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Gary Gensler officially completed his tenure as the Chairman of the U.S. Securities and Exchange Commission (SEC) on Friday. Following this development, Ripple’s Chief Legal Officer (CLO) Stuart Alderoty stated on social media that Gensler would no longer be a key figure in SEC discussions, signaling a potential shift in the landscape for the crypto industry.
Gensler’s Tenure and Its Impact on Ripple
In his remarks on platform X, Alderoty expressed that Gensler’s departure would lessen his influence on ongoing discussions within the crypto sector. Since 2020, Ripple 
$2 has been entangled in legal battles with the SEC regarding the sale of XRP as an unregistered security.
The SEC claims that Ripple sold XRP tokens as unregistered securities; however, Ripple contests these allegations. In 2023, a court ruled that sales of XRP to individual investors did not violate securities laws, granting Ripple a partial victory. Nevertheless, the SEC appealed this decision, maintaining a level of uncertainty in the ongoing process.
Following Alderoty’s comments celebrating Gensler’s last day, XRP’s price saw an increase. The token rose to $3.27 on Friday, with some market analysts predicting it could reach a target of $10 in the short term. Alderoty remarked that the crypto industry would soon be asking, “Who is Gary?” in reference to Gensler’s departure.
Increased Expectations for XRP ETF Approval
JPMorgan analysts anticipate that, if approved, the XRP ETF could attract an investment flow between $3-$8 billion. Given that early BTC and Ether ETFs captured 3-6% of the market value, XRP is also expected to achieve similar adoption rates.
Additionally, Gensler shared his reflections on his four years as SEC Chairman, noting improvements in retirement and treasury markets. He highlighted that $2.7 billion had been returned to harmed investors, showcasing the impact of his regulatory changes.
Ripple’s legal battles and XRP’s market performance provide crucial signals regarding the SEC’s future regulatory stance on cryptocurrencies. Gensler’s exit magnifies uncertainty about how the SEC will continue its crypto regulations, while the potential for XRP’s price increase and an ETF approval are viewed as promising developments for investors.
