President Trump promised to fire Gensler on day one, fueling speculation within the XRP community that the SEC could drop the appeal if Gensler is fired.
XRP community member JacktheRippler posted on X.
“Donald Trump says: ‘On day one I will fire Gary Gensler and appoint a new SEC Chairman!’ If Trump wins this year’s election, SEC vs. Ripple will automatically end. ”
Pro-crypto lawyer Fred Rispoli recently outlined a possible timeline for the SEC’s appeal in the Ripple case. Specifically, Rispoli expects the SEC to seek a 30-day extension and file an appeal brief in January 2025. If Ripple files a cross-appeal, it must also submit a preliminary statement by January 2025.
However, it is unclear whether Chairman Gensler’s removal will automatically mean the end of the Ripple saga. The SEC’s appellate decision appears to be based on a vote of five commissioners. If Chairman Gensler casts the deciding vote on the appeal, and the next commissioner is pro-cryptocurrency, the commissioners could voluntarily vote to dismiss the lawsuit before filing the appeal brief.
SEC vs. Ripple Appeal: Prediction time
The timeline for Fred Rispoli’s appeal process is as follows:
