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The XRP has shown remarkable growth over the past month and recently broke past the $1.6 mark, surging to levels unseen since April 2021. 

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Get the latest news and updates on Ripple (XRP), including in-depth analysis, price predictions, and market trends. Stay informed about major developments in the Ripple ecosystem, partnerships, regulatory changes, and technological advancements that impact XRP. Our comprehensive coverage helps you stay ahead of the market, understand the factors affecting XRP’s value, and make informed decisions. 

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The crypto’s ‘enemy number one’ will leave the role as the US Securities and Exchange Commission Chairman when Donald Trump officially takes office on January 20.

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XRP Surges 8% on the News of SEC’s Chair Gary Gensler Stepping Down

Legal expert Jeremy Hogan expects XRP ETF products to get a green light from the SEC in the summer of 2025, potentially opening a new era for Ripple. 

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Ripple’s XRP token enjoyed a 25% boost, buoyed by market optimism after the announcement of SEC Chair Gensler’s upcoming resignation. Today’s surge adds nicely to the previous gains of the altcoin, corresponding to the 180% monthly returns. The altcoin, however, remains around 50% below its all-time high of $3.30. 

Today’s surge is a continuation of a broader bullish momentum that has been building up since the US elections that saw Donald Trump return to the White House for the second term. Trump, one a crypto skeptic, emerged as the champion of the industry, vowing to make the US "the crypto capital of the planet" and establish a strategic reserve of bitcoin, a promise that is heating the crypto market in anticipation of his inauguration on January 20, 2025.

With Bitcoin on the verge of hitting the $100k mark, altcoins are in full force to the moon as well. On Friday, 

 set a new ATH above $263 but has since slipped to $256. Meanwhile, Ethereum’s open interest surged to the record high of $20.8 billion, surpassing its previous high of $17 billion in May.

As XRP had one of the most impressive crypto rallies over the last 24 hours, the momentum seems to be still there and going strong. Market indicators for XRP send a confident buy signal to traders, although the short-term correction is not out of the table. 

According to Coinglass, the open interest in XRP, similarly to Ethereum, has reached an all-time peak today at $2.61 billion, following the 26% surge over the last 24 hours.

Open interest is the total value of outstanding derivative contracts, such as futures and options, that are currently active and have not been settled yet. It is used as a key indicator of market sentiment. In the case of XRP, it seems that many traders are anticipating future price movements to capitalize on. With the long/short ratio of 0.9658, bulls and bears seem to be almost evenly matched, with a slight bias towards shorts hinting at the possibility of a correction. 

At the same time, today’s rally was merciless to short sellers. Over the last 24 hours, short positions worth $19 million were liquidated, outpassing long liquidations. 

While market sentiment for now enjoys bullish momentum, the looming possibility of a correction underscores the need for thorough risk management. However, the long-term outlook for XRP remains decidedly bullish. 

 for Ripple to reach an amicable settlement with the SEC, more asset managers are getting ready to bring XRP products to the stock market. The applications for spot XRP ETF filed by Bitwise and Canary Capital are expected to receive a green light from the SEC’s new chair. Meanwhile, global asset manager WisdomTree announced today the launch of a similar product for the EU market. WisdomTree Physical XRP ETP (XRPW) will be available on several European exchanges, including Deutsche Börse Xetra, SIX Swiss Exchange, and Euronext.

 believes that Gensler’s departure is the best thing that could happen to XRP, eyeing $2 as the next price target for the altcoin. 

, who suggested that XRP may set a new all-time high after tanning the $2 level. The analyst pointed out that XRP’s monthly RSI has entered overbought territory for the first time in months. In analyst’s opinion, a higher RSI indicates strong momentum and a bullish trend for a coin, absent any bearish divergencies. The trader opined that a slight pullback is to be expected on the way, but nothing major.  

Earlier, CrediBULL Crypto expressed his belief that XRP is going to outperform Bitcoin and Ethereum in this cycle, reaching new ATH much quicker than most expect.

As the position of the next SEC Chair is soon to become vacant, the names of several likely candidates have been floated around. Among the frontrunners is SEC commissioner Hester Peirce, whose support for the crypto industry has earned her the moniker “Crypto Mom.” Another pro-crypto SEC commissioner, Mark Uyeda, is also named as one of the candidates for the job. 

According to Reuters, former SEC commissioner Paul Atkins, CEO of consultancy Patomak Global Partners, and Willkie Farr & Gallagher law firm partner Robert Stebbins, who served as SEC general counsel during Trump's first administration, are among the top candidates as well. 

