Could the Ripple Lawsuit Take a New Turn?
The day before Donald Trump’s inauguration, Gary Gensler resigned as chairman of the Securities and Exchange Commission, as promised. Pro-crypto Republican Mark Uyeda appointed interim chairman Newly inaugurated US President Donald Trump serves as the head of US regulatory agencies.
Importantly, many believe this change could impact Ripple, which has struggled under Gensler. Over the past 30 days, XRP has outperformed all top ten cryptocurrencies, including BTC, ETH, SOL, BNB, and DOGE, growing by 36%.
Ripple breathes a sigh of relief with Gary Gensler’s resignation
Gensler announced his decision to resign the day Trump defeated Kamala Harris. As promised, he resigned before taking office. Ripple is one of the cryptocurrency companies that has faced serious trouble due to Gensler’s unsupportive attitude towards the crypto industry. Many XRP enthusiasts believe this change could have a positive impact on Ripple’s XRP.
In addition, Mark Uyeda, who was appointed by Trump as interim chairman of the US SEC, has strongly criticized the SEC led by Gensler for its suppression of the cryptocurrency industry in the past.
XRP’s current market performance
On November 5, 2024, the price of XRP was approximately $0.5124. Since then, the market has grown by 505.85%. Between November 5 and 30 alone, the market rose 279.85%. On December 1, the market entered a range of $2.0591 to $2.7263. On January 15, the XRP market rose by 18.23% in a single day, breaking through the range. On January 16, the market peaked at $3.4021.
Currently, XRP price is $3.1013, which is at least 9.69% lower than the above-mentioned peak.
XRP ETF Approval and Whale Activity
XRP enthusiasts expect the new SEC government to approve the issuance of an XRP ETF.
Reports indicate that crypto whales purchased at least 100 million XRP in the past 48 hours.
Long-term XRP predictions
Technical analysts pointed out that XRP recorded a green day of at least 60% in the past 30 days, highlighting the existence of a strong bullish trend in the XRP market.
Experts emphasize the future potential of the XRP market, predicting that XRP may reach $4.33 by April 2025.
All in all, Ripple’s journey under the pro-crypto SEC leadership could redefine its future. With bullish predictions and ETF hopes, XRP may soon achieve its long-awaited breakout.
