The price of XRP Coin surged to $0.8 while BTC remains around $90,000. Today, speculation surrounding SEC Chairman Gensler’s resignation has increased investor optimism towards XRP Coin.
Reasons Behind XRP Coin’s Rise
SEC Chairman Gary Gensler made comments regarding his role in the commission today. His remarks resembled a farewell speech, during which he mentioned his accomplishments. If a new U.S. President takes office, current heads of institutions like the SEC typically resign, especially when they belong to a different party than the new President.
Impact of Gensler’s Potential Resignation
Gensler’s expected resignation has fueled investors’ appetite for XRP Coin, particularly following Trump’s statement about appointing a crypto-friendly successor. This has driven the price to an all-time high of $0.8. Currently, there are many ETF applications pending approval by the SEC, including for XRP Coin, which have a higher chance of being approved.
Another significant development is the lawsuit filed against SEC Chairman and commission members by 18 states. They argue that anti-crypto sentiments indicate an unconstitutional overreach of authority, and Gensler could face legal consequences for this stance.
