XRP Surges on Hopes New Crypto-Friendly SEC Will Give Ripple a ‘Big Win’ – DL News
- The SEC is appealing a court decision claiming that XRP is not a security.
- Now the company is waiting for a more cryptocurrency-friendly agency.
- Analysts see the price of XRP rising.
New year It bodes well For XRP.
With a long-running lawsuit between Ripple, the parent company of XRP, and the US Securities and Exchange Commission, analysts are becoming more optimistic.
“If the SEC appeal is denied, or if the next SEC leadership chooses to settle instead, this would be a huge win for Ripple,” GSR Research Analyst Carlos Guzman said.
He said DL News That positive decision should lead to XRP rising.
In December 2020, the SEC filed a lawsuit against Ripple for allegedly violating US securities laws when the company sold XRP to institutional investors. Judge Analisa Torres Last year’s ruling That XRP was not a security.
But the SEC appealed Torres’ decision, and now all eyes are on President-elect Donald Trump.
He will take office on January 20, and many cryptocurrency companies like Ripple are hoping that his administration will change the regulatory environment – sending prices higher in the process.
Trump has put forward several pro-crypto figures for key regulatory positions, including the Securities and Exchange Commission. nominated Crypto ally paul atkins As head of the agency.
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XRP to join Bitcoin
A favorable legal outcome would place XRP among a select group of digital assets, Guzman said. This can too means XRP exchange-traded fund On the cards.
Eric Balchunas, an ETF expert at Bloomberg, predicts a flood of new cryptocurrency ETFs — especially when considering… Record success Spot Bitcoin ETFs. It is believed that XRP should be among the first to receive its approval.
However, any new cryptocurrency ETFs face approval processes that take months, Guzman said.
Auspicious year 2025
Ripple hopes for a bright future.
Increasing company adoption New stablecoin RLUSD Guzman said the company should reinforce its narrative as a legitimate payment option DL News.
The recent rise in cryptocurrency prices may revive investors’ relationship with XRP.
“Given the renewed retail interest in XRP that we saw in November and December, these positive developments could spur another wave of investor interest,” Guzman said.
Pedro Solemano is markets reporter at DL News. Got a tip? Send him an email at psolimano@dlnews.com.
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2025-01-10 20:43:00
