XRP has recorded an impressive 46% increase over the past week, capturing the attention of the cryptocurrency market. This rally comes as speculations circulate about SEC Chair Gary Gensler potentially stepping down from his position. The speculation has sparked enthusiasm among investors, who see a possible leadership change at the SEC as a positive development for the crypto industry.
The speculation about Gensler’s resignation gained traction following his recent speech at a securities regulation conference. During his statement, Gensler urged that better rules be developed to safeguard investors, and he pointed to outrageous performances in the crypto space. SEC friends say his last words were understood as announcing the next move since he commended his colleagues, which he usually does before moving out of an organization.
Source: @36Crypto2
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Also Read: XRP Rockets to New Yearly High as Gensler Resignation Rumor Grows
Market Sentiment Is Bullish For XRP
The possibility of Gensler’s resignation has created optimism among crypto investors. Many investors believe a new SEC leadership could adopt a more lenient approach toward cryptocurrency regulations, often criticized as overly restrictive. Such optimism has given XRP a weekly rally as traders hope for changes in new regulations.
Despite the lack of confirmation regarding Gensler’s resignation, the market has responded strongly to the rumors. In a week, XRP has still been able to rise over most significant cryptocurrencies, while most have only exhibited limited volatility. The SEC and its leadership have garnered much attention from investors regarding how much influence it will recently have on digital asset regulation.
At the time of writing this, XRP is trading at $0.8201, marking a 15.1% rise in the last 24 hours alone. This strong performance cements XRP’s position as one of the standout digital assets in recent days.
Source: CoinMarketCap
Conclusion
XRP’s 46% weekly surge highlights the powerful influence of market sentiment and regulatory speculation on cryptocurrency prices. As the crypto community watches for updates on Gensler’s status, the outcome may shape investor confidence and the broader market trajectory in the near future.
Also Read: Breaking: XRP Rockets to New Yearly High as Gensler Resignation Rumor Grows
Maxwell Mutuma
Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. He writes extensively on topics such as blockchain, cryptocurrency, tokens, and more for top publications such as Coingape, Coin Edition, and The Coin Republic. His goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.