Ripple’s XRP token rose 20% to $0.83 after SEC Chairman Gary Gensler hinted at his resignation.

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XRP rose 20% to $0.83 after Gary Gensler hinted at his resignation. The new SEC leadership may lead to dismissal of the lawsuit in favor of XRP and other tokens.

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XRP, Ripple's token, jumped roughly 20% to $0.83 after Gary Gensler hinted that he might step down as SEC chairman during a speech on Thursday.

According to data from CoinGecko, XRP rose above $0.83 – the highest level since July 2023, following a New York court ruling that the crypto asset was deemed unsafe when traded on exchanges.

XRP's market cap still lags behind Dogecoin, the meme token king. Since Donald Trump's re-election, Dogecoin's market value has risen over 110% along with Elon Musk, a big Trump supporter and prominent Dogecoin supporter.

The token and its developer Ripple Labs, led by Gensler, have been locked in a lengthy legal battle with the SEC, which could bring XRP back into the ranks of six major crypto assets, with the possibility of Gensler's release.

As Trump approaches his second term, members of the crypto community expect the president-elect to make good on his promise — fire the current SEC chairman on his first day in office.

According to reports, Trump's transition team has fielded several pro-crypto candidates for the commission's leadership role, including Dan Gallagher, chief legal officer of Robinhood Markets and a former SEC commissioner.

For SEC vs. What does Ripple charge mean?

If Gensler comes down and a brand new The chairman was appointed, which could lead to the dismissal of charges not related to fraud against crypto companies.

There is an assumption that it is under. brand new management, the SEC may be more interested in settling with Ripple than pursuing a protracted trial. The agreement may include financial penalties but will ultimately allow Ripple to continue operating without it The burden An ongoing dispute.

Consensus CEO Joe Lubin said he expects legal changes favorable to digital assets under Trump's presidency. Ongoing SEC cases against crypto companies may be “dismissed or resolved.”

If the SEC crypto cases are dismissed or settled under a Trump presidency, this could potentially benefit XRP, as well as many other altcoins targeted by the SEC, such as Solana (SOL) and Cardano (ADA).

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