SEC vs. Ripple: Lawsuit Removal Sparks Hope
The US Securities and Exchange Commission (SEC) removed references to its lawsuit against Ripple from its website, sparking speculation across the crypto market that the case may be dismissed.
Lawsuit Case Deleted From SEC Website
As of Tuesday, the SEC’s official website no longer lists information about the high-profile Ripple civil lawsuit.
The SEC’s website no longer contains information about the Ripple lawsuit. Source: SEC
This occurred after the SEC removed Ripple-related civil actions from its website as the lawsuit moved to the Second Circuit Court of Appeals, a key stage in the ongoing legal battle over XRP’s classification.
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On January 23, 2025, Ripple asked for more time, setting a deadline of April 16, to respond to the SEC’s January 15 filing .
The SEC is appealing parts of a previous court ruling, which said XRP isn’t a security, but Ripple’s direct sales to institutions were.
The SEC vs. Ripple lawsuit has been a focal point in the crypto space for four years, with settlement rumors sparking a 400% surge in XRP’s price since November’s US presidential election.
Investors had speculated that the case might be dismissed with the change in administration and the SEC chairmanship.
XRP Community Excited
The crypto community was taken by surprise when references to the Ripple lawsuit were no longer found on the SEC’s website, sparking curiosity about the status of the case.
“Something big could be brewing,” stated crypto trader and analyst @kyledoops, hinting at Ripple CEO Brad Garlinghouse’s discussions with President Donald Trump about designating XRP as a strategic reserve asset for the US.
There is growing speculation in the crypto market that once the SEC vs Ripple case is officially resolved, Bank of America may shift its transactions to the Ripple blockchain.
This move could propel the XRP market cap to over $2 trillion with global adoption.
XRP price reacted positively to the news, jumping over 16% to $3.19 on Tuesday before correcting. XRP fluctuates around $3.08 at the time of writing, according to CoinMarketCap data .
On The Flipside
- Bitcoiners criticize Ripple (XRP) for its centralization, pointing to Ripple’s control over a significant portion of the token supply, with the prospect of XRP being included in US strategic reserves highlighting further centralization.
Check out DailyCoin’s trending crypto news:
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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