Gary Gensler, the US SEC chair, will resign from his current position, marking a transformative change within the cryptocurrency sector. Gensler is often touted as a skeptic regarding the crypto domain, and his exit was one of the crucial agendas that the Trump regime wanted to execute from the get-go. Now that Gensler is out of the picture, XRP, the token that fought a massive legal feud with the US SEC, is free to conduct market proceedings, helping it claim its rightful place. Here’s how XRP may dominate the market under the Trump regime, favoring such crypto developments.
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XRP Bound To Soar High As Gensler Exits The Domain
Source – Trackinsight
XRP is in a position to claim a new ATH now that Gary Gensler is all set to step down from his position as the US SEC chair. This marks a celebratory phase for the token, as Gensler had accused XRP of being a security, an accusation that compelled XRP to explore lower levels of valuation for years. However, Ripple, in its quest to prove its innocence, left no stone unturned to fight the US Senate to emerge stronger than ever.
Per Anders, a notable cryptocurrency analyst, Gensler’s exit may usher in new developments surrounding Ripple. This may include the withdrawal of the appeal that was earlier lodged by the US SEC against the token. Furthermore, the analyst noted how the development may steer clear the path for tokens to explore launching RLUSD and a wave of XRP ETFs.
Anders pointed out how US banks and financial institutions may also contemplate collaborating with Ripple now that the firm is clear about its policies and functionalities.
“Now that Gary has announced his resignation. We can expect a lot of developments surrounding Ripple & XRP. The appeal settled with the new administration, or even dropped perhaps. 2. XRP ETFs approved 3. Ripple IPO. 4. RLUSD should be launched anytime (even though it’s probably unrelated). 5 US banks and financial institutions giving Ripple a call (perhaps Bank of America wants to talk? ). 6. Ripple given green light to move forward with a ruling that ”XRP in itself is not a security.” Probably quite a while before any crypto legislation is in place. Could give Ripple an edge on the market.”
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Brad Garlinghouse Reacts To Gensler’s Resignation
The CEO of Ripple, Brad Garlinghouse, took to X to share his reaction to Gensler’s exit from the domain. He stated how he’s thankful for the development, stressing the fact that Gensler is stepping down from his position at the US SEC. Gensler’s resignation may also prompt an overall crypto optimism in the market, which may cause XRP to spike high.
In another tweet, Garlinghouse also shared how the Trump regime displays a positive attitude towards cryptocurrency, which can help the industry conquer a new path.
“Joined @MorningsMaria to discuss a new dawn for crypto in the largest economy in the world under the Trump Administration. The industry has been asking for clear rules of the road for years. And I’m incredibly optimistic for what’s next as we move past the unlawful war. And shameful political tactics of the Biden Administration.”
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