Finally, Robinhood CLO Dan Gallagher, reportedly a top contender to lead the reformed SEC, has recently bowed out of consideration for the role. 

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Gary Gensler, whose hard line on crypto has been a stuff for nightmares for both industry execs and ordinary bagholders alike, is gone at last—and bullish momentum is already in full force. 

XRP, which has been the subject of a heated legal dispute between its issuer Ripple and the SEC since December 2020, seems to be the biggest beneficiary of Gensler’s departure. The lawsuit, brought under the tenure of Trump’s nominee Jay Clayton and kept alive under Gensler, alleged that Ripple's sales of XRP constituted unregistered securities offerings and sought a $1 billion penalty for the company. 

Since then, Ripple has been entangled in a long and exhausting legal battle that cost the company more than $100 million, according to CLO Stuart Alderoty. In July 2023, Ripple scored a partial victory as Judge Analisa Torres ruled that XRP was not a security when sold to the public on the exchange, but could be classified as such when offered to institutional investors. The Judge also slashed the size of the penalty for Ripple from $1 billion to $125 million. 

In October 2023, the SEC dropped the lawsuit against Ripple co-founders Brad Garlinghouse and Chris Larsen but contested the sum of the penalty awarded by the judge. 

Now that the dreaded SEC Chair will be gone soon, Ripple’s tough battle with the agency may be nearing its end. Should this be the case, this would potentially clear the path for the 

 and Ripple’s IPO which was postponed due to the company’s legal troubles. 

Gensler’s departure was unequivocally interpreted by the market as a bullish signal, sending the price of XRP soaring 8% on Thursday. The newest boost 

 to the 50% gain over the last seven days and 120% growth over the past month.  

At the time of writing, XRP is trading at $1.26, its three-year-high last seen in September 2021. Yet some traders anticipate that an even more impressive bull run may be just around the corner. 

Crypto chart analyst and XRP bull Dark Defender on Twitter/X set the price target for XRP at $1.88 if the altcoin manages to break the small triangles of the bull flag pattern. 

Meanwhile, CrediBULL Crypto expressed confidence in XRP outperforming BTC and ETH in the near future, forecasting a new all-time high ‘quicker than most are expecting,’ In replies to the port, the trader added that $9 would be ‘epic.’

Gary Gensler will step down as the Chair of the SEC on January 20, when Trump will officially assume the presidency after the inauguration. During his campaign, Trump was transparent about his plans to fire Gensler from day one, much to the applause of the crypto community. 

While technically Gensler’s tenure should last until 2026, it’s common for agency officials to step down when the new administration takes the reigns. 

“I thank President Biden for entrusting me with this incredible responsibility. The SEC has met our mission and enforced the law without fear or favor,” Gensler said in a 

The announcement was celebrated with a champagne shower on Crypto Twitter, with many industry advocates reacting with memes and jokes. 

Ripple CEO Brad Garlinghouse ironically posted that Gensler’s departure is first on the list of the things he’s thankful for this Thanksgiving. 

Elon Musk also reacted to the announcement, asking Gensler if it was true that the SEC only works one day a month in the office. The tech mogul has repeatedly clashed with the SEC and recently became a powerful ally of Trump, who announced Musk as his pick to run the new agency called the Department of Government Efficiency, or D.O.G.E. 

Hayden Adams, the founder of the biggest decentralized exchange Unsiwap, reacted by sharing an X-Men gif captioned ‘Demon, be gone!’ With Gensler’s departure, Adams and Uniswap team can now breathe a sigh of relief: in April, SEC issued a Wells notice to the platform, indicating that the enforcement action may be underway.

Meanwhile, industry leaders are seeking a seat in the 

, which Trump has promised as a part of his crypto-friendly administration. The council is likely to be housed under the White House's National Economic Council and composed of the leading executives from the US crypto companies. According to Reuters, several spots have already been filled by representatives of venture capital firms, namely Paradigm and Andreessen Horowitz's crypto arm a16z. 

While many crypto execs are already eyeing ways to get their foot in the door of the White House, the seat of the SEC Chair remains vacant. Trump hasn’t yet officially announced his pick for the agency chief, but several contenders for the role have emerged.

One of them is Dan Gallagher, who served as the SEC attorney under Barack Obama and is currently a top lawyer at the stock and crypto trading app Robinhood. A frequent crypto conferences goer, Gallagher criticized Gensler’s approach to the digital assets industry and defended Robinhood’s crypto division against SEC’s Wells notice. 

