XRP momentarily broke the $3 barrier today, a matic return not seen since early 2018. Although it quickly returned to $2.97. Crypto, often at the center of legal and regulatory drama, surged more than 31% in just the first two weeks of the year.
XRP trading volume exploded, climbing 141% in a single day as traders and investors flocked. Analysts have linked the increase to growing optimism about Ripple and the SEC and murmurs of regulatory clarity under the new Trump administration.
Ripple vs. SEC heats up
The SEC denied Ripple’s request to delay the deadline to file its appeal, leaving Ripple’s legal team, led by CEO Brad Garlinghouse and General Counsel Stuart Alderoty, to speak out against the regulator’s harsh tactics.
Alderoty expressed his frustrations on accusing him of selling XRP as an unregistered security.
In 2023, Ripple won a partial victory when a judge ruled that XRP sales to retail investors did not violate securities laws. However, the court found that institutional sales were a different story.
Now, as Gary Gensler prepares to leave office, he appears determined to fire one last shot at Ripple, refusing to budge from his stance that XRP is a security.
“Bitcoin is not a security,” reiterated in a recent interview. But he made it clear that he believed most other tokens, including XRP, were operating in a speculative market that didn’t play by the rules.
With a crypto-friendly administration poised to take over in Washington, optimism for regulatory changes is high. Ripple’s legal troubles may not be over, but the momentum is undeniable.
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