- Trump’s victory may influence the SEC’s approach to Ripple’s ongoing case.
- SEC leadership change could benefit Ripple and its legal standing.
- XRP’s subsequent success depends on Ripple’s constitutional conflicts and financial factors.
On November 6, 2024, Donald Trump secured a victory in the U.S. presidential race, sparking a surge in digital currency consumer interest. His win also resulted in Republicans gaining control of the Senate, though control of the House remains undecided. His leadership could influence the stance on XRP, especially in light of recent court rulings in Ripple’s favor.
Trump’s Influence on the SEC and Ripple’s Court Case
The organisation’s settlement argument with the SEC has been continuing for years, with the commission alleging that XRP is a security. Recently, the business secured a favorable ruling concerning programmatic sales of the coin, but the SEC has filed an objection. His victory might influence how the the commision handles the situation, especially since he has pledged to fire Chair Gary Gensler on his first day in office. He has been involved in various regulatory actions against crypto firms, including Ripple. Replacing him could lead to a change in the regulation’s approach toward digital asset enforcement.
If Gensler is replaced as promised, the new SEC leadership might reconsider the appeal or the broader stance on digital assets. This shift could significantly impact Ripple’s ongoing legal struggle and its future in the U.S. industry. Moreover, the SEC’s appeal, which is set to be filed soon after Trump’s inauguration, could face increased pressure under new leadership.
A Turning Point for XRP?
Trump’s win may represent a key moment for Ripple and the future of XRP. The SEC’s appeal of recent court rulings could be affected by the changing political and regulatory environment. If it withdraws its appeal, XRP could experience another price rally similar to the one following the 2023 ruling. Investor optimism may return, driving further interest in Ripple’s legal wins.
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Ripple’s technology continues to offer efficient solutions for international transactions. The token allows for extremely rapid transactions without the need for pre-funding, which frees up billions of dollars locked in Nostro/Vostro accounts. If the SEC’s stance softens, Ripple’s position in the market could grow stronger, leading to wider adoption of XRP.
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