In recent months, the situation around Ripple and its XRP token has gained attention due to legal proceedings with the SEC. Leadership changes in the commission could alter their outcome.
SEC Appeal and Ripple's Current Situation
Back in August, Ripple was fined $125 million, which seemed like the end of the lawsuit. However, in October, the SEC officially appealed the previous ruling on XRP, indicating their intent to continue the court battle.
Paul Atkins' Arrival at the SEC
Paul Atkins has been appointed as the new SEC Chair, replacing Gary Gensler. Atkins has previously criticized the SEC's tough approach and may change the regulatory strategy. It is expected that he will reduce 'regulation by enforcement'.
Potential Changes in SEC's Approach to the Crypto Industry
There is speculation that the SEC might start reducing or dropping some lawsuits. Amanda Tuminelli from the DeFi Education Fund suggests that a shift towards favorable settlements, known as 'consent decrees,' is likely.
If a settlement or dismissal occurs, XRP's price is likely to rise, improving market sentiment. This case is crucial for all XRP investors. Under new leadership, the SEC might soften its stance, leading to more settlements and clearer regulations.