Ripple Case Takes a New Turn
The Ripple vs. SEC lawsuit just got more complicated. The Office of Inspector General (OIG) is investigating potential conflicts of interest within the SEC. This probe could tip the scales in Ripple’s favor. Former SEC Chair Gary Gensler reportedly withheld key findings before stepping down in January. Now, with Acting Chair Mark Uyeda and Commissioner Hester Peirce staying silent, speculation is growing.
If the OIG uncovers conflicts, Ripple may see the SEC withdraw its appeal. That move could send XRP prices soaring.
Why the OIG Probe Matters
Empower Oversight, a watchdog group, reported that Bill Hinman, former SEC Director, may have had a conflict of interest. Hinman received millions from his old law firm, Simpson Thacher, while shaping crypto regulations. This firm has ties to the Ethereum network, raising questions about bias against Ripple.
Court documents show Hinman met with Simpson Thacher employees despite ethics warnings. The SEC’s failed attempts to shield related documents only fueled the controversy. If the OIG confirms these conflicts, Ripple’s case could gain significant momentum.
XRP Price Outlook: What’s Next?
XRP closed at $2.5765 on February 23, dipping slightly by 0.01%. It remains below its January high of $3.3999 and the 2018 peak of $3.5505. However, major developments could shift this trend.
- SEC Appeal Withdrawal: Could push XRP past its all-time high of $3.5505.
- XRP-Spot ETF Approval: Institutional investments might drive prices toward $5.
The coming weeks are crucial for XRP traders and investors alike.
Bitcoin’s Price Stalls Amid Reserve Talks
While XRP faces legal uncertainty, Bitcoin (BTC) hovers below $100K. Montana rejected a bill for a state-level Bitcoin reserve, citing taxpayer risk. In contrast, Utah has made significant progress on similar legislation.
If a national Strategic Bitcoin Reserve (SBR) emerges, BTC could surge past its $109,312 record. But rising tariffs and a hawkish Fed could pull it down toward $90,000.
What to Watch Moving Forward
- SEC’s Ripple Appeal Decision
- US Bitcoin Reserve Proposals
- Federal Reserve Rate Path
- BTC and XRP ETF Developments
Regulatory decisions will play a massive role in shaping the crypto market. Will the SEC back down? Can Ripple capitalize on the investigation’s findings? Crypto investors should stay alert for more twists in this unfolding saga.
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