Ripples’s CLO now ignites optimism regarding XRP following a widely shared victory announcement highlighting their legal triumphs over the SEC.
Ripple’s Chief Legal Officer, Stuart Alderoty, has sparked renewed optimism in the cryptocurrency community with a post on X, highlighting the company’s recent legal victories against the U.S. Securities and Exchange Commission (SEC).
In his message, Alderoty celebrated Ripple’s resilience and the steadfast support from the XRP community, crediting their legal strategy for navigating the complex challenges posed by the SEC.
He remarked on Ripple’s ability to stand firm against what he termed SEC Chair Gary Gensler’s “inexplicable war on crypto,”.
Emphasizing the significance of their victories for the broader cryptocurrency landscape.
Since 2020, Ripple has been embroiled in a legal battle with the SEC, which accused the company of conducting an unregistered securities offering with XRP.
Ripple has consistently denied these claims, asserting that XRP should not be classified as a security.
The company has achieved several important court victories, strengthening its position and rallying support within the crypto community.
Alderoty’s comments come at a pivotal moment, as Gensler has announced plans to step down, paving the way for a new SEC chair under the incoming administration of President-elect Donald Trump.
Speculation suggests that this new chair may be more favorable toward digital assets, potentially leading to the dismissal of ongoing lawsuits, including Ripple’s.
The positive sentiment surrounding these developments is reflected in XRP’s performance, with the token recently hitting a multi-year high of $1.62 and currently trading at $1.41, marking a 35% increase in just a week.
With the possibility of clearer regulatory guidance ahead, Alderoty expressed gratitude for the XRP community’s unwavering support, suggesting that Ripple, XRP, and its supporters are entering a promising new phase.
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