Former Commodity Futures Trading Commission (CFTC) chairman Chris Giancarlo recently appeared on Fox Business and said the U.S. Securities and Exchange Commission (SEC) will dismiss the lawsuit against Ripple.
Given the widespread expectation that Wall Street’s new top policeman would take a crypto-friendly approach, it seems probable that the SEC will settle its protracted legal spat with Ripple. Ripple’s top lawyer, Stuart Alderoty, recently made the argument that the SEC’s incoming chief should dismiss any cryptocurrency lawsuits that aren’t fraud claims on Day 1.
Gary Gensler, the head of the SEC, has now said that he will leave the organization in January. This brought new hope to Bitcoin, which had been at odds with the new chairman of the SEC.
XRP Price Surge 30% In a Single Week
Wednesday saw a 6% spike in the Ripple’s XRP price due to heightened whale purchasing pressure over the previous two weeks. The XRP price increased significantly from $1.28 on November 26. In order to overcome the overhead barrier at $1.63, the bulls will attempt to move the price over $1.50. Buyers may break through the barrier and push the XRP/USDT pair higher, first to $1.76 and then $1.97.
A market for XRP-spot ETFs might significantly increase demand for XRP and push the XRP price closer to its record high of $3.5505 set in January 2018. A precedent is provided by the US BTC-spot ETF market, where BTC has risen 113% from $46,742 on January 11, 2024, to an all-time high of $99,318.
Will Ripple (XRP) Beat Solana In 2025?
Ripple (XRP) and Solana (SOL) are two of the altcoins making significant waves as the cryptocurrency bull run grows stronger, each fighting for power. While Solana (SOL) continues its remarkable run, just exceeding its all-time high (ATH) of $260, XRP price has soared to its year-to-date high of $1.63.
In contrast to the doubts surrounding XRP’s future, Solana’s attitude has remained optimistic in recent weeks. Solana (SOL) has now surpassed its all-time high (ATH) of $260, continuing its run of significant achievements. Solana (SOL) continues to rise as debates about the approval of Solana (SOL) spot ETFs heat up in the wake of SEC Gary Gensler’s departure announcement in January 2025.
Using Heatmap For High Liquidity Range Identification
One sign that suggests SOL’s price may be ready for a decline is the liquidation heatmap. The heatmap aids in understanding the areas of the order books with considerable liquidity and forecasts price points where significant liquidations may take place.
For example, the color of the heatmap shifts from purple to yellow when there is a significant concentration of liquidity in a certain location. This hue shift often indicates that the price of the cryptocurrency may move in that direction. However, the hue stays purple if the concentration is minimal.
