On Wednesday, December 4, news hit the wires of President-elect Donald Trump nominating former SEC Commissioner Paul Atkins as the next SEC Chair. Atkins will take office on January 20, 2025, coinciding with Chair Gary Gensler’s departure. This leadership shift signals a potential overhaul of crypto policy.

As SEC Chair, Atkins will face immediate challenges, including whether the SEC will:

• Pursue its appeal against rulings in the Ripple case.
• Continue its legal proceedings against Coinbase (COIN), Binance, and other crypto firms.
• Reassign anti-crypto enforcement lawyers.
• Approve the pending crypto-spot ETF applications.

For XRP and the broader crypto market, the SEC’s plans regarding its appeal against Ripple will be pivotal. The SEC must file its appeal-related opening brief by January 15, just days before Atkins becomes SEC Chair.

XRP could face selling pressure if the SEC files its opening brief, offering convincing arguments against the Programmatic Sales of XRP ruling. Conversely, XRP could climb to new highs if the SEC withdraws its appeal. A withdrawal would set the Programmatic Sales ruling as a pivotal legal precedent.