A leadership change at the U.S. Securities and Exchange Commission (SEC) has reignited discussions about the fate of the ongoing lawsuit with Ripple
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2. Newly sworn-in SEC Chairman Paul Atkins, who took office on April 21, is being closely monitored by cryptocurrency enthusiasts eager to see how his leadership will influence regulatory direction. The SEC is set to hold a closed meeting on April 24, raising speculation that a final decision regarding the SEC-Ripple lawsuit may be announced. Despite earlier claims of the case’s resolution, it still remains without a formal legal conclusion.
Expectations for a Quick Resolution to the SEC Meeting and Ripple Case
Ripple’s CEO, Brad Garlinghouse, previously declared in March that “the lawsuit is over,” yet the SEC-Ripple case continues through the judicial process. Although the price of XRP spiked to $2.55 following this statement, it has since declined by 17.64% to $2.10. With only a meager rise of 0.83% since the start of the year, XRP has found solid support at the $2 level, but to surpass the critical resistance at $2.20, the market needs new and robust momentum.
SEC and Ripple – XRP Coin
Due to the closed nature of the SEC’s meeting on April 24, there is little information regarding the agenda items. Thus, it remains uncertain whether the situation concerning Ripple and XRP will be addressed during this meeting. Former SEC attorney James Farell expressed on social media that the case could reach a conclusion as early as October, but no later than January 2027. Farell dismissed claims that Atkins’ leadership would expedite the process, citing that decisions made under previous administrations were already sufficient to maintain speed.
Technical Indicators and Market Conditions May Support XRP Price
Opinions suggest that XRP’s price might gain momentum independently of the Ripple-SEC lawsuit in the short term. Cryptocurrency analyst Ali Martinez noted the Bollinger Bands’ contraction, indicating that a significant price movement could occur soon. This technical signal hints at potential increased volatility for the altcoin, suggesting an upward price direction. Moreover, despite recent sharp sell-offs in traditional financial markets, $60 billion has flowed into the cryptocurrency market. This shift indicates that investors are moving towards cryptocurrencies while distancing themselves from more volatile assets. Although this influx has yet to create a strong effect on XRP, if overall market sentiment improves, a rise in cryptocurrencies, including XRP, remains a possibility.
