Why is $XRP Coin Rising?
SEC Chairman Gary Gensler made comments today about his tenure at the commission. It was almost like a farewell speech, and he talked about the good things he had done. If a new U.S. President takes office, the current heads of institutions like the SEC resign from their positions because they come from a different party than the new president. Gensler came to office in this way, and the previous chairmen did the same.
Gensler is expected to do the same and resign. Of course, this increased the risk appetite of XRP Coin investors, as Trump said, "I will appoint a crypto-friendly person in his place." This caused the price to reach a historic peak of 0.8 dollars. Currently, there are many ETF applications including XRP Coin in front of the SEC. The likelihood of their approval has also increased.
The second major development is the filing of lawsuits by 18 states against the SEC Chairman and commissioners. They say that the crypto hostility constitutes an unconstitutional abuse of authority, and Gensler could be prosecuted for this stance.
