On Saturday, November 16, the $XRP token exceeded the psychological threshold of $1 for the first time since December 2021. At the time of writing, XRP is trading at $1.02, up 83.8% over the past week.

According to CoinGecko, the cryptocurrency's capitalization has reached $58 billion. The asset is demonstrating the greatest sensitivity to news about the possible resignation of Gary Gensler as head of the SEC due to the long-standing litigation between Ripple and the regulator. The reason was the official's statement, which many saw as preparation for such a scenario. In December 2020, the SEC accused Ripple of selling unregistered securities in the form of XRP worth $1.3 billion. The defendants in the case also included CEO Brad Garlinghouse and co-founder Chris Larsen.

In July 2023, the court ruled that programmatic sales and other distributions of Ripple did not constitute the offer and performance of investment contracts. However, according to the decision, the sale of tokens to large players violated U.S. securities laws.

The court rejected the SEC's interlocutory appeal, finding that it lacked sufficient evidence and that its consideration would not "substantially advance the final dismissal of the case."$LUNA $CLV