XRP Holders Eye SEC Probe as Musk’s DOGE Initiative Calls for Whistleblowers

Crypto enthusiasts speculate that Elon Musk’s latest initiative targeting government inefficiencies could impact the U.S. Securities and Exchange Commission (SEC), potentially benefiting XRP and other tokens previously scrutinized by the regulator.

On Monday, the Department of Government Efficiency (DOGE), a Musk-led agency, posted a call to action on X:

“DOGE is seeking public assistance. If you have any information on waste, fraud, or misconduct within the SEC, please send us a direct message.”

The announcement sparked excitement among XRP supporters, who believe a deeper look into SEC practices could expose potential conflicts of interest in the regulator’s ongoing appeal against Ripple. Any revelations that weaken the SEC’s stance could serve as a catalyst for XRP’s price action.

The SEC originally sued Ripple Labs in 2020, alleging that XRP was sold as an unregistered security. Although Ripple secured a favorable ruling in 2024, the case remains in limbo due to an ongoing appeal.

DOGE, Musk’s newly established agency, is focused on cutting excessive regulations and restructuring inefficient government institutions. Named after the memecoin Dogecoin (DOGE), which Musk has frequently promoted, the agency has drawn significant attention from crypto circles.

The SEC’s regulatory crackdown under the previous administration made it a controversial figure in the crypto industry. However, under President Donald Trump, who took office on January 20, the regulatory environment is shifting.

Despite the speculation, XRP has remained relatively steady, dipping just 1.4% in the past 24 hours, outperforming bitcoin (BTC), which fell 2%, and the broader crypto market, which declined 2.5%, as tracked by the CoinDesk 20 Index.