SEC May Have Dropped Ripple Lawsuit

• Scaramucci hints SEC may have dropped its case against Ripple (XRP).
• XRP price rises 5.39%, reaching $2.61 amid speculation over the lawsuit.
• SEC lawsuit against Ripple Is still ongoing, but no official update yet.

In a podcast interview, Anthony Scaramucci, former White House Director of Communications, noted that the U.S. Securities and Exchange Commission (SEC) may have already dropped its case against Ripple (XRP).

This comment, made during a conversation with podcast host Scott Melker, has raised interest in the crypto community. After all, the current lawsuit between the SEC and Ripple has been one of the most watched legal battles in the crypto market. 

Scaramucci’s Ripple-SEC Speculation

During the interview, Scott Melker talked about the most recent SEC actions’ dropping charges they had leveled against cryptocurrency-related businesses, including Coinbase, Gemini, and ConsenSys. At that point, Scaramucci suggested that Ripple should also be added to the list.

Even though the SEC lawsuit against Ripple is still going on, Scaramucci’s remark hints at a possible change in the agency’s view. The lawsuit, filed in December 2020, accuses Ripple of doing an unregistered securities offering through the sale of XRP. The case has become important because of what it means for regulating digital currencies in the United States.

Despite the legal fight, many in the crypto community have wondered if the SEC may quietly stop its case against Ripple, opening the door for a better regulatory environment for XRP. However, the SEC has not officially said anything about the lawsuit’s status..

XRP’s market performance brought in market attention because of its price rise. 

In over 24 hours, the price of XRP jumped by 5.39%, reaching $2.61. This move up may be related to growing optimism about the lawsuit’s ending or investor sentiment around Ripple’s potential future in the crypto market.

XRP’s market value is currently at $151.46 billion, with a 24-hour trading volume of $6.09 billion, a drop of 36.06%. Even though trading volume is down, XRP’s price has kept going up, a sign of the market’s positive reaction to recent news.