- Gary Gensler is set to resign as the SEC Chair on the 20th of January, paving the way for new SEC leadership.
- Per Ripple’s CEO, Trump’s win is already having a positive impact on the company.
As a crypto investor, I’ve noticed a substantial growth in my Ripple [XRP] holdings this year, with a remarkable 15% increase that currently positions it at $2.40 per token. This impressive surge has placed XRP ahead of many cryptos, even surpassing Bitcoin [BTC].
This month, it’s expected that the price of Ripple (XRP) may experience substantial fluctuations, given a series of advancements potentially strengthening its legal position.
Last October, the United States Securities and Exchange Commission (SEC) lodged an appeal in a protracted court case that has been running for four years, aiming to establish whether XRP should be classified as a security or a commodity.
At that point, the appeal had a negative impact on XRP’s prospects, but optimism for a favorable outcome has been rekindled due to an impending change in the leadership at the SEC.
Will Gensler’s resignation impact the SEC case?
On the 20th of January, it’s anticipated that Gary Gensler, who is currently serving as the chair of the SEC (Securities and Exchange Commission), will step down from his role.
In late November, it was announced that Gensler would be leaving his position at the regulatory body. This decision was perceived as marking a shift in the Securities and Exchange Commission’s (SEC) previously critical standpoint towards cryptocurrencies.
As an analyst, I can confirm that I have learned from reliable sources that the position of SEC Chair has been filled by none other than Paul Atkins, a former commissioner at the SEC. This news has been met with approval within the cryptocurrency community.
Ripple’s CEO, Brad Garlinghouse, noted that he would,
“Bring common sense back to the agency.”
This shift in management might signal a pivotal moment for XRP, potentially strengthening its position as a non-security asset.
“Trump effect” is good for Ripple
According to Garlinghouse, Trump’s election win is already having a positive effect on Ripple.
In a recent update on what was previously known as Twitter, he disclosed an interesting fact: During the final six weeks of 2024, Ripple managed to seal more agreements than it did in the preceding six months. He emphasized this achievement by pointing out that these deals were signed during such a short period.
2025 has arrived, and the Trump-era bull market is indeed taking place. This development holds a deeper significance for Ripple, as the SEC’s actions under Chairman Gensler have essentially curtailed our domestic business prospects for several years.
In response to Garlinghouse’s tweet, John Deaton pointed out that Ripple’s progress serves as evidence of the negative impact on American businesses due to unclear regulations in the past.
In addition to handling regulatory ambiguity, Ripple has unfortunately been impacted by excessive government intervention and biased application of the law.
Is XRP poised for gains?
Over time, Ripple’s ongoing legal dispute with the SEC has hampered its growth in value. But given that Trump’s victory might be beneficial for Ripple, there’s a possibility that the token may surge when the new chair of the SEC takes office.
Furthermore, favorable outcomes in the SEC vs. Ripple lawsuit have historically indicated a bullish trend for the price. Therefore, should the appeal be withdrawn, it might signal the start of another upward movement.
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2025-01-07 02:31