As a seasoned researcher who has witnessed the tumultuous ride of the cryptocurrency market over the past decade, I must admit that the recent surge in XRP‘s price has piqued my interest. The 10% increase within a day and reaching a new 2024 high is certainly noteworthy, especially considering the turbulent times we have seen in this sector.
In the last day, the debated digital currency, XRP, has seen an increase of over 10%, reaching a fresh peak for 2024 at $0.7734 earlier today, Thursday.
As I analyze the current market situation, it’s evident that I find myself looking at XRP, which stands out as the leading performer among the top 10 cryptocurrencies. It’s quite remarkable to see how it’s outpacing other significant digital currencies in terms of growth.
The token surged significantly, fueled by speculation that SEC Chair Gary Gensler could step down the following day.
In his latest remarks that were prepared for a recent legal conference, Gensler stated that there had been “significant investor harm” in the cryptocurrency field. He has also argued that “the vast majority” of cryptocurrency tokens do not have proper use cases.
Once again, he stressed the importance of providing the public with proper disclosure.
The head of the Securities and Exchange Commission (SEC) has additionally pointed out that several courts have backed the agency’s efforts to safeguard investors, using instances like SEC versus Binance, SEC versus Coinbase, and SEC versus Ripple Labs as examples.
Simultaneously, he reminded everyone that it was during his tenure that approval for Bitcoin and Ethereum ETFs was granted.
Is this the end?
The language of Genser’s final pitch suggests that his resignation is extremely close.
He expressed pride in working alongside his peers at the SEC, who consistently strive to safeguard American families in the complex world of finance, every single day. This was stated as he wrapped up his speech.
John E Deaton, who is both a legal specialist and a cryptocurrency advocate, expresses the opinion that Gensler could resign by this coming Friday.
Despite his term ending in June 2025, it’s anticipated that he will resign before then.
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2024-11-14 23:10