The long-running XRP lawsuit has been on the investors’ radar this year, with a flurry of developments sparking market discussions. Besides, with pro-crypto Paul Atkins gearing up to replace the current US SEC Chair, Gary Gensler, the optimism further soars indicating a potential surge in Ripple price ahead. Besides, it also fueled speculations over a potential drop of the Ripple Vs SEC case, with the January 15 deadline approaching for the SEC to file an opening brief in the 2nd Circuit Court of Appeals.
What Happens if US SEC Drops The XRP Lawsuit?
The XRP lawsuit is one of the long-running cases in the crypto space and has gained notable traction from investors lately. However, with Donald Trump’s election win in November, the market sentiment remained high over a potential pro-crypto regulatory environment in the US.
In addition, it also fueled speculations about whether the incoming US SEC chair Paul Atkins would dismiss the Ripple vs SEC case ahead. Notably, the current US SEC Chair, Gary Gensler, whom many deem an anti-crypto regulatory, will leave his position in January. In addition, Trump’s inauguration on January 20 has further bolstered market sentiment.
Now, as the crypto-friendly Paul Atkins is set to replace Gensler, the market sentiment remained positive over a potential drop in the Ripple case. Notably, pro-XRP lawyers like Bill Morgan, Jeremy Hogan, Fred Rispoli, and others, have also indicated a potential dismissal of the legal case under the incoming US SEC chair.
On the other hand, the January 15 deadline for the US SEC to file its opening brief in the 2nd Circuit Court of Appeals is also approaching. Simultaneously, Ripple CTO Stuart Alderoty also called for an end to the ongoing XRP lawsuit, which has further fueled speculations in the market. This has also sparked discussions over its potential impact on Ripple price, with many anticipating a robust rally ahead.
Will Ripple’s Native Crypto Price Rally?
The market sentiment towards Ripple’s native crypto remained high, as evidenced by its robust rally recently. However, the rally has recently faded with the investors taking a pause amid the holiday mood. XRP price today was down nearly 6% and exchanged hands at $2.06, with its trading volume soaring 78% to $4.43 billion. However, CoinGlass data showed that XRP Futures Open Interest rose about 2%, indicating a bullish sentiment ahead for the crypto.
Despite the recent dip, a flurry of experts expect a potential rebound ahead for Ripple price, especially with optimism soaring over a potential dismissal of the XRP lawsuit. For context, popular market expert EGRAG CRYPTO recently predicted the crypto to hit $6 by March 2025. On the other hand, he further said that the crypto is likely to hit between $13 and $27 in this bull cycle, reflecting his growing confidence in the crypto.
However, the investors are keeping close track of the Ripple price, with the recent market volatility in focus. A recent XRP price analysis also hinted that the crypto could crash to $1 ahead before continuing its another run towards the north. Besides, if the US SEC, under Chair Gary Gensler, files its opening brief before the January 15 deadline, it could further weigh on the traders’ sentiment, which in turn could impact its price.
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