- SEC chair Gary Gensler announced his stepping down in January
- XRP surged by 25% during 24 hours after this news, now at ~$1.42
Another twist in the long-running SEC vs. Ripple drama has occurred: SEC chair Gary Gensler announced his stepping down in January.
Since he was a key figure in the XRP standoff, the price jumped 25% to ~$1.46 within 24 hours and has now corrected to ~$1.42.
More About XRP Dynamics
The drama surrounding the SEC and XRP has been one of the most sensational in recent years, but it seems XRP is gaining the upper hand.
First Ripple won its case with the SEC, recently took away its 6th place in the top cryptocurrencies from DOGE again, showing a capitalization of ~$80B, and now Ripple’s key opponent is going into retirement in January.
Who will take his place remains probability, and the list of candidates is growing, as it was recently with Goody Guillén.
And yet, the news of the upcoming one has already added to the growth of XRP, which has shown good results before based on CoinGecko data, namely 30 days +168.6%, 7 days +60.9%.
And in the last 24 hours after Gary Gensler announced his stepping down in January, XRP price jumped 25% to ~$1.46, which is a record since April 2021.
However, XRP later encountered a correction and is now trading at ~$1.42, but there is a chance that this is just the beginning of good news that could support its price.
Conclusion
Ripple is a key player in Web3, and it is no coincidence that it ranks 6th among all cryptocurrencies. Therefore, economic and political decisions and their effects impact it most directly, so far favorable.
But the current state is highly fast-paced and dynamic, so be aware and stay tuned.
