XRP Holders Speculate as Musk’s DOGE Initiative Targets SEC Oversight
Elon Musk’s Department of Government Efficiency (DOGE) has drawn the attention of the crypto world after hinting at an investigation into the U.S. Securities and Exchange Commission (SEC), sparking optimism among XRP supporters.
On Monday, a newly launched DOGE-affiliated account on X issued a call for public assistance:
“DOGE is gathering information. If you have insights into waste, corruption, or regulatory overreach within the SEC, please DM this account.”
The message sent ripples through the XRP community, with many interpreting it as a potential challenge to the SEC’s authority. Some believe that if DOGE uncovers misconduct, it could weaken the agency’s ongoing appeal in the Ripple case—potentially benefiting XRP’s regulatory standing.
The SEC’s legal battle with Ripple Labs began in 2020, when the agency accused the company of conducting an unregistered securities sale through XRP. While Ripple secured a major legal win in 2024, the SEC is still pursuing an appeal, leaving uncertainty over the token’s future classification.
Musk’s DOGE agency, despite its playful branding, was formed to identify inefficiencies and reform federal institutions. Given Musk’s past advocacy for crypto-friendly policies, some traders see this as a strategic move that could influence future regulations.
XRP remained relatively steady despite the developments, dipping just 1.3% over the past 24 hours, outperforming Bitcoin’s (BTC) 2.1% slide and broader market losses.
