After Bitcoin’s $100K rally fizzled out, the market has quickly returned to its previous levels, leaving many wondering: Was this just a fakeout, or is there more to the story? The current dips, however, are still part of Bitcoin’s broader bull cycle. At the same time, mounting pressure in the crypto space is weighing heavy, much of it linked to recent actions by former President Trump. While some celebrate his pro-crypto stance, there’s also a sense of growing uncertainty.
Keep reading to see how these events could shape the future of the market.
The deadline for the U.S. SEC’s appeal in the Ripple lawsuit is fast approaching on January 15, 2025. The crypto world is eagerly waiting to see what happens next. Rumors suggest the SEC may not back down from its ongoing crypto cases, despite earlier predictions.
Legal experts are divided on whether the SEC will appeal the ruling or ask for an extension in the Ripple vs. SEC lawsuit. Attorney Jeremy Hogan suggested the SEC could request a 30-day extension to explain its delay in filing the appeal, pointing to leadership changes within the commission.
Hogan believes Ripple and the court might agree to this delay, giving both sides more time to assess the situation.
The recent shift in SEC leadership could also impact the lawsuit. Paul Atkins, the new SEC Chair, is known for his more balanced stance on cryptocurrency regulation. A former SEC Commissioner, Atkins could take a more favorable regulatory approach for Ripple and the broader crypto industry.
Ripple CEO Brad Garlinghouse has expressed strong support for Atkins, calling him an “outstanding choice” and emphasizing the need for common-sense regulation. Garlinghouse even suggested that Atkins’ leadership could mark the end of the “prohibition era” for cryptocurrencies.
Amid the Ripple vs SEC drama, the crypto world is on edge—read the XRP price prediction to see where this legal battle could take the token next!
Despite the optimism around Atkins, some experts remain cautious. Bill Morgan, for example, has voiced concerns about the future of the SEC, especially since Jorge Tenreiro, a key figure in the Ripple case, is likely to sign the SEC’s appeal brief. Morgan worries that Tenreiro’s influence could prevent a shift in the SEC’s approach to crypto regulation.
Eleanor Terrett also pointed out that it will be interesting to see if Atkins follows the example set by Gary Gensler. When Gensler became SEC chair in 2021, he replaced all members of the Public Company Accounting Oversight Board (PCAOB), despite their staggered terms.
As the Ripple vs. SEC case continues, the crypto world remains on edge. XRP has dropped 13% in the last 24 hours, sitting at $2.30 on December 5, after hitting a high of $2.90 just days earlier. While Bitcoin continues to perform well above $100,000, XRP’s correction is part of the typical market fluctuations.
Will January 2025 be a key month for XRP’s future? Only time will tell.
The SEC’s appeal deadline in the Ripple lawsuit is set for January 15, 2025, marking a critical date for the case’s future.
XRP’s recent drop is part of market volatility, with a 13% dip after peaking at $2.90, while Bitcoin continues to thrive above $100K.
Paul Atkins, known for a balanced crypto stance, may influence a more favorable regulatory approach for Ripple and the crypto industry.
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