Ripple Labs is embracing a new chapter in its legal and regulatory journey as Gary Gensler, chair of the U.S. Securities and Exchange Commission (SEC), officially steps down this Friday. Gensler’s departure signals potential shifts in cryptocurrency regulation, igniting optimism among blockchain enthusiasts and XRP supporters.
Ripple’s Reaction to Gensler’s Exit
Ripple’s Chief Legal Officer, Stuart Alderoty, expressed relief at Gensler’s resignation, hinting at a fresh start. “Starting tomorrow, ‘Gary who?’ will be the only appropriate response if someone mentions his name. Onward,” Alderoty tweeted, signaling the company’s focus on moving beyond its ongoing legal battle with the SEC.
It has been the privilege of a lifetime to work for you as @SECGov Chair.
Over the last four years, we updated rules in our equity market & Treasury Markets, & shortened the settlement cycle. We returned more than $2.7B to harmed investors.
A quick look at the last four years: pic.twitter.com/gUBfaiURMx
— Gary Gensler (@GaryGensler) January 17, 2025
Gensler’s tenure, which began in 2021, was initially met with high expectations due to his blockchain expertise. However, his aggressive stance on crypto regulation led to lawsuits against major industry players, including Ripple. The SEC accused Ripple of selling unregistered securities via its XRP token, a case that has become a landmark for the crypto industry.
Trump Administration Sparks Optimism
The Trump administration is expected to ease regulatory pressures on the cryptocurrency sector. Reports suggest that Atkins plans to pause non-fraud-related enforcement actions and potentially approve new cryptocurrency exchange-traded funds (ETFs). Analysts estimate a 66% likelihood of an XRP ETF approval in 2025, which could attract over $8 billion in inflows.
https://twitter.com/JohnEDeaton1/status/1878968763640619175
Ripple CEO Brad Garlinghouse has reportedly been in discussions with the Trump administration, proposing innovative crypto initiatives, including a federal crypto reserve featuring XRP and Bitcoin. While Ripple has not confirmed these reports, the company’s proactive engagement reflects its strategic positioning for regulatory shifts.
XRP’s Recent Performance and Growth
Amid legal uncertainties, XRP has seen a remarkable surge, reaching $3.28 and approaching its 2018 all-time high of $3.40. Over the past week, XRP has gained 40%, supported by increased high-value transactions and new wallet creations. Analytics firm Santiment recorded over 2,300 transactions exceeding $100,000 in a single day, highlighting renewed investor interest.
Also read: XRP Price Prediction After Lawsuit: Will XRP skyrocket after Ripple& legal victory?
