The Ripple SEC Lawsuit has been a topic of discussion recently, with the U.S. Securities and Exchange Commission hinting at continuing to target “digital asset securities” amid the ongoing appeal in the Second Circuit Court. As XRP price surged past $1, there is speculation of a rally to $2, especially with the possibility of Gary Gensler’s resignation and the end of the XRP lawsuit during Donald Trump’s presidency. In a recent speech, Gensler emphasized that Bitcoin is not a security but did not mention XRP in the same context as Bitcoin, ether, and stablecoins.
Crypto lawyer James Murphy, also known as MetaLawMan, criticized the SEC for once again using the term “digital asset securities” in relation to XRP. The agency has been accused of disregarding court orders regarding XRP’s security status in the Ripple SEC Lawsuit and failing to comply with recent apologies for using similar terms in lawsuits. The regulator has appealed the summary judgment on XRP sales by Ripple, distribution to employees, sales on exchanges by the company’s executives, Brad Garlinghouse and Chris Larsen.
The crypto community has been calling for the dismissal of the long-running Ripple SEC lawsuit and the resignation of SEC Chair Gary Gensler. Ripple CEO Brad Garlinghouse is hopeful for a resolution or end to the lawsuit following Trump’s win. Ripple CTO David Schwartz clarified that the company is legally obligated to Ripple shareholders, not XRP holders, and the company’s efforts do not directly impact digital asset prices. The XRP lawsuit is expected to be dismissed or settled with a $125 million resolution.
Lawyer Bill Morgan suggested that XRP’s price is not solely influenced by Ripple’s efforts but also by factors such as long-term investor sentiment. Gensler’s potential resignation and the prospect of the Ripple SEC lawsuit ending triggered a XRP price rally to $1, with further momentum expected to push the price to $1.6–$2. Analyst CredibleCrypto believes XRP could reach a new all-time high sooner than expected, with a 250% higher target based on technical analysis.
XRP’s price has seen a 1% increase in the last 24 hours and a 60% surge in a week, currently trading at $1.13. The 24-hour low and high are $1.07 and $1.15, respectively, with a 7% rise in trading volume signaling increased interest among traders. The strong sentiment within the XRP community, coupled with potential policy changes under Trump, is expected to maintain bullishness in the crypto market, driving XRP’s price further.
