XRP Poised for New Highs if XRP vs SEC Follows Coinbase Case Precedent
The crypto community is excited that the XRP case might be dropped by SEC next after Coinbase, which will likely propel XRP to new record highs above $3.40.
The recent decision by the U.S. Securities and Exchange Commission (SEC) to drop its lawsuit against Coinbase has sparked optimism across the cryptocurrency market. This unexpected shift has fueled speculation that the ongoing Ripple vs. SEC case could follow a similar path, potentially paving the way for XRP to surge to new record highs.
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Coinbase Victory Shifts the Regulatory Landscape
The SECβs decision to abandon its case against Coinbase was celebrated as a major win for the U.S. cryptocurrency industry. Coinbase CEO Brian Armstrong emphasized that this outcome was crucial in protecting the future of crypto in America, warning that an SEC victory would have driven businesses overseas and stifled innovation.
Armstrong also linked the regulatory shift to increased scrutiny on the SEC following the Trump administrationβs election victory, suggesting that political pressure may have influenced the regulatorβs retreat.
This reversal has created a ripple effect across the crypto space, particularly for XRP holders, who are now more hopeful that the SECβs case against Ripple, currently in the appeals stage, could also be dismissed.
Growing Signs of Regulatory Softening
Recent moves by the SEC indicate a less aggressive stance toward crypto enforcement:
- Several enforcement βcrypto-pausesβ in recent days.
- Two delayed crypto appeals.
- Closure of its investigation into OpenSea.
These developments suggest the SEC is reconsidering its approach to digital assets, increasing optimism for Rippleβs legal battle.
XRP Price Outlook: A Breakout on the Horizon?
Crypto analyst Jeremy Hogan, a prominent XRP advocate, predicts a possible settlement by May the latest. If the SEC withdraws or settles the case, it would remove a significant legal barrier for XRP, allowing for a bullish breakout.
Β RIPPLE has been trading in a range between 2 MAs on the daily chart below $3, with the 100 SMA (green) acting as support and the 50 SMA (yellow) as resistance. A favorable resolution could trigger a strong rally in the XRP/USD market, potentially pushing prices above $3 and toward the all-time high of $3.3940. With regulatory uncertainty easing and investor sentiment improving, XRP could be on the verge of a historic price surge.
Ripple XRP Live Chart
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