Ripple Criticizes Sec

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Ripple Criticizes Sec

Ripple Criticizes Sec Of Enforced Regulation

Executives at Ripple have criticized the SEC over its legal strategies. Meanwhile, increased activity was seen in the XRP trading token.

According to Ripple's CEO, the SEC is trying to implement regulations by enforcement. Gensler, the current SEC chairman, will be stepping down in a few days, which is why the Ripple executives are now talking.

Ripple Awaits Sec Leadership Change

Its important to note Gensler has been a key figure in the SEC action plan to regulate the largely unregulated crypto market in the USA.

But Ripple CEO believes that the actions by the SEC overlooked the concerns of the public. He also added that the 2024 elections had an impact & could change things for the better.

The Chief legal officer of Ripple also blasted the SEC as they declined the firm's request to further delay the appeal brief's filling. It appears that Ripple wanted to appeal to the SEC once it gets new leadership, but the SEC didn't allow it at all.

He also added that this decision by the SEC was totally unnecessary. However, he remains confident that their legal position is strong and the new leadership at SEC will make it easy to reach a resolution.

Ripple has been struggling with legal troubles for many years now. The SEC has alleged that Ripple sold XRP without registration as it is a security. But Ripple says XRP is a cryptocurrency and not a security.

In Ripple's defense, the XRP is similar to Ethereum and Bitcoin. For these coins, the SEC has not called them securities, adding credibility to Ripple's claim.

Back in August 2024, Ripple was ordered by the court to pay a fine of $125 million. However, the SEC was not satisfied and actually appealed the court decision.

These comments were welcomed by the traders as the XRP has been up by almost 9%. For now, the XRP is seen trading near $2.70 with its eyes locked on the $3.00 target.

This also raises the question of where the XRP is headed in 2025? If this legal battle turns out in favor of XRP, it will easily cross the $3.50 and even $4.00 depending on the broader market mood.

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