Trump’s New SEC Chairman Could Push XRP Price to $5, But Can Ripple Outperform Solana This Cycle?💥
Former Commodity Futures Trading Commission (CFTC) Chairman Chris Giancarlo recently appeared on Fox Business and said that the U.S. Securities and Exchange Commission (SEC) will dismiss the lawsuit against Ripple.
Given the widespread expectation that Wall Street’s new top cop would take a crypto-friendly approach, it seems likely that the SEC will resolve its long-running legal dispute with Ripple. Ripple’s top lawyer, Stuart Alderoty, recently argued that the new SEC chief should dismiss any crypto-related lawsuits other than fraud claims on day one.
Gary Gensler, the head of the SEC, has now said that he will leave the organization in January. This has brought new hope to Bitcoin, which had been at odds with the new SEC chairman.
XRP Price Surges 30% in a Single Week
Wednesday saw a 6% surge in the price of Ripple’s XRP due to increased whale buying pressure over the previous two weeks. The price of XRP has increased significantly from $1.28 on November 26. To overcome the resistance barrier at $1.63, the bulls will attempt to move the price above $1.50. Buyers could break through the barrier and push the XRP/USDT pair higher, first to $1.76 and then to $1.97. A market for XRP spot ETFs could significantly increase demand for XRP and push the price of XRP closer to its all-time high of $3.5505 set in January 2018. A precedent is provided by the US BTC spot ETF market, where BTC surged 113% from $46,742 on January 11, 2024, to an all-time high of $99,318.
Will Ripple (XRP) outperform Solana in 2025?
Ripple (XRP) and Solana (SOL) are two of the altcoins that are making significant waves as the crypto bull run strengthens, with each jostling for power.