Supreme Court Ruling Raises Questions about SEC Authority in XRP News Today

Welcome to Extreme Investor Network, where we provide you with unique insights and information to help you navigate the intricate world of the stock market, trading, and all things Wall Street. Today, we have some interesting developments in the crypto world that could impact investor decisions.

On Friday, Kraken co-founder and chairman Jesse Powell made headlines with a $1 million personal donation to the Donald Trump campaign. Powell’s move was seen as a way to support a candidate who he believes will champion pro-crypto policies, especially in light of what he perceives as anti-crypto sentiments from Senator Elizabeth Warren, SEC Chair Gensler, and the Biden administration.

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Meanwhile, the SEC is facing backlash from the courts, with Ripple Chief Legal Officer reacting to another SEC loss in the US courts. The US Supreme Court’s recent decision to overturn a 1984 precedent has further curbed federal agency authority, leading to reactions from various stakeholders.

US Senator Cynthia Lummis welcomed the Supreme Court ruling, emphasizing the importance of restoring decision-making powers back to lawmakers who are accountable to the American people. Ripple CEO Brad Garlinghouse’s previous comments about an SEC appeal reaching the Supreme Court also resonate in the current scenario, hinting at a potential shift in regulatory dynamics.

As the tide potentially turns towards a more crypto-friendly regulatory environment in the US, there is speculation about how this could impact the price action of XRP. With the potential for an XRP move towards its all-time high, investors are keeping a close watch on the outcome of the SEC appeal against the Programmatic Sales of XRP ruling.

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Stay tuned to Extreme Investor Network for more updates and insights on the latest developments in the stock market and cryptocurrency landscape. Our expert analysis and unique perspectives will ensure you stay ahead of the curve in your investment decisions.

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