Will Gary Gensler’s Resignation Send XRP Soaring or Plummeting?

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On January 20, 2025, Gary Gensler, who currently heads the U.S. Securities and Exchange Commission, plans to step down. This marks a conclusion of his tenure. During his term, Gensler has been particularly involved with the crypto sector, notably in connection to the SEC’s case against Ripple. As a result of this resignation, investors are expecting shifts in XRP‘s price trends, considering the potential regulatory and political changes under the imminent 47th U.S. President, Donald Trump.

Gary Gensler Farewell Speech & What To Expect?

Gary Gensler currently holds the position of chairman for the U.S. Securities and Exchange Commission (SEC), which he assumed on April 17, 2021. Shortly after Donald Trump’s victory in the U.S. election, he announced his intention to resign, with his last day being January 20, 2022, at noon. It is worth noting that Trump has selected Paul Atkins as a potential successor for the SEC chair position; however, the final decision will be made by the senators’ votes. In the meantime, Gary Gensler may deliver his farewell speech before officially stepping down, depending on their public announcements.

Previously, Gensler graciously thanked his peers and colleagues, which seemed like a heartfelt farewell to some. More recently, he posted a detailed thread emphasizing significant accomplishments of the SEC during his tenure, including handling over 2700 cases, returning approximately $2.7 billion to the public, finalizing 46 rules, and much more.

I strongly support free markets, fair competition, and sensible regulations that are beneficial to both investors and issuers. This is why our team and this agency play a crucial part in regulating the markets and enforcing the commonsense guidelines set by U.S. securities laws.

In this upcoming farewell address, we can expect a comparable exploration of Gary Gensler’s professional odyssey. Notable analysts hint that he may once more express his opinions about XRP, emphasizing its potential classification as a security.

Is Gensler’s Resignation The Push XRP Needs?

In the wake of the SEC’s accusation that XRP is a security and numerous regulatory shortcomings, Ripple experienced a significant drop in value, with its price dipping from $3.8 to an average of $0.5 amidst ongoing legal battles between the SEC and Ripple, during which Gary Gensler played a key role. However, the unexpected surge occurred after Trump’s election victory in the U.S., as XRP reached a 7-year high at $3.38. Interestingly, the impending inauguration of Trump and Gary Gensler’s resignation sparked renewed optimism among investors. This resurgence and dislike for the current SEC Chair suggest that the Ripple token might perform better without Gary Gensler.

Today wraps up Gensler’s complete day in office. From tomorrow onwards, it would be fitting to respond with “Who’s Gary?” when his name is brought up. As Stuart Alderoty, Ripple’s Chief Legal Officer, continues the journey forward.

Furthermore, there’s ongoing talk about Paul Atkins being considered for the SEC Chair role, driven by growing investor calls for stricter regulations. Meanwhile, the probability of Ripple ETF approval on Polymarket has climbed to 66%. As JPMorgan notes, this could potentially bring in $4-$8 million in initial inflows, and the price may significantly increase.

XRP Price Targets $20, But With Consolidations

For years, crypto fans and XRP owners have eagerly anticipated Gary Gensler’s departure from his role due to his firm regulatory approach towards the crypto market. Since his resignation was announced in November 2024, the price of XRP has been on a steady upward trajectory, fueled by investor excitement. This week, the Ripple token reached a seven-year high before experiencing significant consolidation today. Currently, XRP is trading at $3.15 after a 6% price drop, as market activity from investors has slowed with mixed feelings prevailing. However, in the larger market context, the bullish trend remains noticeable.

According to crypto analyst Andrew Griffiths, his prediction for Ripple indicates a possible consolidation pattern, with the range between $2.80 and $2.90 potentially serving as a turning point. He suggests that Elliot’s Wave Theory implies that Wave 3 is about to end, followed by a corrective phase in Wave 4. However, Griffith advises patience from investors, as Wave 5 could restart the bullish trend, propelling the Ripple price back up towards $3.30.

In the future, it’s possible that the value of XRP could reach $20 if Ripple’s ETF is approved and there’s continued backing from positive market influences.

Will XRP Price Hike With Gary Gensler Farewell?

Given the present circumstances, Gary Gensler’s departure speech might lead to an increase in the value of Ripple tokens. However, it’s important to note that investor sentiment will largely dictate the outcome. If there’s increased selling activity, temporary drops could occur. The market is particularly volatile during significant economic events, and this is especially true now since analysts predicted Bitcoin‘s price would stabilize around Donald Trump’s inauguration. Despite this uncertainty, a bullish trend persists for the long term, suggesting that XRP could potentially reach $20 with Donald Trump in office, ETF approval, and clearer regulatory guidelines.

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2025-01-18 11:24