XRP Surge After Gary Gensler’s Stepping Down Announcement

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XRP Surge After Gary Gensler's Stepping Down Announcement

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Table of Contents

  • SEC chair Gary Gensler announced his stepping down in January
  • XRP surged by 25% during 24 hours after this news, now at ~$1.42

Another twist in the long-running SEC vs. Ripple drama has occurred: SEC chair Gary Gensler announced his stepping down in January.

Since he was a key figure in the XRP standoff, the price jumped 25% to ~$1.46 within 24 hours and has now corrected to ~$1.42.

More About XRP Dynamics

The drama surrounding the SEC and XRP has been one of the most sensational in recent years, but it seems XRP is gaining the upper hand.

First Ripple won its case with the SEC, recently took away its 6th place in the top cryptocurrencies from DOGE again, showing a capitalization of ~$80B, and now Ripple’s key opponent is going into retirement in January.

Who will take his place remains probability, and the list of candidates is growing, as it was recently with Goody Guillén.

And yet, the news of the upcoming one has already added to the growth of XRP, which has shown good results before based on CoinGecko data, namely 30 days +168.6%, 7 days +60.9%.

And in the last 24 hours after Gary Gensler announced his stepping down in January, XRP price jumped 25% to ~$1.46, which is a record since April 2021.

However, XRP later encountered a correction and is now trading at ~$1.42, but there is a chance that this is just the beginning of good news that could support its price.

Conclusion

Ripple is a key player in Web3, and it is no coincidence that it ranks 6th among all cryptocurrencies. Therefore, economic and political decisions and their effects impact it most directly, so far favorable.

But the current state is highly fast-paced and dynamic, so be aware and stay tuned.

Disclaimer: The content provided in this article is for informational and educational purposes only and does not constitute financial, investment, or trading advice. Any actions you take based on the information provided are solely at your own risk. We are not responsible for any financial losses, damages, or consequences resulting from your use of this content. Always conduct your own research and consult a qualified financial advisor before making any investment decisions. Read more

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Alexandros

My name is Alexandros, and I am a staunch advocate of Web3 principles and technologies. I'm happy to contribute to educating people about what's happening in the crypto industry, especially the developments in blockchain technology that make it all possible, and how it affects global politics and regulation.

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