Gary Gensler, Chairman of the U.S. Securities and Exchange Commission, will step down in January 2025. This decision follows Donald Trump's election victory, with anticipated changes in regulatory expectations.
Gary Gensler's Resignation
Gary Gensler's resignation as SEC Chairman has sparked discussions within the crypto community, particularly among XRP holders. His stringent regulatory policies, especially in the lawsuit against Ripple, have significantly impacted XRP's price.
Regulation and XRP
XRP's price fell from $3.80 to $0.50 during the SEC lawsuit but rebounded to $3.38 after Trump's victory. Further regulatory changes and leadership transitions are expected to influence the market. Analysts point to support levels around $2.80-$2.90, suggesting a potential correction to $3.30 before a rally.
XRP's Future and ETF
Discussions about an XRP-based ETF are gaining traction. JPMorgan analysts estimate that such an ETF could attract $4-$8 million in its first year, positively impacting XRP's value.
As the SEC leadership transition nears and the possibility of an XRP ETF looms, investors are hopeful for XRP's growth. However, short-term market fluctuations are expected, and attention to future leadership changes is advised.
