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TL;DR
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XRP supporters hope Paul Atkins’ eventual SEC leadership will bring a favorable resolution for the Ripple case, given his pro-crypto stance in the past.
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One legal expert predicts a settlement before April 16, while ongoing uncertainty continues to weigh on XRP’s price, currently down 33% from its local high.
The New Chairman Might Soon Take the Helm
Contrary to the closed or paused cases between the US Securities and Exchange Commission (SEC) and numerous crypto entities, the legal battle against Ripple remains unresolved. The topic is among the most discussed in the space, and as such, it has become the subject of multiple speculations.
Most recently, some X users have raised hopes that the eventual appointment of Paul Atkins as the regulator’s new Chairman could contribute to a favorable resolution for Ripple.
The American, nominated by US President Donald Trump, is reportedly scheduled for a committee hearing on March 27. The Senate will then vote on his appointment, and if confirmed, he will become the next leader of the SEC.
Atkins is known for his pro-crypto stance, which might explain why XRP proponents are awaiting his arrival at the scene. He has also previously criticized the SEC for its approach toward the digital asset industry. Speaking on a podcast in 2023, Atkins claimed that the FTX crisis became an “international debacle” because the agency didn’t enforce a clear regulatory framework for the sector.
An Outcome in Less Than a Month?
Not long ago, American attorney Fred Rispoli also put his name on the list of people expecting a resolution in the short term. He claimed that Ripple and the SEC might reach a mutual agreement before April 16 (a date that marks the firm’s scheduled filing of their appellate brief).
For her part, Fox Business journalist Eleanor Terrett revealed that she has inside information that the lawsuit “is in the process of wrapping up and could be over soon.”
According to her sources, the SEC had been thoroughly examining the tussle and is now “seemingly unsure” whether Ripple violated any rules. Recall that Judge Torres found that the company’s institutional sales of XRP tokens breached federal securities laws and ordered a fine of $125 million.
The Delay Isn’t Helping XRP
Some market observers believe the ongoing case is among the obstacles preventing Ripple’s native token from launching a new bull run.
The US lawyer Bill Morgan shared a similar thesis, warning the community that the continued uncertainty about the case’s outcome may “exert a negative pressure” on XRP.
Currently, the asset’s price is hovering around $2.25 (per CoinGecko’s data), a 33% decline from the local top of almost $3.40 registered in mid-January.
The post Ripple v. SEC Lawsuit Speculation: Can This Key Development Lead to a Resolution? appeared first on CryptoPotato.
