XRP Legal Victory: Ripple CLO Speaks Out as SEC Appeal Looms

Key Takeaways:

  • Ripple CLO Stuart Alderoty highlighted a notable legal victory, crediting Ripple's leadership and XRP Army for support.
  • SEC's January 15 appeal deadline remains critical for XRP, as regulatory changes could shift market dynamics.
  • XRP closed at $1.45705 on Nov. 25, reflecting market uncertainty amid Ripple’s ongoing legal battle with the SEC.
SEC vs Ripple
SEC vs Ripple

YEREVAN (CoinChapter.com) — Ripple Chief Legal Officer Stuart Alderoty announced a notable legal victory against SEC Chair Gary Gensler on Nov. 23. He credited Ripple’s leaders Brad Garlinghouse and Chris Larsen, along with the legal team, for their contributions during the prolonged legal battle.

Alderoty commented:

A tweet by Ripple Chief Legal Officer Stuart Alderoty highlighting Ripple's legal victory, crediting Ripple's team, Brad Garlinghouse, Chris Larsen, and the XRP Army for their resilience and support.
Ripple Victory Statement. Source: Stuart Alderoty on X

SEC Appeal Could Shift XRP Market Dynamics

The SEC appeal remains critical to XRP’s market trends. The agency must file its opening brief by Jan. 15, coinciding with SEC Chair Gary Gensler’s expected departure. Market observers recall Jay Clayton, the former SEC Chair, filing the Ripple lawsuit on his last day in office.

Speculation surrounds Gensler’s next moves. A pro-crypto SEC Chair, potentially appointed under the Trump administration, might reconsider the appeal. If the appeal is withdrawn, Ripple’s victory could set a precedent for crypto regulation, particularly regarding the Programmatic Sales of XRP.

Pro-crypto attorney Bill Morgan addressed the likelihood of a withdrawal under new SEC leadership. He stated,

“I just don’t see how any new SEC chairperson selected by Trump can continue the enforcement cases against Ripple and the exchanges. The Ripple case is easy to end. Abandon the appeal and take the $125 million fine.”

 A tweet by pro-crypto lawyer Bill Morgan discussing the SEC's potential withdrawal of its appeal in the Ripple case, emphasizing the ease of resolving the matter and suggesting a $125 million fine settlement.
Ripple Case Resolution Comment. Source: Bill Morgan on X

If the SEC abandons its appeal, the decision could affect cases involving Coinbase (COIN) and Binance, reducing regulatory pressure on the crypto market. This could also encourage regulatory frameworks that emphasize innovation alongside investor protection.

XRP Price Movements Reflect Market Uncertainty

On Nov. 25, XRP experienced a minor decline of 0.14%, closing at $1.45705. The day’s price action followed similar trends, with the high reaching $1.46514 and the low at $1.45445. A lack of developments concerning the SEC’s appeal could have contributed to the price fluctuations.

A price chart of XRP/USD from TradingView, showing hourly movements on November 25, 2024, with a closing price of $1.45705, a high of $1.46514, and a low of $1.45445.
XRP Price Chart – November 25. Source: TradingView

The outcome of Ripple’s legal case could affect XRP’s ability to surpass $1.50 and approach the May 2021 high of $1.81. If the SEC continues its legal approach, XRP could face pressure and move closer to $1.

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