XRP price rises to 3-year high as optimism over SEC shake-up rises.

As Securities and Exchange Commission (SEC) Chairman Gary Gensler prepares to step down, the cryptocurrency targeted by his leadership is experiencing a significant upswing.

Mainly used by fintech company Ripple Labs, the price XRP It popped up Thursday, Gensler said. It was release President-elect Donald Trump stepped down from his leadership position at the agency when he took over the White House in January.

As of this writing, the price of XRP is 20% increased Earlier in the day, the asset hit its highest price since May 2021 at $1.49 earlier on Friday.

In the year While XRP has been one of the largest kriptovalyutnogo by market capitalization since its launch in 2013, the SEC accused the asset of being a security in its 2020 lawsuit. Although a federal judge has been since. Purchased The sign is “not necessarily a security on the face of it” and the feeling of regulatory uncertainty continues with the SEC. Interesting The decision.

Bitwise Senior Investment Strategist Juan Leon said Decrypt XRP's price jump is based on the expectation of a favorable regulatory environment under Trump. As the SEC has dragged Ripple Labs in court for years, a change in leadership may bring new opportunities, depending on whether the SEC decides to drop the four-year lawsuit.

“Ripple Labs and XRP have been in litigation with the SEC since 2020 by extension, which has been significantly delayed. [their associated] Business prospects,” he said. “Now, with Gensler on the way out and XRP's stablecoin in place, investors are receiving a clear roadmap for XRP to fulfill its mission as a B2B blockchain payment network.”

On election day, the price of XRP hovered around $0.50. Since Trump's election win, however, the value of the cryptocurrency has nearly tripled, making it one of the post-election winners.

Ripple CEO Brad Garlinghouse advised Trump's camp New York Times. The newspaper reported last week that Garlinghouse spoke to people close to the president-elect about personnel decisions under Trump's new administration.

Investors' access to XRP recently expanded in the United States earlier this month, as the SEC leadership change could lead to a more crypto-friendly regime, such as investment app Robinhood. Listed. Signal to trade on his platform.

Last month, Ripple's chief legal officer Stuart Alderotti He said he deserved it. to the Decrypt Gensler wanted to keep “a cloud of doubt hanging over the industry.” Still, he argued, the SEC's appeal would likely be unsuccessful, dispelling that cloud of doubt for good.

The SEC sought a $2 billion fine against Ripple over XRP sales, a federal judge said the company violated securities laws. ordered Ripple to pay a $125 million fine on XRP in August. The judge ruled that the sale of XRP to institutions violated securities laws, but not to programmatic ones that made it available to retail investors.

Self-proclaimed YouTube influencer and XRP investor Conor McGlaughlin Michael Markets A channel is specified to add encryption. Decrypt He believes the coin is rising as fears over the regulator's situation fade.

With the SEC case looking more fraught than ever, McGlaughlin—who has posted pro-XRP videos in recent days involving Gensler—sees new optimism among his fellow supporters.

“With the possibility of a favorable solution in the new administration and a crypto-friendly regulatory environment, confidence in XRP is growing,” he said. “The market is realizing this potential, driving current excitement and price progress.”

Edited by Andrew Hayward.