News View Non-AMP

Ripple vs SEC: Gensler Set to File Opening Brief, Can New SEC Chair Override It?

Published by
Anjali Belgaumkar

In the ongoing legal battle between the SEC and Ripple, the parties have recently filed a stipulation indicating they will submit a deferred appendix for the cross-appeals 21 days after the appellee’s brief is served. The SEC is still required to file its opening brief by tomorrow (January 16).

Despite this, the XRP community is questioning whether the new SEC chair Paul Atkins could potentially retract the appeal. Bill Morgan, a legal expert, expressed uncertainty, suggesting that a vote by all five commissioners might not be required. Morgan has always anticipated the SEC would proceed with filing the opening brief, noting the appeal is arguable and the SEC holds a decent position for negotiation.

Former SEC lawyer Marc Fagel weighed in, stating that a newly-formed SEC would likely need to vote to dismiss the appeal, although it would be a highly unusual move. Morgan responded, acknowledging Fagel’s point but clarified he doesn’t expect the SEC to vote to dismiss. He suggested that the SEC might instead seek a better deal through settlement, even if enforcement actions shift under new leadership.

Morgan wrote on X,

I don’t see or at least don’t assume the SEC will vote to dismiss it. They could quietly negotiate a better deal by settlement even if the policy changes towards enforcement actions.

XRP Price Rallies

Ripple’s XRP is currently up by more than 12 percent and is now eyeing to break the crucial $3 mark. The altcoin is currently trading at the $2.85 mark after hitting a high of $2.87. President-elect Donald Trump’s inauguration is scheduled for January 20, coinciding with Gary Gensler’s resignation. Ahead of the event, crypto leaders will gather on January 17 to discuss the future of cryptocurrencies with crypto czar David Sacks.

FAQs

Did Ripple win the lawsuit?

Ripple (XRP) has secured regulatory clarity in the lawsuit driving a positive price action.  

Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

Recent Posts

Ripple CEO Sparks XRP Hype with Major XRPL Apex 2025 Announcement!

Ripple CEO Brad Garlinghouse has hinted at an exciting event set to take place in…

April 4, 2025

XRP vs. Bitcoin: Retail Investors Drive XRP’s Growth While BTC Stalls

A new report from Glassnode reveals an interesting shift in crypto investment trends. While Bitcoin…

April 4, 2025

Fartcoin Roars Back With 24% Surge: Eyes Locked On $1 As Momentum Builds.

Fartcoin (FART), the AI-backed memecoin cryptocurrency, blasted onto the scene with 24.5% price pop in…

April 4, 2025

Is First Digital Trust in Crisis? Justin Sun Exposes $100M Deficit

Tron founder Justin Sun has publicly accused First Digital Trust (FDT), a Hong Kong-based financial…

April 4, 2025

XRP Price Today: Can It Break Out or Will the Bearish Trend Continue?

The crypto market has been all over the place recently, and XRP is no exception.…

April 4, 2025

Top Altcoins to Watch in April 2025

Crypto markets had a wild week - prices jumped, dipped, and then bounced back, all…

April 4, 2025