US Government Shutdown Questions SEC Ripple Case and XRP

• Legal analysts believe that SEC’s failure to meet its January deadline could lead to the resolution of the long-running case against Ripple.
• The XRP native currency of Ripple could be set for a price increase as a result.

As indicated by its status update, the U.S. Securities and Exchange Commission has been preparing for an eventual shutdown of December. SEC issued a warning. “In the event of a federal government shutdown due to a lapse in appropriations, the SEC’s operating status will change concurrently with the rest of the federal government, in accordance with the agency’s plan.”

Ripple Lawsuit Impact As SEC Mulls Shutdown

The SEC is presently focusing its efforts on critical operations. SEC prepares to make sure the “continuing operation of certain Commission systems,” It includes the EDGAR. The agency has also increased its focus on EDGAR despite being shut down. “market integrity and investor protection components of our mission.”

The President-elect Donald Trump has rejected the proposed federal funding measure. Trump’s choice has increased the probability of a federal shutdown in 2025 before Trump takes office.

The SEC could be affected if the shutdown continues into January. This would make it difficult for the SEC to reach a January 15th deadline on the appeal phase in its Ripple lawsuit. Legal analysts believe that this could be the final chapter in the long-running legal dispute which began December 2020. report. The native Ripple crypto, XRP could be significantly benefited.

The price of XRP is going to skyrocket.

XRP analysts and enthusiasts are watching these developments closely, while some predict a bullish path for crypto if this SEC case is resolved. XRP buyers purchased 110,000,000 XRP worth $250 million on December 19. This indicates a growing interest in the cryptocurrency. Additionally, $20.50 in short positions can be liquidated should XRP rebound to $2.62.

Dark Defender is a cryptocurrency analyst who has provided a comprehensive technical analysis regarding recent price fluctuations and possible targets for Ripple’s native currency XRP. “The correction continues at full speed. In the 4-hour time frame, XRP touched our $2.72 level as expected and bounced towards our support level at $2.17,” In his last update, he made this observation.

He stressed that key prices levels are important. He wrote: “Now, $2.17 remains a support level, and XRP can have a double tap on this level. If you see sagging below here, $2.09 will be in play.”

Dark Defender stressed the importance of ending the correction phase by breaking the resistance at $2.62. “The $2.52 level is reduced to the $2.50 level now. So XRP must break here, significantly $2.62, to complete the correction! I will update you when things change.” If the bullish trend continues, he also stated that he would target a long-term all-time highest (ATH) price of $5.85 per XRP. reported CNF. 

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