Is This the End of the SEC’s Hold on Ripple? Pro-Crypto Congress Could Change Everything!
Vijay Gir6 Nov 20242 min read
Ripple CEO Brad Garlinghouse has shared his excitement over the victories of pro-crypto candidates in the recent U.S. elections. On his X account, he highlighted data from Stand with Crypto, stating that “the crypto voter has spoken decisively.” But what does this shift in political power mean for the crypto industry, and how could it affect the ongoing SEC vs. Ripple lawsuit?
A Big Win for Crypto Advocates
This election season marked a significant win for crypto supporters. Garlinghouse cheered for candidates like Bernie Moreno, Ritchie Torres, and Kirsten Gillibrand, all of whom have been vocal about crypto issues. Their victories bring hope for more balanced and supportive regulations for the industry.
Although the crypto community faced some setbacks—like John Deaton’s loss to Senator Elizabeth Warren—the overall mood remains positive. Many are hopeful that the new Congress will push for clearer regulations that benefit the crypto market. With Trump’s long-standing promises to address crypto concerns, the next steps will show if the administration will follow through.
Ripple vs. SEC: Could This Be a Turning Point?
The ongoing lawsuit between Ripple and the SEC has been a major challenge, not just for Ripple but for the entire crypto sector. Garlinghouse’s comments suggest that the new Congress could bring the regulatory clarity that Ripple has been waiting for. Trump, who has discussed replacing SEC Chair Gary Gensler, may play a key role in changing the regulatory environment. A leadership shift at the SEC could potentially impact Ripple’s legal battle in a positive way.
Is the SEC Now Weaker?
Coinbase’s Chief Legal Officer, Paul Grewal, also hinted that the SEC’s influence might lessen if pro-crypto leaders take action. With Congress now more open to discussing crypto, Ripple’s case could receive the attention it needs. Garlinghouse expressed hope that the SEC understands why this political shift is happening—voters wanted change, and they’re getting it.
What’s Next for Ripple and XRP?
As institutional interest in XRP continues to grow, Garlinghouse’s hope for a future XRP exchange-traded fund (ETF) may be closer than ever. Ripple’s performance on the market is stable, with a recent 3% gain and current trading at $0.528. Experts predict that this momentum could push XRP prices higher, with some optimistic estimates even reaching $1.10.
For now, Ripple’s legal battle continues, with the SEC set to file its opening brief by January 2025. However, with pro-crypto leaders in Congress, the crypto community hopes to see clearer regulations in the near future.
This shift could pave the way for a more favorable outcome for Ripple and other crypto projects, marking a new chapter for the industry.
With a renewed sense of hope, the crypto community eagerly awaits the positive impact of these pro-crypto policies. Stay tuned to Coinpedia for more updates.
