YEREVAN (CoinChapter.com) — Ripple Chief Legal Officer Stuart Alderoty announced a notable legal victory against SEC Chair Gary Gensler on Nov. 23. He credited Ripple’s leaders Brad Garlinghouse and Chris Larsen, along with the legal team, for their contributions during the prolonged legal battle.
Alderoty commented:
SEC Appeal Could Shift XRP Market Dynamics
The SEC appeal remains critical to XRP’s market trends. The agency must file its opening brief by Jan. 15, coinciding with SEC Chair Gary Gensler’s expected departure. Market observers recall Jay Clayton, the former SEC Chair, filing the Ripple lawsuit on his last day in office.
Speculation surrounds Gensler’s next moves. A pro-crypto SEC Chair, potentially appointed under the Trump administration, might reconsider the appeal. If the appeal is withdrawn, Ripple’s victory could set a precedent for crypto regulation, particularly regarding the Programmatic Sales of XRP.
Pro-crypto attorney Bill Morgan addressed the likelihood of a withdrawal under new SEC leadership. He stated,
“I just don’t see how any new SEC chairperson selected by Trump can continue the enforcement cases against Ripple and the exchanges. The Ripple case is easy to end. Abandon the appeal and take the $125 million fine.”
If the SEC abandons its appeal, the decision could affect cases involving Coinbase (COIN) and Binance, reducing regulatory pressure on the crypto market. This could also encourage regulatory frameworks that emphasize innovation alongside investor protection.
XRP Price Movements Reflect Market Uncertainty
On Nov. 25, XRP experienced a minor decline of 0.14%, closing at $1.45705. The day’s price action followed similar trends, with the high reaching $1.46514 and the low at $1.45445. A lack of developments concerning the SEC’s appeal could have contributed to the price fluctuations.
The outcome of Ripple’s legal case could affect XRP’s ability to surpass $1.50 and approach the May 2021 high of $1.81. If the SEC continues its legal approach, XRP could face pressure and move closer to $1.
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