Ripple’s future remains uncertain as the SEC’s appeal in the ongoing lawsuit against the company could shape XRP‘s price movement.
With Gary Gensler’s departure from the SEC, the agency’s new leadership may signal changes in the case. XRP’s price is reacting to these developments, with the token falling 9.55% on January 19, 2025, closing at $2.95.
The SEC’s upcoming decision on whether to withdraw its appeal against the Programmatic Sales of XRP ruling could determine the token’s future.
If the SEC withdraws, XRP could see increased demand, especially with the potential approval of an XRP-spot ETF. A successful appeal, however, could lead to XRP delistings on US exchanges, further driving the price down.
John E. Deaton, who represents XRP investors, has called for the dismissal of all non-fraud crypto cases, including Ripple’s, arguing that new policies could create a more favorable environment for crypto innovation. Ripple’s legal case is a significant factor influencing XRP’s market performance.
Meanwhile, Bitcoin (BTC) has experienced some downward pressure, dipping below $100K. This comes as President-elect Donald Trump makes moves in the crypto market, launching a meme coin and raising speculation about a US Strategic Bitcoin Reserve.
Analysts predict that Trump’s crypto policies, such as potential BTC purchases, could drastically affect Bitcoin’s price. However, BTC remains volatile, with some analysts predicting a return to $108K, depending on government actions.
XRP’s and Bitcoin’s market directions depend heavily on regulatory decisions. XRP’s price could rise if the SEC withdraws its appeal, while BTC’s trajectory could shift based on Trump’s cryptocurrency policies.
Stay tuned for more updates on these developments and their effects on the cryptocurrency market.
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