Gensler’s resignation comes as Ripple$XRP remains embroiled in a lawsuit with the SEC, which accused the company of conducting a $1.3 billion unregistered securities offering. While the lawsuit received a major development earlier this year — when Judge Analisa Torres ruled that XRP is not a security on the secondary market — the case remains unresolved. The Ripple community believes that new SEC leadership could offer a more balanced approach to cryptocurrency regulation, potentially benefiting Ripple in its legal battle. Garlinghouse’s optimism reflects hope that the new chairman can foster an environment that encourages innovation rather than coercion.
For Ripple and its supporters, Gensler’s departure could be seen as a potential turning point for Ripple and the crypto industry. And for Ripple, it would mean a resolution to its long-running legal battle, offering a fresh start for XRP and its investors.
