Recent developments suggest that the U.S. Securities and Exchange Commission (SEC) may be reconsidering its stance on cryptocurrency enforcement, particularly concerning its ongoing appeal in the Ripple case. John Reed Stark, a former chief of the SEC’s Office of Internet Enforcement, has predicted that the SEC is likely to pause or fully withdraw its appeal against Ripple. This speculation follows the SEC’s recent decision to halt its lawsuit against Coinbase, indicating a potential shift toward a more lenient regulatory approach under the new administration.
The SEC’s enforcement strategy appears to be undergoing significant changes, especially with the recent appointment of Commissioner Mark Uyeda as the agency’s acting chairman. This leadership change has coincided with the formation of a Crypto Task Force aimed at establishing clearer regulatory guidelines for the cryptocurrency industry. These developments have led to the SEC pausing several crypto-related cases, including those against major exchanges like Coinbase and Binance.
Legal experts, including attorney Jeremy Hogan, have noted that the SEC seems to be addressing crypto litigation as deadlines approach, either by dismissing cases or requesting extensions. In the Ripple case, the next significant deadline is April 16, which could prompt the SEC to make a decisive move regarding its appeal.
These regulatory shifts have had a notable impact on XRP’s market performance. Since the election of President Donald Trump, XRP has experienced a significant surge, with its value increasing by approximately 414%, rising from $0.51 to $2.62. This growth is largely attributed to investor optimism about a more crypto-friendly regulatory environment under the new administration.
As of now, XRP is trading at $2.56, reflecting a slight decrease of 1.16% from the previous close. The intraday high reached $2.61, with a low of $2.55. Market participants are closely monitoring the SEC’s actions, as any official decision to withdraw the Ripple appeal could further influence XRP’s price dynamics.
