SEC to Drop Ripple XRP Lawsuit: Ex-Regulator Predicts Crypto-Friendly Shift
A former chair of the Commodity Futures Trading Commission (CFTC) has made a bold prediction about the ongoing legal battle between the Securities and Exchange Commission (SEC) and Ripple. According to the former chair, there is a high possibility that the SEC will drop its lawsuit against Ripple in the near future. This prediction has sparked excitement among XRP investors, with many believing that a favorable outcome for Ripple could lead to a significant rally for the cryptocurrency.
The SEC filed a lawsuit against Ripple Labs, its co-founder Chris Larsen, and CEO Brad Garlinghouse in December 2020, alleging that they had conducted an unregistered securities offering worth $1.3 billion. Both Ripple and its executives have denied the allegations, arguing that XRP should not be classified as a security.
The former CFTC chair’s prediction is based on his belief that the regulatory environment in the United States is shifting, with agencies like the SEC becoming more open to cryptocurrencies and blockchain technology. He suggests that dropping the lawsuit against Ripple could be a strategic move by the SEC to signal this shift in regulatory stance.
While the outcome of the lawsuit remains uncertain, XRP investors are hopeful that a resolution in favor of Ripple could lead to a surge in the price of the cryptocurrency. However, it is important to note that investing in cryptocurrencies carries inherent risks, and prices can be highly volatile.
As always, it’s essential for investors to conduct thorough research and consider their risk tolerance before making any investment decisions. Keeping a close eye on regulatory developments and staying informed about the latest news in the cryptocurrency space can help investors make more informed decisions about their investments.
