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In a stunning turn of events, Ripple ($XRP ) has seen a 5% surge in price following news that Gary Gensler, the Chairman of the US Securities and Exchange Commission (SEC), will step down on January 20th, 2025. This announcement comes just as Donald Trump is set to be inaugurated as the 47th President of the United States.
Gensler, who has been at the center of the SEC's prolonged legal battle against Ripple, shared his decision on X (formerly Twitter), stating that he believes the SEC will continue its work of protecting investors and fostering market growth. However, many in the crypto community are speculating that this change could mark a shift in the SEC's approach toward crypto companies like Ripple.
Ripple’s $XRP price reacted immediately with a sharp 5% increase as traders anticipate potential changes in the SEC's stance following Gensler's departure. Could this be the beginning of a new phase for Ripple, or is this just a speculative jump? Only time will tell.
📊 Key Levels to Watch:
Resistance: $1.3967 – A break above this could spark further upside momentum.
Support: $1.2593 – If the price drops toward this level, it could signal a deeper pullback.
🚀 What’s Next for $XRP ? With this unexpected announcement, traders and investors are eyeing XRP for potential moves, given the uncertainty surrounding the future of the SEC’s legal approach to crypto. Keep an eye on XRP as it could see more volatility in the coming days!