Paul Atkins was recently sworn in as the new chairman of the Securities and Exchange Commission (SEC) on Tuesday, April 21. With his new role, many are speculating that the ongoing Ripple v. SEC case may finally come to a conclusion. The SEC is set to hold a closed meeting on Thursday, April 24, leading to further speculation about the case.
Despite Ripple Labs CEO Brad Garlinghouse’s announcement on March 19 that the case was resolved, a binding legal resolution is yet to be reached. This uncertainty has impacted XRP’s price, with a 17.64% decrease from its post-announcement high of $2.55 to $2.10 at present, resulting in year-to-date gains of 0.83%.
XRP has found support at $2, but without a bullish catalyst, breaking above the $2.20 resistance level seems unlikely. The upcoming SEC meeting may provide insight into whether such a catalyst is on the horizon.
Ripple v. SEC Case and the Role of Chairman Atkins
While hopes are high for a quick resolution to the Ripple v. SEC case under Atkins’ leadership, the chances of a conclusive end this week are slim. The closed meeting may not even address the XRP issue, focusing instead on administrative matters related to Atkins’ new position.
James Farrell, a former SEC lawyer, has outlined a potential timeline for the case’s resolution, projecting a best-case scenario of October 2025 and a worst-case scenario of January 2027. He also refuted claims that Atkins’ appointment would expedite the process, pointing out that previous dismissals were approved under different leadership and suggesting that regulatory readiness, not leadership changes, may be the primary factor delaying the case.
Despite the uncertainties surrounding the Ripple v. SEC case, other factors could influence XRP’s price movement. Chart analyst Ali Martinez predicts a significant price shift due to a Bollinger Band squeeze, with a likely upward movement given the current bullish sentiment in the cryptocurrency market following a $60 billion inflow amid a recent stock market downturn.
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