates that the new leadership would meticulously review each crypto case, deciding whether to settle or dismiss them. With three commissioners appointed by Republicans, he envisions a strong likelihood that these recommendations would be approved, potentially leading to the closure of cases involving Ripple, Coinbase, and others.
For Ripple, Hogan suggests a potential settlement for the $125 million judgment amount that has been previously set by the court. Conversely, Coinbase and other companies might see their cases dismissed altogether, given the absence of fraud allegations.
Expected Timeline for Resolutions
While these changes are unlikely to occur overnight, Hogan predicts that significant progress could be made by the summer of 2024. His analysis provides a ray of hope that a fresh approach at the SEC could finally bring clarity to these prolonged crypto legal battles, thereby reshaping the regulatory landscape for digital assets.
XRP To Hit $0.94
The election of Donald Trump has sparked optimism within the crypto community, leading to a surge in XRP’s value. Currently trading above $0.55, experts forecast that this digital asset could soar toward $0.94, potentially reaching its July 2023 high when Ripple experienced a partial legal victory. If a settlement is on the horizon, XRP’s price might climb even higher.
Trump’s victory has fueled excitement about the possibility of crypto-friendly policies, which could include the approval of an XRP Exchange-Traded Fund (ETF) — a proposal the SEC has previously resisted. Such developments could significantly impact the future of cryptocurrencies and their regulatory environment.
