XRP News Today: Can SEC Shifts Fuel XRP-Spot ETF Hopes and Rally Prices?

XRP Hovers Below $2.20 as Investors Await Catalysts: What’s Next?

On Saturday, December 28, XRP advanced by 1.75%, reversing Friday’s 0.42% loss to close at $2.1822. The broader crypto market gained 1.56%, taking the total market cap to $3.260 trillion.

This article explores the influence of SEC developments, regulatory shifts, and XRP-spot ETFs on price trends.

SEC vs. Ripple: Appeal Speculation and Market Impact

The SEC vs. Ripple case and the agency’s plans to challenge the Programmatic sales ruling remain crucial focal points. On Friday, Amicus Curiae attorney John E. Deaton shared comments from Fox Business Senior Correspondent Charles Gasparino, saying,

“Hate him or love him, it is a fact, early on, Charles Gasparino, with the help of Eleanor Terrett, was the only mainstream journalist who reported on the regulatory overreach by the SEC in the Ripple case.”

Gasparino remarked on the Ripple case, saying,

“I always thought the regulation of Ripple was just needless. Think about it. They were going after Ripple and XRP while Sam Bankman-Fried was going nuts, essentially ripping people off. So, I always felt that was regulatory overreach. I always felt there is a need for a safe harbor. Ripple does have an underlying technology. We essentially forced it overseas, I believe, because it’s in regulatory never-never land, still to this day. The SEC is appealing the case.”

Gasparino also discussed the court rulings, saying the Judge set a precedent that retail requires less disclosure. Considering potential scenarios, Gasparino said the SEC could overturn the Programmatic Sales of XRP ruling or drop the appeal with Trump as President.

His comments underscore the uncertainty about the SEC’s plans and whether the Programmatic Sales of XRP ruling will stand. This uncertainty contributed to XRP’s retreat from the December 3 high of $2.9070.

The SEC must file its appeal-related opening brief by January 15, days before Chair Gary Gensler steps down and Trump’s inauguration.

Shifting Regulatory Landscape: A Ray of Hope?

Amid the ongoing uncertainty, the SEC’s overhaul has fueled investor optimism that the agency will eventually withdraw its appeal.

Democratic Commissioner Caroline Crenshaw is out, and Commissioner Jaime Lizarraga and Chair Gensler leave before Trump takes office. This paves the way for incoming SEC Chair Paul Atkins to reverse course on the SEC’s crypto-enforcement efforts, potentially withdrawing the Ripple appeal.

While optimism surrounds potential regulatory changes, investors cannot discount the possibility of an adverse ruling.

XRP Price Outlook: Risks and Opportunities

XRP price trends hinge on the SEC’s intentions regarding the Ripple case. A withdrawal could open the door to an XRP-spot ETF market, potentially triggering a surge in XRP demand. This scenario could drive the token to its all-time high of $3.5505. Conversely, XRP could slide below $0.50 if the SEC files its appeal and successfully overturns the Programmatic Sales ruling.

If the US appellate court overturns the ruling, XRP would fall under the SEC’s regulatory reach, potentially resulting in exchanges delisting the token. Historical trends underscore the risks, as XRP briefly fell below $0.20 following the SEC’s 2020 lawsuit.

XRP Price Action

Daily Chart

Despite XRP’s retreat from the December 3 high, it sits well above the 50-day and 200-day EMAs, sending bullish price signals.

A break above $2.50 could signal a return to the December 3 high of $2.9070. Furthermore, a breakout from $2.9070 may bring the $3 level into play, potentially supporting a run to it’s January 2018’s all-time high of $3.5505.

SEC-related activity and Ripple case-related news require consideration.

Conversely, a drop below $2 could enable the bears to target the $1.9299 support level. A break below the $1.9299 support level may signal a fall toward the $1.3461 support level. Speculation over the SEC’s appeal against Ripple rulings could trigger an XRP sell-off.

With a 14-day RSI reading of 50.99, XRP could revisit $2.9070 before entering overbought territory (RSI above 70).

Conclusion

XRP’s price outlook hinges on the SEC’s next move and broader regulatory shifts. A favorable outcome for Ripple could reignite bullish sentiment, while adverse rulings may trigger sharp declines. For deeper insights into XRP’s potential price movements, click here for our latest analysis.