Yerevan (CoinChapter.com) – Ripple Chief Legal Officer Stuart Alderotti announced a notable victory in the legal battle against Securities and Exchange Commission (SEC) Chairman Gary Gensler on November 23. He thanked Ripple leaders Brad Garlinghouse and Chris Larson, as well as the legal team for their contributions in the long-running legal battle.

Aldrotti commented:
SEC Appeal Could Change XRP Market Dynamics
The SEC’s appeal is crucial to XRP’s market trends. The agency must file its opening brief by January 15, which coincides with the expected departure date of SEC Chairman Gary Gensler. Market observers recall that former SEC Chairman Jay Clayton filed a lawsuit against Ripple on his last working day.

There has been much speculation about Gensler’s next move. A pro-cryptocurrency SEC chairman, likely appointed under the Trump administration, could reconsider the appeal. If the appeal is withdrawn, Ripple’s win could set a precedent for cryptocurrency regulation, particularly with regard to programmatic sales of XRP.

Pro-cryptocurrency attorney Bill Morgan spoke about the possibility of withdrawing the appeal under the new SEC. He said:

“I really don’t see how any new SEC Chairman appointed by Trump would be able to continue the enforcement case against Ripple and the exchanges. The Ripple case is easily over. Drop the appeal and accept the $1.25 million fine.”

If the SEC abandons its appeal, the decision could affect cases involving Coinbase (COIN) and Binance, thereby easing regulatory pressure on the crypto market. It could also promote the establishment of a regulatory framework that emphasizes both innovation and investor protection.

XRP price volatility reflects market uncertainty
On November 25, XRP fell slightly by 0.14% and closed at $1.45705. The price action on the day followed a similar trend, reaching a high of $1.46514 and a low of $1.45445. The lack of progress on the SEC appeal may have led to the price fluctuations.

The outcome of Ripple’s legal case could impact XRP’s ability to break above $1.50 and approach its May 2021 high of $1.81. If the SEC continues its legal maneuvers, XRP could come under pressure and move closer to $1.