The U.S. Securities and Exchange Commission (SEC) has decided to press ahead with its appeal in the Ripple lawsuit, undeterred by the impending leadership changes at the agency. Current SEC Chair Gary Gensler is set to step down on January 20, but the regulator is moving full steam ahead with its enforcement cases, including the high-profile Ripple appeal.

SEC Refuses Ripple’s Postponement Request

Ripple’s Chief Legal Officer, Stuart Alderoty, revealed on January 14 that the SEC declined to postpone the hearing for its appeal. The appeal challenges a partial ruling from July 2023, which concluded that Ripple’s sales of XRP to retail investors on digital asset platforms did not breach U.S. securities laws.

The SEC originally filed the appeal in October 2024, seeking to overturn parts of the decision favorable to Ripple. The case, which dates back to late 2020, has been closely watched as a potential precedent for how regulators approach digital assets in the United States.

XRP Price Soars Amid Legal Drama

Despite the SEC’s continued legal push, XRP investors seem undeterred. The cryptocurrency surged by over 15% in the past 24 hours, reaching $2.99, and even breaking above $3.00 on some exchanges like Coinbase, according to CoinGecko data.

This rally underscores the resilience of XRP’s investor base, who remain optimistic about Ripple’s chances in the ongoing legal battle.

Ripple’s Mixed Legal Fortunes

While the July 2023 ruling was a partial victory for Ripple, it hasn’t been all smooth sailing. In August 2024, a federal judge ordered Ripple to pay $125 million, ruling that the company violated securities laws while raising funds.

The ongoing appeal represents a pivotal moment for both Ripple and the SEC, with potential implications for the broader cryptocurrency industry.

The SEC’s decision to push forward with its appeal comes at a time of transition. Gary Gensler’s departure as SEC Chair coincides with the inauguration of President-elect Donald Trump, who has promised to reduce regulatory oversight. This shift could potentially alter the SEC’s approach to digital assets in the long term.

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