The XRP community has been abuzz with speculation following a comment by Anthony Scaramucci, former White House Director of Communications, hinting that the U.S. Securities and Exchange Commission (SEC) may have quietly dropped its case against Ripple. His statement has fueled optimism within the crypto space, particularly among XRP investors.
Scaramucci said the SEC may have already abandoned its legal battle with Ripple. This remark came during an interview with podcast host Scott Melker, where he discussed the SEC’s recent decisions to drop charges against crypto-related firms such as Coinbase, Gemini, and ConsenSys. He suggested that Ripple should be included in the list of firms benefiting from this shift. Although the lawsuit remains active, his comment has heightened speculation about a potential regulatory pivot.
The lawsuit, which was filed in December 2020, accused Ripple of conducting an unregistered securities offering through the sale of XRP. The case has significant implications for cryptocurrency regulation in the United States, as a ruling in favor of Ripple could set a precedent for treating digital assets. Despite the legal proceedings, some believe the SEC may drop the case quietly, allowing XRP to operate without regulatory restrictions.
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XRP Market Reacts to Speculation
Scaramucci’s comment had a notable impact on XRP’s market performance. Within 24 hours, XRP’s price rose by 2.96%, reaching $2.57. The surge in value suggests that investors are increasingly optimistic about a favorable outcome for Ripple.
According to data from CoinMarketCap, XRP’s market capitalization now stands at $149.2 billion. The 24-hour trading volume recorded a slight decline of 1.72%, totaling $6.56 billion. Despite lower trading volume, the upward price movement indicates that market sentiment remains positive.
Source: CoinMarketCap
While there has been no official confirmation from the SEC regarding the lawsuit’s status, the speculation surrounding Scaramucci’s remark continues to fuel discussions within the crypto industry. Investors and analysts are monitoring the situation closely, as any formal decision by the SEC could majorly impact Ripple’s future in the digital asset space.
The lawsuit’s outcome remains uncertain, but recent developments suggest a potential shift in regulatory priorities. Market participants await further updates, which could shape the broader crypto landscape in the coming months.
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