Super storm! Gensler resigns + Ripple wins the case, XRP is aiming for a crazy rise of $4?
After Ripple won the sealed documents in the US Securities and Exchange Commission (SEC) case, XRP is expected to rise 60% in the future
On January 11, XRP price broke through the upward trend line and the volume increased. The symmetrical triangle breakout target is determined by adding the maximum height of the pattern to the breakout point. Applying the same rule on XRP's chart can set its upside target at around $4.
Ripple has another small victory in the game with the SEC
Within a few hours after Ripple won a small victory in the ongoing legal dispute with the SEC, XRP entered the symmetrical triangle breakout stage.
On January 11, a federal judge approved an administrative motion to seal certain documents to ensure the confidentiality of sensitive information in the ongoing legal dispute.
Specifically, the judge agreed to seal records containing confidential, sensitive and personally identifiable information related to Ripple's summary judgment motion.
The ruling comes as the SEC has until Jan. 15 to file opening briefs on its appeal challenging key decisions in the Ripple case.
In its October notice of appeal, the SEC revealed plans to challenge the summary judgment, including Judge Analisa Torres’ ruling that routine sales of XRP do not meet the criteria of the Howey test. The appeal has fueled XRP’s price volatility since July 2023.
Despite the leadership changes with SEC Chairman Gary Gensler (who will leave on January 20 and former Commissioner Paul Atkins is expected to take over), the agency seems determined to continue appeals.
In December 2024, Gensler promoted senior crypto enforcement lawyers, possibly to ensure continuity in the case.
However, legal experts expect Atkins to reverse the SEC's positive stance on cryptocurrencies, sparking cautious optimism among investors.
John Reed Stark, former head of the SEC's Office of Internet Enforcement, said after Trump's November election victory: "Paul supports free markets and hates excessive regulation - this should be a good thing for the cryptocurrency space.
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