XRP Price Prediction: Gensler's Possible Exit Sparks Optimism for Ripple

Recent speculation about SEC Chair Gary Gensler's potential resignation has sparked renewed hope among XRP investors. This could signal a shift in the SEC’s legal stance in its ongoing lawsuit against Ripple. In this article, we’ll explore how this news may impact XRP's price and future outlook.

Gensler's Possible Resignation Fuels XRP Rally

On November 14, 2024, SEC Chair Gary Gensler made waves with remarks that hinted at his possible resignation. In a speech at the Practicing Law Institute, Gensler reflected on his tenure and the SEC’s stance on crypto. He criticized his predecessor, Jay Clayton, for his anti-crypto policies and reaffirmed that, besides Bitcoin (BTC), other digital assets are securities.

While this speech drew mixed reactions, XRP investors took it as a positive sign. Following the announcement, XRP surged to $0.8478, its highest point since July 2023, boosted by the favorable ruling in the Ripple case.

Currently XRP Price trading at $0.82 as per Coinpedia Markets data.


For more in-depth analysis on XRP price and what to expect in the coming weeks, check out our full XRP price prediction article.

Impact of Gensler’s Exit on Ripple’s Case

If Gensler steps down, there’s speculation that the SEC might withdraw its appeal in the Ripple case. The SEC has until January 20, 2025, to file its appeal brief, which leaves a window for potential withdrawal. A new SEC Chair could take a different approach to the case, possibly ending the legal battle in Ripple’s favor.

However, Gensler could remain a Commissioner even if he resigns, continuing to influence SEC decisions. While his departure could ease regulatory pressure on Ripple, it might not eliminate legal challenges for XRP.

XRP Price Outlook: Will It Hit $1?

XRP’s price is closely tied to the outcome of the Ripple lawsuit. If the SEC withdraws its appeal, XRP could see significant price gains, potentially reaching $1. However, if the SEC continues its legal fight, XRP’s price might struggle.

Broader Market Trends Affect XRP

XRP is also impacted by broader market conditions. Rising U.S. producer prices (up 2.4% year-on-year) have reduced expectations for a Fed rate cut, which has dampened investor sentiment across the crypto market, including XRP. Bitcoin ETF inflows, which had been rising, may also slow as a result.

Key Takeaways for XRP Investors

  • Gensler's Potential Resignation: If Gensler steps down, the SEC may back off its appeal, which could drive XRP’s price higher.
  • Legal Uncertainty: While a Gensler exit could provide short-term relief, the legal outcome will ultimately determine XRP’s future.
  • Market Conditions: Broader economic trends, including inflation and Fed policy, will continue to influence XRP’s price.

While the news about Gensler’s resignation has provided a short-term boost to XRP, the outcome of the Ripple lawsuit and ongoing regulatory developments remain key to XRP’s price trajectory.

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