After much scrutiny and speculation, SEC chair Gary Gensler is all set to finally step down from his position as the US SEC chair. This has brought forth a new wave of change within the cryptocurrency sector as Gensler exits from the current domain. The transformation mainly comprises a celebratory wave, as Gensler can be touted as a skeptic when it comes to the realm of cryptocurrencies in general. The overall market is currently green, with Bitcoin treading close to hitting $100K, but above all, will Ripple (XRP) be able to manage a new ATH now that Gensler is out of the picture?
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Ripple To Hit An All-Time High Now?
Gary Gensler has decided to step down from his position at the US SEC. As the Trump regime took over the White House, the president-elect’s agenda included removing Gensler from the highly esteemed position of US SEC chair. With Gensler moving away from the highly esteemed position, the cryptocurrency market has responded positively to this development, with Bitcoin claiming its highest ATH of $99K.
The Gensler regime was particularly noted for accusing XRP of being a security, giving the cryptocurrency a hard time managing its affairs. The token fought a fierce legal battle with the SEC to clear its name and had recently claimed victory. Now that Gensler is out of the picture, XRP is expected to score new highs.
Per Egrag Crypto, XRP’s breakout zone was near $1.2. The expert shared how a major bull rally may occur if the token is able to hold support at $1.2, which may later catapult XRP to climb high and even hit $10.
“#XRPFamily #Reposting from May 3, 2023. Which triangle will unfold? . 1. White Symmetrical Triangle: $27. 2. Blue Ascending Triangle: $10. Remember my post from May 2023? I mentioned that $1.2 is a crucial level. If we break it, we’re set to soar! Otherwise, a major retest may be on the horizon. #XRPFamily STAY STEADY AND STRONG! ”
#XRPFamily 💙 #Reposting from May 3, 2023
Which triangle will unfold? 🤔
1️⃣ White Symmetrical Triangle: $27
2️⃣ Blue Ascending Triangle: $10Remember my post from May 2023? I mentioned that $1.2 is a crucial level. If we break it, we're set to soar! Otherwise, a major retest may… https://t.co/akDx2tYsUa
— EGRAG CRYPTO (@egragcrypto) November 21, 2024
At the same time, Gensler’s exit may finally usher in an era of change for XRP, which may seamlessly support its future development, such as the launch of XRP ETFs and Ripple IPOs.
Now that Gary has announced his resignation, we can expect a lot of developments surrounding Ripple & XRP:
🔹 The appeal settled with new administration, or even dropped perhaps.
🔹 XRP ETFs approved.
🔹 Ripple IPO.
🔹 RLUSD should be launched anytime (even though it’s…
— Anders 🏁🌏 (@X__Anderson) November 21, 2024
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AI Predicts The Token’s Price Now That Gensler Has Resigned
If the SEC manages to withdraw its appeal against Ripple, then XRP can go as high as $1.5 to $3. The AI also shared how major market change and momentum, with Bitcoin hitting new highs in tandem with XRP ecosystem expansion, can even push the token to claim the ambitious $10-$30.
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