The token is struggling to rise above $2.15 as investors await the outcome of the SEC vote on Paul Atkins’s nomination as the next SEC Chairman.
After a week of wobbling in uncertain volatility, Ripple’s XRP price has retaken the hot seat and is struggling to rise above $2.25. Investors have seemingly adopted a wait-and-see attitude following the SEC’s silence on Ripple’s withdrawal of a cross-appeal and growing uncertainty over the nomination of Paul Atkins as the next SEC chair.
This week, the focus shifted to President Donald Trump’s nominee for the Securities and Exchange Commission (SEC) Chair, Paul Atkins. Following last week’s hearing by the Senate Republicans on the Banking Committee, the confirmation is scheduled for Thursday, April 3, 2025. Should the Senate confirm his nomination, it would signal the beginning of the final step in Trump’s government’s regulatory approach and a potential end to the agency’s enforcement-led stance on cryptocurrencies.
While the industry views President Donald Trump’s nominee for the SEC Chair as a crypto-friendly individual, Atkins faces political headwinds in Congress over issues surrounding conflict of interest. Experts within the crypto industry fear that if Atkins’ nomination fails, it will signal a return to stricter crypto regulation, negatively impacting the XRP price. Despite Ripple’s recent legal victory over the SEC, fresh doubts about regulatory leadership have cooled the token’s momentum.
The sentiment in the market shift is clear. According to analysts, traders are now assigning just a 35% chance that the SEC will greenlight an XRP spot ETF by July 31, accounting for a 7% drop since questions about Atkins’ nomination began circulating. That change in market perspective has fueled bearish pressure in both spot ETF and derivatives markets.
Although the confirmation of Paul Atkins as SEC chair remains a critical factor within the crypto space, the agency’s deafening silence regarding its appeal in the Ripple vs. SEC case has also weighed down on the XRP price sentiment. XRP has endured a negative impact since Ripple Labs CEO Brad Garlinghouse announced the withdrawal of their appeal against the SEC.
There’s a lot of speculation surrounding the SEC’s failure to issue an official statement. Whether the SEC’s silence is a strategic move awaiting Atkins’ confirmation, whether the agency is finalizing settlement terms on Judge Torres’ final judgment, or whether it’s prioritizing more urgent crypto cases, no one can really tell at the moment. While market optimism about the possibility of the SEC withdrawing its appeal against sales of XRP remains, analysts fear selling pressure could intensify as long as the agency maintains the silent stance.
While Ripple’s legal battles may gradually end, the XRP price is currently walking a tightrope even as the broader crypto regulatory landscape remains a wild card. As a decision about the nomination of Paul Atkins as the SEC Chair remains imminent and the air surrounding a spot XRP ETF remains pending, investors are treading with care, meaning the next few weeks will be critical on whether XRP will fully recover or stay bogged down.
XRP and other cryptocurrencies are struggling as financial markets brace themselves for a trade war amid new tariffs from President Donald Trump that kick in this week. However, XRP has additional issues surrounding the uncertainty on the end of its legal problems with the SEC.
The SEC had accused Ripple of selling XRP in an unregistered security offering. The outcome of the U.S. regulator’s court case against Ripple may have far-reaching consequences for the cryptocurrency industry.
XRP price prediction models suggest XRP could reach between $3.52 and $4.29 at its peak in 2025. XRP’s growth will largely depend on Bitcoin’s performance and continued positive developments following its legal victories.
