Renowned journalist Charles Gasparino, a long-time XRP skeptic, has recently shifted his stance on the Ripple’s native crypto. He cited a potential game-changing political shift in the U.S. government as Donald Trump won the presidential elections this month.
Will SEC Discard Ripple Lawsuit Appeal?
Gasparino shared on X (formerly Twitter), “The game changer for XRP IMHO is Donald Trump being elected prez. As Chris Giancarlo told me on Fox Business earlier in the week, he believes new SEC will drop the appeal of the part of the Ripple case it lost. My view is that’s very plausible.”
Gasparino’s comments come amidst significant developments in Ripple Labs’ legal battles and broader changes within the U.S. Securities and Exchange Commission (SEC). Notably, SEC Chair Gary Gensler is set to resign on January 20, 2025, coinciding with Trump’s potential inauguration. Anti-crypto SEC Commissioner Jaime Lizárraga, who aligns with Gensler’s regulatory stance, has also announced plans to step down.
The game changer for $XRP IMHO is @realDonaldTrump being elected prez. As @giancarloMKTS told me on @FoxBusiness earlier in the week, he believes new @SECGov will drop the appeal of the part of the @Ripple case it lost. My view is that’s very plausible https://t.co/YpvdOyZjDC
— Charles Gasparino (@CGasparino) November 28, 2024
Meanwhile, pro-crypto commissioners Hester Peirce and Mark Uyeda will retain their positions. This indeed signals a shift in the SEC’s approach to crypto regulation.
However, despite his bullish outlook on XRP, Gasparino maintains that he does not own the asset, emphasizing journalistic ethics. “I don’t own stuff I write about,” he clarified. When asked by an XRP supporter whether the crypto could make them “rich,” he replied with cautious optimism: “Maybe.”
What’s Next in XRP SEC Lawsuit?
Ripple Labs has seen recent legal victories, strengthening its position against the SEC. Judge Phyllis Hamilton recently approved a joint motion for judgment, staying the lawsuit and reaffirming the court’s previous decision favoring Ripple, XRP II LLC, and Brad Garlinghouse. The judge also encouraged the parties involved to consider alternative resolutions for outstanding claims.
A trial date for unresolved issues is set for January 21, 2025, though pretrial deadlines have been dismissed until the appeals process concludes. The ongoing class-action lawsuit, which centers on alleged financial losses by XRP holders, appears to be heading toward a resolution.
XRP’s market performance reflects growing investor confidence. The cryptocurrency surged 200% to reach a year-to-date high of $1.62, underscoring its resilience amidst legal challenges.
Gasparino’s suggestion that the SEC might drop its appeal against Ripple aligns with a broader sentiment of optimism among XRP supporters. If Trump returns to office, a restructured SEC could pave the way for a more favorable regulatory environment for cryptocurrencies.
For now, all eyes remain on Ripple’s ongoing legal battles and the evolving political landscape. Both of these factors could shape the future of XRP and the broader crypto market. In favorable conditions, analysts expect the XRP price to reach $8, potentially even $10 of the bullish momentum persists.
