- Gary Gensler’s resignation has sparked celebration across the crypto market.
- XRP has rallied over 66%, hitting new highs since 2021.
- Ripple’s legal battle and ETP launch have fueled optimism for further gains.
The crypto world rarely pauses, but Gary Gensler’s announcement of his resignation as SEC Chair has sent shockwaves across the industry. While the market cheers the end of what many describe as an era of overreach, XRP holders have the most to celebrate.
In the aftermath of Gensler’s departure announcement, Ripple’s token has surged past $1.40, reaching heights not seen since May 2021. But what does this really mean for Ripple and its long-standing legal battle with the SEC? The market dynamics suggest more than just a relief rally—it’s a renewed confidence in XRP’s long-term potential.
XRP Eyes $2 as Gensler’s SEC Legacy Crumbles
Gensler’s tenure as SEC Chair has been riddled with controversy, especially within the crypto sector. His focus on “regulation by enforcement” left a sour taste for many, including Ripple, which faced a lawsuit alleging XRP’s status as an unregistered security.
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While Ripple scored partial victories, the case remains in flux. “Gary Gensler leaving the SEC is the best thing that could happen to Ripple,” stated crypto analyst Ali Martinez, as he predicted XRP’s next price target to hit $2.
Investors see this as a sign of a possible reset in the SEC’s aggressive stance on crypto. Former SEC lawyer Marc Fagel, however, pointed out that Ripple’s court-determined violation limits its options for suing the agency for damages.
The optimism extends beyond legalities. Ripple’s legal clarity could attract institutional investors, especially as WisdomTree’s XRP ETP in Europe bolsters confidence in the asset’s utility. Market analysts highlight $1.96 as the next resistance level, with high trading volumes and record DEX activity supporting the rally.
XRP Leads Altcoin Surge as Bitcoin Stabilizes
It’s not just XRP basking in the glow of Gensler’s resignation. The altcoin market is enjoying a resurgence, with Solana and Cardano gaining alongside Ripple. Market redistribution from Bitcoin’s recent $98,000 rally has shifted focus, signaling an altcoin season on the horizon.
According to Santiment, social volume for altcoins has spiked as traders look to diversify. ADA, in particular, has mirrored XRP’s momentum, climbing 41% in the past week. This surge is fueled by a mix of bullish sentiment and renewed trust in the crypto ecosystem post-Gensler.
Meanwhile, Bitcoin consolidates around $95,000, acting as a stable foundation for the broader market. However, analysts warn that the altcoin rally’s longevity depends on Bitcoin maintaining its critical support levels. For now, the market’s eyes remain on XRP, which is leading the charge, emboldened by shifting regulatory tides.
On the Flipside
- Ripple’s ongoing SEC lawsuit is under appeal; outcomes remain uncertain.
- XRP’s RSI signals overbought conditions, raising correction risks.
- Market reliance on regulatory changes could backfire if expectations aren’t met.
Why This Matters
Gensler’s resignation marks a pivotal moment for crypto markets, especially XRP. It not only renews optimism for Ripple’s legal standing but also boosts investor confidence in altcoins. As institutions eye XRP’s utility and momentum builds around regulatory clarity, Ripple could pave the way for crypto’s integration into traditional finance.
To learn more about Ripple and Cardano’s teased moves and their potential impact on the crypto market, read here:
Ripple & Cardano Tease Major Move—Here’s What to Expect
Discover how XRP hit $1.26 amid SEC battles and a Trump-related market reaction and what this means for its future, here:
XRP Tags $1.26 Amid SEC Battle, Trump’s Win, and What’s Next
