The US Securities and Exchange Commission held a discussion session on cryptocurrencies on Friday, April 25, in the first public speech by Chairperson Atkins since taking office. Her speech garnered significant attention in the market, especially in light of the agency's recent retreat from its regulatory framework through enforcement.
🏆 SEC vs. Ripple: Ongoing legal stalemate
Despite the regulatory shift, the US Securities and Exchange Commission has remained silent on the Ripple case, leaving Ripple in a neutral position. On April 10, the SEC and Ripple jointly filed a request to pause the appeal challenging the ruling on the sales of Ripple's cryptocurrency, citing a settlement agreement.
Investors are now awaiting the next legal move from the SEC: a potential request from Judge Analisa Torres to overturn her court order prohibiting institutional Ripple sales and to reduce Ripple's penalty.
Judge Torres's decision regarding the settlement could be crucial. If Judge Torres denies the request, Ripple may continue its mutual appeal, forcing the SEC to proceed with its appeal.
Key price-driving factors are expected to include a potential settlement between Ripple and the SEC, increasing optimism regarding the XRP spot exchange-traded fund, and broader macroeconomic factors such as Federal Reserve policy and trade developments between the US and China.