XRP surged 25% to over $1.4 after SEC Chair Gensler announced his January 2025 departure, raising hopes the SEC might drop its Ripple appeal post-Gensler.
On Friday, Ripple’s XRP token increased by 25% to surpass $1.4, following the announcement by SEC Chair Gary Gensler that his term will formally conclude on January 20. The token has maintained its upward trajectory.
The agency may decide not to pursue its appeal in the SEC vs. Ripple lawsuit as a result of Gensler’s departure, which could prompt a reevaluation of its approach to current litigation.
Joe Lubin, the CEO of Consensys, anticipates that the legal landscape for digital assets will be more favorable during Trump’s presidency. He implies that the ongoing SEC cases against crypto companies may be “dismissed or settled.”
Katrina Paglia, Pantera’s legal executive, anticipates that the departure of Gensler will result in a reduction in the number of actions and prospective dismissals.
It is anticipated that the number of SEC lawsuits against crypto companies will decrease or resolve without significant admissions of guilt following the Gensler ruling.
XRP fate in post-Gensler
The SEC may conclude an agreement with Ripple rather than pursue its protracted litigation process as a result of its new leadership.
Ripple would be able to continue its operations without the burden of ongoing litigation, despite the possibility of financial penalties being engaged in a settlement.
According to CoinGecko data, XRP has experienced a 138% increase this year, surpassing Ethereum’s performance and nearing Bitcoin’s year-to-date gains.
Since the market recovery of last year, the sixth-largest cryptocurrency by market capitalization has been in a state of stagnation, with prices fluctuating between $0.5 and $0.6, despite the fact that the majority of the crypto market is experiencing growth.
XRP achieved its highest price in three years last week, surpassing the $1 threshold amid rumors of a meeting between Trump and Ripple’s CEO and conjecture regarding Gensler’s potential resignation. The initial confirmation has been completed.
XRP now eyes the $2 level, according to crypto analyst Ali Martinez. He believes Gensler’s departure from the SEC is “the best thing that could happen to Ripple.”
Future Exchange Traded Funds (ETFs) for XRP
The prospective approval of a spot XRP ETF in the United States could serve as a bullish catalyst for the price of XRP.
Bitwise and Canary Capital are both in the process of obtaining SEC approval for their respective spot XRP ETFs. The status of XRP as a security is the subject of ongoing legal disputes, which has resulted in the temporary suspension of these proposed ETFs.
WisdomTree, an asset manager, announced the introduction of a tangible XRP ETP in Europe on Thursday.
The fund, which is also referred to as WisdomTree Physical XRP ETP (XRPW), is designed to offer investors exposure to the actual price of XRP.
WisdomTree asserts that this product is the most cost-effective XRP ETP in Europe and is entirely backed by the underlying asset, which is securely stored in cold storage.
Numerous members of the crypto community are upbeat about the imminent introduction of comparable XRP ETF products in the United States, following the successful launch of these in Europe.
