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Until this Wednesday the SEC has time to adjudicate an appeal in the case against Ripple.
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Users say that even if the SEC continues with its appeal, there will not be much impact on XRP.
Ripple’s cryptocurrency, The XRP community is celebrating this milestone, believing that the asset could reach $4 this year.
As NoticiasVE reported earlier, XRP touched price levels not seen since 2018 and approached 10% of its all-time high of $3.31. XRP’s skyrocketing rise above $3 sparked a series of reactions among followers of cryptocurrency.
On Reddit, user homunduruk, who says he has held XRP for three years, expressed that “the years of agony made us resilient.” This, remembering the ups and downs that this crypto asset suffered as a result of the litigation with the Securities and Exchange Commission (SEC).
Another user, Zachjsrf, commented: “Remember when we thought $2 was crazy? After breaking $3, it is only a matter of time before we reach $4 and then double digits, where we will advance by increments of dollars instead of cents.”
The rise in the price of XRP occurs in the context of several factors, including regulatory developments associated with the arrival of Donald Trump to the US presidency and the imminent end of the administration of Gary Gensler at the SEC, who will resign January 20, as reported by NoticiasVE.
For María Fernanda Juppet, CEO of the Chilean exchange CryptoMKT, the recent increase in the price of XRP “is a reflection of the market’s optimism in the face of significant changes in the US regulatory landscape.”
The executive told NoticiasVE that Gary Gensler’s departure from the SEC “marks the end of a period of high uncertainty for cryptocurrencies, particularly for projects like XRP, which were at the center of legal disputes.”
SEC must file documents
On the other hand, the increase in the price of XRP occurs before the deadline for the SEC submit a written justification on the appeal of the district court’s decision to impose a fine of $125 million on Ripple, and not $2 billion, as the SEC initially requested.
There are users who assume that the SEC will file the document this Wednesday. Deep_Kaleidoscope601 assures that “it is almost certain that they will present it.” “It’s obvious, I would be very surprised if they didn’t do it, it’s a logical step and it almost always happens after the appeal,” he said.
Although for DaddyWolfsLap, whether or not the SEC files the brief, “isn’t really that important,” because if they appeal, “it will just be an insignificant move.” “We would literally be in the same place we are now,” he said.
Amid fears that XRP will decline in price if the SEC decides to pursue the court case, even with Gensler’s term ending in 5 daysthis user rejects the possibility of a traditional price drop, stating: “we may not see XRP quotes below $2.75 again.”
“Those who sell by chance will earn a few more coins, although they may end up losing some this time,” he said. “That’s what I think, but to each their own,” he said.
The XRP community, after years of legal challenges and market fluctuations, appears more united and optimistic than ever, with many looking toward the future. where XRP could further consolidate itself in the cryptocurrency market.
It will be from the entry of the new Trump administration and new leadership in the SEC that it will be seen if there will really be an opening towards the ecosystem. There has already been some light on this, with commissioners Hester Peirce and Mark Uyeda preparing to review the regulatory policies imposed by Gensler on the sector, as well as the litigation currently active against cryptocurrency companies, all with the possibility of freezing them.