XRP Surges 25% amid SEC Leadership Change and ETF Optimism

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As a seasoned crypto investor who has weathered numerous market storms and witnessed the rise and fall of digital assets, I must admit that the recent surge in Ripple’s XRP token has brought a fresh wave of optimism to my portfolio. Having closely followed the SEC vs. Ripple lawsuit for years, I find myself hopeful at the prospect of a resolution with Gensler’s impending departure.

For the first time in three years, Ripple‘s XRP token has surpassed the $1.4 mark, experiencing a 25% increase in value on Friday. This surge can be attributed to recent developments concerning the U.S. Securities and Exchange Commission (SEC).

Lately, Chair Gary Gensler of the agency has announced his term ends on January 20th, which has fueled anticipation about potential shifts in their approach to crypto litigation. Experts and analysts are now speculating that a resolution could be near for the prolonged SEC vs. Ripple legal dispute.

New SEC Leadership, New Opportunities for Ripple and XRP

Under Gensler’s leadership, the Securities and Exchange Commission (SEC) was often viewed as unfriendly towards the cryptocurrency sector. This perception stemmed from the commission’s strict stance on crypto regulations, leading to numerous legal actions against crypto businesses, such as Ripple.

In essence, Gensler’s impending departure may significantly impact the industry as it might foster a more accommodating legal landscape for digital assets. This could be particularly beneficial for Ripple, as experts speculate that the SEC’s leadership change could lead them to reconsider their appeal in the ongoing case and instead pursue a settlement agreement.

In simpler terms, Joe Lubin, ConsenSys CEO, predicts that ongoing lawsuits against crypto companies might be resolved through dismissals or negotiations. This prediction is made considering the approaching end of Gary Gensler’s term and a potential Trump presidency. Similarly, Katrina Paglia, Pantera’s legal head, also foresees fewer enforcement actions and more settlements without major admissions of wrongdoing in the future.

ETF Momentum Drives Optimism as Token Outshines Rivals

A significant factor driving the increase in XRP’s value is the growing excitement about potential XRP Exchange-Traded Funds (ETFs). Although U.S. firms such as Bitwise and Canary Capital are still waiting for the SEC to approve spot XRP ETFs, Europe has taken the lead in this area.

As an analyst, I’m excited to announce that on Thursday, I observed the launch of a physical XRP Exchange Traded Product (ETP), named XRPW, by asset manager WisdomTree in Europe. This new offering, as claimed by the issuer, could potentially be Europe’s most cost-effective XRP ETP available in the market.

At present, Ripple’s legal battle with the SEC is delaying the authorization of comparable ETFs within the U.S. Nonetheless, experts anticipate that such approval, once granted, could serve as a catalyst for XRP to surpass the $2 price point.

Despite everything, XRP’s recent growth has been truly outstanding. In 2024 alone, its value has surged by an impressive 138%, surpassing Ethereum and even holding its ground against Bitcoin. After spending a long time in the $0.5 and $0.6 range, it’s clear that XRP is on an upward trajectory now.

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2024-11-22 12:36