Another possible pick for the role of SEC Chair is SEC commissioner Hester Peirce, a fierce defender of the crypto industry against Gensler’s hard line that earned her the moniker ‘Crypto Mom.’ The Republican SEC commissioner Mark Uyeda is also seen as a strong candidate for the job, as he was a known critic of the enforcement-driven regulation for crypto.  

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When the news first broke about SEC Chair Gary Gensler’s 

, the crypto market immediately turned abuzz with speculation about the future of crypto regulation in the United States. Although Trump’s pick for the new SEC Chair hasn’t been announced yet, most agree that the gloomy days of regulatory crackdown on crypto 

As the industry awaits the appointment of the new pro-crypto SEC Chair, some analysts believe that after the success of Bitcoin and Ether spot exchange-traded funds (ETFs), many similar products tracking the performance of top altcoins will get approval from the regulator. Once far-off propositions now have more chances than ever to become reality, so asset managers are now vying to offer altcoins ETFs for easy trading by Wall Street investors. 

So far, several fund companies have filed applications for Solana, HBAR, and XRP spot ETFs, with analyst 

 predicting that Cardano and Avalanche may be next in the line. Eric Balchunas, the senior ETF analyst for Bloomberg, even went as far as to 

 that Dogecoin ETF may secure a spot ETF as well, floating December 31 as a possible date for DOGE filing with the SEC.  

The imminent arrival of such products would unleash a wave of institutional capital into the ecosystems of the said altcoins, driving prices to new highs. According to John Deaton, a pro-Ripple attorney who unsuccessfully challenged Elizabeth Warren in the 2024 Senate race, a $100 billion market cap for XRP may be just around the corner. 

At its current price, XRP has a market cap of $81 billion, not too far away from unseating BNB for the fifth place. Given that the altcoin has nearly tripled in valuation in two weeks, jumping from $33 billion on November 10, adding another $20 billion doesn’t seem unrealistic at all. 

However, in a scenario where XRP secures the spot ETF approval, some analysts state that $100 billion is going to seem like rookie numbers. According to trader 

, a 2017-like rally could catapult XRP to the $9-10 levels, with a conservative target being $3-5. 

For reference, XRP at $9 would mean a market cap of approximately $500 billion, more than the one of Ethereum at the time of writing. However, before XRP reaches new highs, the market needs an answer to a trivial, yet pivotal question: wen XRP ETF?

So far, three asset managers—Bitwise, Canary Capital, and, most recently, 21Shares—have already 

 with the SEC to launch a spot fund that would track the price of XRP. Crypto asset manager Grayscale also recently announced the creation of XRP Trust, leaving the door open for the potential ETF transition after regulatory approval.

According to legal expert Jeremy Hogan, XRP ETFs may hit the market as soon as summer 2025, given that the average time for the SEC to greenlight the application takes between 6 and 12 months. The lawyer pointed out that the possibility of the SEC’s enforcement action was cited as one of the major risks in Bitwise’s XRP application, adding that the said part may have to be amended soon. 

In October, days before the US elections, Ripple CEO Brad Garlinghouse said in an interview that XRP ETF is “inevitable,” pointing out that the regulator had to cave in to Bitcoin and Ethereum ETFs, despite its apparent objection to the idea.  

Ripple CEO gives thumbs up to Trump’s Treasury Secretary pick

On Saturday, Trump announced that his long-anticipated pick for Treasury Secretary would be Scott Bessent, a billionaire hedge fund manager and top fundraiser to his campaign. Bessent, known for his high-profile bet against the British pound in 1992 when working for Democratic megadonor George Soros, is an advocate of deregulation and tax reform, which he believes will spur bank lending and reinvigorate the American economy.

Bessent holds a favorable view of Bitcoin, applauding its ability to cultivate "a market culture in the U.S." while making users believe in a "system that works for them." The official also expressed his excitement for Trump’s embrace of crypto, adding that the industry's ethos fits very well with the Republican Party.  

 the decision, calling Bessent the perfect pick for fostering innovation, especially in the crypto industry.  

A similar view was echoed by Anthony Scaramucci, who called Bessent a “great guy and a safe and stable pair of hands for the country.”

The search for the next SEC Chair continues 

Now that the president’s pick for Treasury Secretary is known, the public attention has shifted to who will lead the SEC under the new administration. According to 

 of Fox Business, it’s just a matter of time before Trump fills other regulatory financial positions, including SEC chair, CFTC chair, and NEC director. 

For now, the top contenders for the role are former SEC commissioner Paul Atkins, a white-collar defense lawyer Brad Bondi, and Trump’s former OCC Acting Director Brian Brooks. Acting SEC commissioners Hester Peirce and Mark Uyeda are floated as potential candidates as well. 

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