Ripple’s Victory Near? SEC’s Restructuring Might End Legal Battle
More from the Author Cal Evans
Recent SEC restructuring and regulatory shifts, including the reassignment of key litigators and the formation of a new Crypto Task Force, suggest that the agency may drop its appeal against Ripple, potentially favoring XRP.
If XRP holds its technical support levels and regulatory clarity emerges, the token could see a bullish reversal, with a possible rally to $4.00.
The legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) has been a major point of contention in the crypto industry. However, recent internal changes at the SEC suggest that Ripple may be gaining the upper hand, potentially paving the way for a strong XRP comeback.
Ripple vs. SEC: A Case on the Brink of Resolution?
A major shakeup within the SEC is fueling speculation that the agency may abandon its appeal against Ripple. Under acting Chair Mark Uyeda, the SEC has been restructuring its Crypto and Cyber Unit, which previously had over 50 lawyers and staff. One of the biggest changes is the reassignment of Jorge Tenreiro, a top litigator involved in major cases against crypto firms like Ripple and Coinbase, to the IT department. Another key lawyer responsible for controversial accounting policies affecting digital asset custody was also moved.
The departure of former SEC Chair Gary Gensler, who championed an aggressive regulatory stance against crypto, has allowed Commissioner Hester Peirce to take a leading role in the agency’s new Crypto Task Force. Peirce has indicated that the task force will reassess the classification of digital assets, potentially excluding XRP from being considered a security. If this happens, it could mark the end of the SEC’s case against Ripple.
XRP’s Price Outlook: Can It Rally to $4.00?
Despite a recent 3% decline, XRP remains in focus for investors. Futures market data shows that XRP has faced $11.68 million in liquidations over the past 24 hours. However, technical indicators suggest that a strong recovery could be on the horizon.
XRP is currently trading within a descending broadening wedge pattern, a structure typically associated with bullish reversals. If XRP holds the lower support level and successfully breaks above the upper boundary, analysts predict a potential rally to $4.00. Key resistance levels to watch include $2.72, $2.95, $3.40, and $3.55.
On the downside, a failure to maintain support could push XRP to $1.35. At the moment, momentum indicators such as the Relative Strength Index (RSI), Stochastic Oscillator (Stoch), and Moving Average Convergence Divergence (MACD) remain below neutral levels, reflecting bearish sentiment. However, a shift above these levels could strengthen the case for a bullish breakout.
Conclusion: Is This XRP’s Turning Point?
With regulatory changes and internal restructuring within the SEC, Ripple appears to be on the verge of a favorable outcome. If XRP maintains critical technical levels and regulatory clarity emerges in its favor, a significant price surge could be imminent. Investors are closely watching these developments, as XRP’s future hangs in the balance.
The post Ripple’s Victory Near? SEC’s Restructuring Might End Legal Battle appeared first on Crypto News Focus.
