Donald Trump's victory and Gary Gensler's resignation news, XRP$XRP
led to a huge increase in its price. Ripple’s native token reached its highest level in six years. Now, the SEC and CFTC merger is on the agenda. John E. Deaton and others support this merger to improve crypto regulation. According to analysts, if the merger happens, the prices of XRP and XLM Coin could see a big increase.
The merger of the SEC and CFTC has been talked about for years. However, three months ago, US Congressman John Rose introduced a bill encouraging this merger. Now, famous crypto lawyer John E. Deaton has made a similar call. He stated that these two institutions could improve cryptocurrency regulation by working more harmoniously. The merger could bring the US on par with other countries and end the ‘gray zone’ in the cryptocurrency market. Industry leaders such as Elon Musk and Vivek Ramaswamy also support this proposal. Donald Trump also plans to transfer cryptocurrency market oversight to the CFTC. The CFTC already oversees derivatives markets and commodities.
Many crypto enthusiasts believe that the SEC is hindering the growth of the crypto market and have been criticizing Gary Gensler in particular. XRP has suffered a huge loss of value due to the three-year-long process and regulatory hurdles. XLM Coin has also seen a similar price movement, affected by the SEC’s harsh stance against Ripple. As a result, US investors lost access to many crypto assets and the market shrank. However, XRP has recently recovered from these negativities and reached a six-year high of $2.84 earlier this month. This has raised new hopes for the Ripple token. Similarly, XLM$XLM
The coin is also rising, and analysts believe that the resignation of Gary Gensler and the SEC-CFTC merger will push the prices of XRP and XLM higher.
Crypto analyst Pooja Khardia has optimistic predictions for XRP and XLM. Noting that Donald Trump’s victory has increased the price of the Ripple token, Khardia predicts that the price of XRP could rise to $15-20. Currently, XRP is trading at $2.43 with a market cap of $138.81 billion, which is a six-year high. Developments such as Gensler’s resignation and the SEC-CFTC merger could create major opportunities for XRP.
The price of XLM Coin could also rise to $5 in parallel with XRP, especially considering that XLM follows the price action that XRP follows. XLM is currently trading at $0.4296. It is stated that if the Ripple token makes a significant jump, this increase could be enough to push XLM to $5.