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- Through his Truth Social account, Donald Trump announced that Ripple’s XRP will be included in the nation’s strategic crypto reserve.
- This has sparked debate over whether Donald Trump’s stance could influence the ongoing SEC lawsuit against Ripple, which began in 2020.
President Donald Trump’s announcement to include XRP in the U.S. crypto reserve has sent shockwaves through the digital asset community. Known for its efficiency in cross-border transactions, XRP now finds itself among a select group of cryptocurrencies, Cardano (ADA), Solana (SOL), Ethereum (ETH), and Bitcoin (BTC), that will be part of the national stockpile.
While this move has excited XRP holders, Bitcoin maximalists expected a BTC-only reserve and have voiced their dissatisfaction. More importantly, this development has reignited hopes for a swift resolution to the long-standing Ripple vs. SEC lawsuit. However, legal expert Jeremy Hogan remains skeptical, suggesting that the case may still take until May to conclude.
Jeremy Hogan’s Take on the Case Timeline
Responding to a question on X about whether Trump’s announcement would accelerate the lawsuit’s resolution, Hogan dismissed the idea, stating, “I don’t think so.” In a follow-up post, he elaborated further: “I think the appeals are dismissed by mid-April and the whole thing is over by May. But timing these things is always the most difficult.”
Hogan’s comments suggest that, despite the political shift, legal proceedings will follow their own course, unaffected by external factors like Trump’s endorsement of XRP.
James Murphy, better known as MetaLawMan, has shared an alternative perspective on why the lawsuit is dragging on. He speculates that Ripple itself may be negotiating with the SEC to vacate certain aspects of Judge Torres’s ruling, particularly findings related to securities law violations and the imposed injunction.
In an X post, MetaLawMan stated, “The Torres decision was unquestionably GREAT for $XRP holders, BUT the (a) finding of securities law violations and the (b) injunction (with attendant ‘bad boy’ provisions) are not so great for Ripple. This is particularly true if Ripple is considering a future exempt securities offering or IPO.” According to his theory, the SEC may have been willing to settle for a $125 million penalty, but Ripple could be holding out for a better deal, prolonging the final resolution of the case.
Since Donald Trump took office on January 20, the SEC has adopted a different approach to crypto regulation. Several high-profile crypto lawsuits have been resolved, reinforcing this new direction. As we reported, the SEC recently ended its investigation into OpenSea and, on the same day, dismissed its case against Coinbase. Additionally, the agency closed its investigation into Uniswap Labs, which had been under investigation since April 2024 for allegedly operating as an unregistered broker, exchange, and clearing agency, as well as for issuing unregistered securities.
The SEC’s upcoming “Spring Sprint Towards Crypto Clarity” conference, starting March 21, aims to define securities in the crypto space, signaling a broader push for regulatory transparency. While it doesn’t directly affect the XRP lawsuit, it reflects a shift toward a more structured and favorable regulatory approach.
Over the past 24 hours, XRP has surged 17.45%, reaching $2.66, with a 6% gain over the past week. Trading volume has skyrocketed by 579% in the last day, hitting $22.3 billion.
