What Might Come Next for Ripple?

TL;DR

Gary Gensler’s tenure at the US Securities and Exchange Commission (SEC) may be over, but the lawsuit against Ripple remains ongoing. John Deaton, an American lawyer representing thousands of XRP investors, believes there are three possible outcomes for the case.

Background

Gensler resigned on January 20, the day Donald Trump became America’s 47th President, and was replaced by Mark Uyeda. Gensler was considered an enemy of the cryptocurrency industry, while his successor stands in the opposite corner. Last year, Uyeda criticized the SEC’s previous leadership for its negative stance on the sector.

The Commission’s war on crypto must end, including crypto enforcement actions solely based on a failure to register with no allegation of fraud or harm.

What’s Next?

The XRP Army has interpreted the changes as a positive factor that could lead to a faster and potentially favorable resolution in the Ripple case. Most recently, John Deaton gave his two cents.

Three Possible Scenarios

Deaton believes there are three possible scenarios. The first involves continuing the SEC’s appeal. The second option is a dismissal of the appeal, which would require Ripple to pay the previously ordered $125 million penalty. The third scenario is the most favorable (and most unlikely) for Ripple, which includes the SEC withdrawing its appeal and scrapping the firm’s $125 million fine.

I don’t see the SEC saying: “No, we’re going to deny a judge’s ruling.” So that’s why I think the middle one is the option.

The SEC Looks Like the Underdog

Despite not outlining when the case might be officially over, Deaton believes Ripple’s victory is just a matter of time. He based his thesis on the fact that the current President of the USA – Donald Trump – has completely changed his stance on the digital asset sector, planning to make the country the crypto capital of the world.

Conclusion

The future of the Ripple case remains uncertain, but Deaton’s predictions are intriguing. With Trump’s positive crypto stance and recent policy moves, it’s possible that Ripple’s chances have improved. However, only time will tell what the outcome will be.

FAQs

Q: What is the current status of the Ripple case?

The lawsuit is ongoing, with three possible outcomes: continuing the SEC’s appeal, dismissing the appeal with a $125 million fine, or the SEC withdrawing its appeal and scrapping the fine.

Q: How does the change in leadership at the SEC impact the Ripple case?

The new leadership at the SEC, under Mark Uyeda, is more open to the cryptocurrency sector, which could potentially lead to a faster and more favorable resolution in the Ripple case.

Q: What is the significance of Donald Trump’s stance on cryptocurrency?

Trump’s positive crypto stance could improve Ripple’s chances, as he plans to make the United States the crypto capital of the world. This could lead to a more favorable outcome in the Ripple case.

Q: What is the $125 million fine?

The $125 million fine was ordered by the court as a result of Ripple’s violation of certain rules. The company is still contesting the fine.

Q: How does the future of cryptocurrency look under Donald Trump?

Trump has changed his stance on cryptocurrency, and his administration is planning to make the United States the crypto capital of the world. This could lead to a more favorable environment for cryptocurrencies like XRP.

Q: What is the significance of the National Digital Asset Stockpile?

The creation of a National Digital Asset Stockpile is a key initiative by Trump’s administration to establish a strategic BTC reserve in the US. The scope of the effort has expanded to include other cryptocurrencies, including XRP.