Renowned journalist Charles Gasparino, known for his skepticism towards XRP, has recently changed his tune on Ripple’s native cryptocurrency. His shift in stance comes as a result of a potential political shift in the U.S. government following the recent presidential election won by Donald Trump.
Gasparino took to social media to express his new outlook on XRP, stating that he believes the new SEC under Trump’s administration may drop the appeal of the Ripple case it lost. This change in leadership at the SEC, with Chair Gary Gensler set to resign and anti-crypto Commissioner Jaime Lizárraga also stepping down, hints at a shift in the regulatory landscape for cryptocurrencies.
Despite his newfound optimism for XRP, Gasparino made it clear that he does not own any of the asset to maintain journalistic integrity. When asked about the potential for XRP to make investors “rich,” he cautiously responded with a “maybe.”
Ripple Labs has recently seen legal victories in its ongoing battle with the SEC. Judge Phyllis Hamilton approved a joint motion for judgment, staying the lawsuit and reaffirming previous decisions favoring Ripple, XRP II LLC, and Brad Garlinghouse. The judge encouraged the parties to explore alternative resolutions for remaining claims, with a trial date set for January 21, 2025.
XRP’s market performance has reflected growing confidence among investors, with the cryptocurrency surging 200% to a year-to-date high of $1.62 despite legal challenges. Gasparino’s belief that the SEC may drop its appeal aligns with a sense of optimism among XRP supporters, who see a potential for a more favorable regulatory environment under a restructured SEC.
As Ripple’s legal battles continue and the political landscape evolves, the future of XRP and the broader crypto market hangs in the balance. Analysts foresee the XRP price reaching $8 or even $10 if bullish momentum persists. All eyes are on the outcome of Ripple’s legal disputes and how regulatory changes may impact the cryptocurrency market.
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