The appointment of Paul Atkins as SEC Chairman raises hopes among Ripple supporters for a favorable resolution in their case against the SEC. Known for his pro-crypto stance, Atkins might influence the ongoing proceedings.
The New Chairman and His Potential Impact
Paul Atkins’ upcoming appointment could significantly influence the outcome of the Ripple-SEC case. Known for his pro-crypto stance, Atkins was nominated by former President Donald Trump. His confirmation hearing is set for March 27, and if confirmed, his leadership might bring a more favorable outlook for XRP. Atkins has previously criticized the SEC for lacking a clear regulatory framework, which he believes led to the FTX crisis.
A Resolution in Sight?
American attorney Fred Rispoli has expressed that a settlement between Ripple and the SEC might be reached before April 16, the appellate brief’s filing date. Journalist Eleanor Terrett also mentioned insider information suggesting the lawsuit is nearing its end, though Judge Torres’ finding of Ripple’s federal securities law violations still stands.
Uncertainty Weighs Down XRP
The uncertainty surrounding the Ripple-SEC case is negatively impacting XRP's price. Lawyer Bill Morgan noted that the ongoing situation exerts downward pressure on the token. Currently, XRP’s price is down 33% from the local high reached in January.
XRP advocates hope that Paul Atkins’ appointment and a potential resolution might bolster Ripple’s stance and strengthen the cryptocurrency’s market position.
