XRP News Today Highlights Calls for SEC Chair Gensler's Resignation, Sparking Hope for Regulatory Relief for Ripple

Ripple Crypto reports growing optimism for XRP, with prices nearing key resistance at $0.70.

The XRP lawsuit, filed by the SEC in December 2020, has been closely followed by the crypto community. The case centers around the SEC’s allegation that XRP is an unregistered security, a claim that Ripple has contested.

Throughout the lawsuit, Ripple has maintained that XRP is not a security and that the SEC’s overreach in defining digital assets as securities could stifle innovation in the crypto industry.

On the other hand, the SEC has argued that XRP fits the definition of an investment contract, and that Ripple’s failure to register XRP with the SEC has deprived investors of crucial information and protection.

Now, as the XRP lawsuit nears its conclusion, with both parties set to present their closing arguments on November 21, analysts are speculating on a possible resolution or even dismissal of the case.

The outcome of the Ripple vs. SEC lawsuit is highly anticipated, as it could have major implications for the crypto industry at large. A victory for Ripple could provide clarity on the regulatory status of XRP and other cryptocurrencies, potentially boosting market sentiment and driving up XRP’s price.

However, a loss for Ripple could subject XRP to securities laws, which could limit its use cases and harm its long-term prospects.

Recently, Ripple CEO Brad Garlinghouse shared a “100-day checklist” outlining his hopes for the incoming Biden administration, which includes the firing of SEC Chair Gary Gensler.

Garlinghouse’s checklist also calls for a fresh approach to crypto regulation, highlighting the need for clarity and collaboration.

With Donald Trump’s pro-crypto stance and the possibility of a more crypto-friendly SEC Chair, there is growing optimism for XRP, especially considering its price is nearing a key resistance level at $0.70.

However, it remains to be seen how regulatory changes and the conclusion of the XRP lawsuit will ultimately impact XRP’s price trajectory.

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