Renowned journalist Charles Gasparino, a long-time XRP skeptic, has recently shifted his stance on Ripple’s native crypto. The potential game-changing political shift in the U.S. government following Donald Trump’s victory in the presidential elections this month has caught Gasparino’s attention.
Gasparino took to social media to express his newfound optimism about XRP, citing insights from former CFTC Chairman Chris Giancarlo. According to Gasparino, Giancarlo believes that the new SEC under a Trump administration may drop the appeal of the part of the Ripple case it lost. This speculation has sparked discussions about the future of XRP in light of the changing regulatory landscape.
The timing of Trump’s potential inauguration coincides with the resignation of SEC Chair Gary Gensler and anti-crypto SEC Commissioner Jaime Lizárraga. With pro-crypto commissioners like Hester Peirce and Mark Uyeda retaining their positions, a shift in the SEC’s approach to crypto regulation seems imminent.
Despite his positive outlook on XRP, Gasparino made it clear that he does not own the asset, emphasizing his commitment to journalistic ethics. When asked about the potential for XRP to bring wealth, Gasparino cautiously responded with a “maybe,” acknowledging the volatile nature of the crypto market.
In the legal arena, Ripple Labs has secured recent victories against the SEC, strengthening its position in the ongoing lawsuit. Judge Phyllis Hamilton’s approval of a joint motion for judgment and the stay of the lawsuit signal progress for Ripple, XRP II LLC, and Brad Garlinghouse. The upcoming trial date on January 21, 2025, holds promise for resolving outstanding issues and moving towards a resolution.
XRP’s market performance reflects growing investor confidence, with the cryptocurrency surging 200% to a year-to-date high of $1.62. This resilience in the face of legal challenges underscores XRP’s potential for growth in favorable conditions.
Gasparino’s suggestion of a possible drop in the SEC’s appeal aligns with the optimism among XRP supporters. A restructured SEC under a Trump administration could create a more favorable regulatory environment for cryptocurrencies, potentially boosting XRP’s prospects in the market.
As Ripple’s legal battles unfold and the political landscape evolves, the future of XRP and the broader crypto market hangs in the balance. Analysts anticipate a potential price surge for XRP, with projections reaching as high as $8 or even $10 if bullish momentum continues.
Stay tuned for updates on Ripple’s legal developments and the impact of political changes on the crypto market as we navigate through this transformative period.