XRP is currently trading at $0.61, after a recent surge of nearly 7%. This rally is driven by optimism about potential regulatory clarity and broader market movements, especially with the ongoing Trump-induced rally, which could continue through the month. But will XRP’s price continue to rise?
While the market celebrates the recent spike in XRP’s price, the ongoing legal case between Ripple and the U.S. Securities and Exchange Commission (SEC) remains a major issue. This case has become one of the most important regulatory battles in the crypto world, and with possible government changes, the outcome could be in Ripple’s favor.
However, as noted by Morgan, Ripple may still hold back from actively promoting XRP in the U.S. – here’s why.
XRP lawyer Bill Morgan explained why Ripple is unlikely to promote XRP the same way Bitcoin is promoted. The main reason is the company’s ongoing legal battle with the SEC, which puts strict limits on Ripple’s actions.
Morgan pointed out that Ripple’s previous sales of XRP to retail investors were not considered investment contracts, mainly because Ripple did not actively market the token to retail holders. But since the SEC is appealing this decision, Ripple is being cautious and avoiding activities that could bring more regulatory attention.
Morgan also compared Ripple’s situation to Bitcoin’s. Bitcoin is considered a non-security, which means its supporters can promote it freely without legal risks. In contrast, XRP faces stricter rules, which limit Ripple’s ability to market it. Morgan argues that this difference gives Bitcoin an “unfair advantage,” helping it grow in adoption more easily than XRP.
The Ripple-SEC case remains a key topic in the crypto community. Recently, the U.S. Court of Appeals set a deadline for the SEC to submit its opening brief by January 15, 2025. The outcome of this appeal could significantly affect the future regulation of digital assets.
If the SEC misses this deadline, Ripple could get a clearer regulatory path, which might allow it to promote XRP more openly.
Is a Settlement Coming?
Famous lawyer Jeremy Hogan believes a change in leadership at the SEC could lead to the dismissal of many non-fraud-related cryptocurrency cases. But in Ripple’s case, Hogan thinks a settlement of around $125 million is likely. He believes the SEC would not accept anything less than what the court has already awarded, suggesting that a resolution might come without further legal battles.
Despite the cautious approach, XRP is seeing more optimism lately as its price recently climbed above $0.61, sparking talks of a possible price rally. Ripple CEO Brad Garlinghouse is confident in XRP’s future, pointing out that it was once the second most valuable crypto. With clearer regulations and the potential for an XRP ETF approval, things are looking good for XRP and its investors.
Is XRP poised for a comeback? Only time will tell.
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