- XRP’s price surged 8% today, outperforming Bitcoin and Ethereum, driven by broader market momentum and anticipation of the SEC appeal deadline.
- Ripple faces a key legal moment as the SEC must file its appeals brief by tomorrow or risk losing its case against Ripple and XRP.
- With pro-crypto Paul Atkins set to replace Gary Gensler as SEC chair, Ripple’s regulatory outlook could become more favorable in the long term.
XRP, the cryptocurrency tied to Ripple Labs, is seeing strong gains in trading today. As of 5:30 p.m. ET, XRP’s token price is up 8%, outperforming Bitcoin and Ethereum, which are up 4.5% and 6.2%, respectively.
This surge comes not only from broader bullish sentiment in the crypto market but also due to anticipation surrounding a key legal deadline for Ripple’s battle with the SEC. If the SEC doesn’t file an appeal by tomorrow, XRP could gain even more momentum.
Ripple’s Legal Battle with the SEC
Back in 2020, the SEC filed a lawsuit against Ripple Labs, claiming XRP was sold as an unregistered security. While the SEC sought a hefty $2 billion fine, the 2023 ruling settled on Ripple paying a significantly lower $125 million penalty.
Now, the SEC faces a critical deadline to file its appeals brief by tomorrow. So far, the filing hasn’t been submitted, and this uncertainty has sparked optimism among investors, pushing XRP’s price higher.
What’s Next for XRP?
The SEC’s appeal deadline is likely to act as a short-term catalyst for XRP’s price. If the brief isn’t filed, it could signal a major victory for Ripple and further boost investor confidence.
Looking ahead, changes in SEC leadership could also shape the case’s trajectory. With Gary Gensler stepping down and Paul Atkins, a Trump appointee seen as pro-crypto, set to take over, Ripple’s chances of escaping further regulatory scrutiny seem higher.
However, there’s still a good chance the SEC will submit its brief tomorrow, only to drop the case later under new leadership. Regardless of the immediate outcome, the long-term outlook for Ripple and XRP appears favorable, making the token a focal point in the crypto space right now.
