This article explores the impact of SEC developments, regulatory shifts, and XRP-spot ETFs on price trends.

XRP and the broader crypto market succumbed to Wednesday's FOMC Economic Projections, which signaled fewer rate cuts in 2025. However, sentiment toward the SEC's plans to appeal rulings in the Ripple case remains pivotal to near-term price trends.

The SEC must file its opening brief by January 15, days before Chair Gary Gensler steps down on January 20. Recent SEC actions, including strengthening its legal team, suggest a determined approach toward an appeal.

Since announcing his resignation, Chair Gensler reinforced the SEC's enforcement division. The move underscored his intent to leave the incoming SEC Chair to address the objectives of seasoned crypto-enforcement officers.

However, before Atkins' arrival, the Senior Officers within the Enforcement Division may present a compelling case to appeal. The Programmatic Sales of XRP ruling will likely be the focal point. In July 2023, Judge Analisa Torres ruled that programmatic sales of XRP did not satisfy the third prong of the Howey Test.

The ruling enabled US crypto exchanges to re-list XRP. Following Trump's Chair nomination, hopes of an end to the Ripple case drove XRP to a December 3 high of $2.9070. While Paul Atkins may support Trump's pro-crypto agenda, internal SEC rules mandate that an agency vote, not the Chair alone, determines the appeal's continuation or withdrawal.

This exposes XRP to uncertainty about the appeal and the potential reversal of the Programmatic Sales of XRP ruling.