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Highlights
- Gary Gensler's resignation as SEC Chair raises investors' anticipation of the regulatory shift and XRP price rally.
- With Trump's victory, XRP price hit a seven-year high at $3.38 but entered consolidation today amid mixed investor sentiments.
- Experts still predict that the XRP price will rally to $20 in the long term, supported by Gensler's resignation and Ripple ETF approval.
The current U.S. Securities and Exchange Commission Chairman, Gary Gensler, will resign this January 20, 2025, marking an end to an era. Gensler has been active in the crypto industry, especially for its legal connection with the Ripple token through the SEC Vs Ripple case. With his resignation, investors anticipate a significant change in the XRP price performance, especially with the political and regulatory shift with soon-to-be 47th US President Donald Trump.
Gary Gensler Farewell Speech & What To Expect?
Gensler is the 33rd chairman of the US SEC. He began his tenure on April 17, 2021, and announced his resignation soon after Donald Trump’s win in the US election. Gensler will step down from the position on January 20 at 12:00 p.m. Notably, Trump has picked Paul Atkins as the SEC Chair candidate, but the senators voting will decide. Subject to sharing their public remarks, the Gary Gensler farewell speech might happen before the resignation.
Interestingly, even before this, Gensler thanked his peers and colleagues open-heartedly. To many, it already felt like a farewell speech. He recently shared a long thread post highlighting some SEC achievements under his guidance, such as taking on 2700 cases, returning $2.7B to the public, completing 46 rule finalizations, and much more.
I deeply believe in capital mkts, competition, & common-sense rules of the road that benefit investors & issuers alike. That’s why our staff & this agency play a critical role in overseeing the mkts & ensuring for compliance w/ US securities laws’ common-sense rules of the road.
The Farewell speech will present a similar discussion covering Gar Gensler’s journey. Experts believe he might again share his views on XRP and attribute it to Security.
Is Gensler’s Resignation The Push XRP Needs?
Ripple faced a massive downtrend with the SEC’s allegation that XRP is a security and has failed on many regulatory measures. At prime, this token value was $3.8 but declined to an average price of $0.5 under the constant SEC vs. Ripple battle, in which Gary Gnesler had a significant role. Surprisingly, things changed with Trump’s win in the US election, as the XRP price hit a 7-year high at $3.38. More importantly, the nearing Trump’s inauguration and Gary Gensler’s resignation significantly boosted investor sentiments. This recovery and investors’ hate with the current SEC Chair hints at the better performance of the Ripple token in Gensler’s absence.
Today marks Gensler’s last full day. Starting tomorrow, ‘Gary who?’ will be the only appropriate response if someone mentions his name. Onward, says Stuart Alderoty, Ripple Chief Legal Officer.
Moreover, Paul Atkins is in discussion for the SEC Chairman position, rising investor demand for better regulations. Next is the Ripple ETF approval, whose odds have increased to 66% on Polymarket. As JPMorgan added, the XRP ETF would bring around $4-$8M in inflows in the first year, price will likely boom.
XRP Price Targets $20, But With Consolidations
Due to his strict regulatory stance on the crypto market, crypto enthusiasts and XRP holders have waited for Gary Gensler’s resignation for years. Ever since the announcement in November 2024, the XRP price has constantly moved upward with investors’ enthusiasm. This week, the Ripple token created a seven-year high before consolidating significantly today. At present, XRP trades at $3.15 after a 6% price consolidation. This happened as the investor’s activity decreased with mixed sentiments in the market. However, in the broader market, the bullish trend is still visible.
Crypto analyst Andrew Griffiths’s Ripple prediction hints at the formation of consolidation, with the $2.80-$2.90 area being a potential trend reversal zone. According to him, Wave 3 (from Elliot’s wave theory) is near completion, with Wave 4 bringing the corrective phase. However, Griffith advises investors to wait on the market, as Wave 5 can resume the bullish trend, pushing the Ripple price back to $3.30.
In the long term, the XRP price might hit $20 with Ripple ETF approval and support of bullish factors.
Will XRP Price Hike With Gary Gensler Farewell?
Under the current conditions, the Ripple token will likely rise with Gary Gensler’s farewell speech. However, the outcome will mainly depend on investors’ sentiments. If the selling activity increases, random declines may happen. Market uncertainty is high during such macroeconomic events, especially as analysts’ earlier prediction shows Bitcoin price consolidation near Donald Trump’s inauguration. Regardless, the bullish outlook is consistent for the long-term phase, where the XRP can surge to $20 with Donald Trump’s presidency, ETF approval, and regulatory certainty.
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