Trending cryptocurrency XRP has attained a new high for 2024 after surging by over 13% to trade at $0.77, according to on-chain data. At the time of writing, the Ripple-backed cryptocurrency is the top gainer among the top 10 cryptocurrencies. This development has excited the XRP community amid the rumored imminent resignation of Gary Gensler, the SEC chairman.
In a recent statement prepared for a legal conference, Gensler emphasized that crypto investors have experienced significant harm adding that most cryptocurrencies do not have actual use cases. Moreover, he stresses the importance of providing proper regulations for the crypto sector. Notably, the final line of Gensler’s speech sounded like he was leaving office soon. He said;
“I’ve been proud to serve with my colleagues at the SEC who, day in and day out, work to protect American families on the highways of finance.”
Source: X
Several industry experts have predicted that Gensler could quit his office by tomorrow. Although this is not confirmed yet, it has ignited excitement across the crypto community, with members flooding into the discussion and expressing how happy they would be if it happened. It is important to know, however, that Gensler still has about seven months left in his term, until June 2025, and might decide to remain till then.
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Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications such as Coinfomania and Crypto News Guru, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.