XRP Lawsuit Dismissal May Delay, Ex-SEC Says Despite Paul Atkins’ US SEC Entry

The speculations on a sooner-than-expected XRP lawsuit dismissal have soared as Paul Atkins has been sworn in as the new US SEC chair. Optimism surged as pro-crypto voices anticipated that Atkins would accelerate pro-digital asset reforms. However, it appears that not all experts agree. A renowned ex-SEC lawyer has countered the hype, pointing to deeper reasons behind ongoing delays in the Ripple case and other issues.

Ex-SEC Disagrees With Swift XRP Lawsuit Resolution Claims

The optimism in the crypto market surged as Paul Atkins officially took charge at the US SEC recently. His swearing-in sparked a wave of speculation that the XRP lawsuit could soon wrap up.

Meanwhile, commenting on that, pro-XRP lawyer Fred Rispoli suggested that Atkins’ arrival eliminates excuses for delays. According to Rispoli, it’s now time to test whether the SEC’s pro-crypto stance is genuine.

However, ex-SEC lawyer James Farrell offered a more grounded take. He stated that the absence of Atkins didn’t hinder recent SEC actions. Instead, Farrell pointed out that the Commission had approved multiple case dismissals and Ripple’s stay request in the XRP case even before Atkins stepped in.

In his view, any pending decisions aren’t caused by leadership gaps. Instead, the US SEC might still be drafting proposals or collecting feedback before acting further. Notably, this difference in opinion has left the crypto community divided. While some see hope in Atkins’ arrival, others are urging caution and patience.

Ripple Vs SEC Case: A Quick Look At The Latest Developments

The XRP lawsuit caught the eyes of traders as the US Court of Appeals paused both Ripple and SEC’s appeal processes last week. This decision, based on a joint request from both sides, offers them time to finalize a settlement.

Meanwhile, the court has also asked the US SEC to file a progress update within 60 days. This legal pause signals that the Ripple Vs SEC case may not end immediately, but a resolution could be nearing.

However, with the court ordering a 60-day status update and no immediate decisions expected, all eyes are on XRP case settlement talks. Besides, whether Atkins’ entry will speed things up remains unclear.

Amid this, XRP price today fell around 2% to $2.09 accompanied by a soaring trading volume of 5% to $2.43 billion. However, it’s worth noting that the crypto has touched a high of $2.14 in the last 24 hours. However, despite this consolidating phase of Ripple’s native asset, many expect a robust breakout after the XRP lawsuit is concluded.

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
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