In one week, XRP achieved a 49% increase, the second best performance of the 10 most capitalized cryptos.
It is a cryptocurrency that is reborn from its ashes. XRP, Ripple's cryptocurrency, gained 15% in one day. At 1:30 p.m. this Friday, it is worth $0.82. A price that it had not reached since… March 2022. In one week, XRP achieved the second best performance of the 10 most capitalized cryptos on the market, with 49% increase behind the 88% increase dogecoin.
This increase is part of a context of upcoming upheaval in the American administration since the election of Donald Trump. Indeed, the latter has surrounded himself with numerous pro-crypto profiles to govern, like Elon Musk and maximalist bitcoiners. In this context, the position of Gary Gensler, current president of the Securities and Exchange Commission (SEC) – at war against the crypto ecosystem and in particular against XRP – is in the hot seat.
This Thursday, Gary Gensler published a letter suggesting his probable departure.
“It has been a great honor to serve (…) and ensure that our financial markets remain the best in the world,” we can read.
If his departure is not confirmed at this stage, it was interpreted as positive news for XRP users, causing this cryptocurrency to soar again.
SEC vs. XRP Battle
As a reminder, a legal case has been opposing since December 2020 the crypto company Ripple and the American stock market policeman. The SEC had sued Ripple, accusing it of having led a $1.3 billion unregistered securities offering with its native cryptocurrency, XRP.
In July 2023, the American justice system ruled, finding that XRP was not a “security” and therefore did not fall under the control of the SEC. But a month ago, the SEC created a twist, once again engaging in a battle against XRP.
Launched in 2012, XRP is the seventh most valuable cryptocurrency on the market, with $46 billion in capitalization. If the departure of Gary Gensler were to be confirmed, there is no doubt that this should benefit the crypto ecosystem.
