XRP Hits New 2024 High Amid Gensler Resignation Rumors
Analysis
Price Impact
HighThe news of gary gensler's potential resignation has created a positive sentiment in the xrp market, as it suggests a potential shift in regulatory approach towards cryptocurrencies. this could lead to reduced regulatory uncertainty and a more favorable environment for xrp.
Trustworthiness
MedWhile there are rumors suggesting gensler's resignation, there's no official confirmation yet. the situation remains speculative.
Price Direction
BullishThe news has triggered a significant price surge for xrp, pushing it to a new 2024 high. this indicates a strong positive response from the market to the potential regulatory change.
Time Effect
ShortThe impact of gensler's potential departure will likely play out in the short term, as the market reacts to the news and awaits further developments.
Original Article:
Article Content:
News Thu, 14/11/2024 - 19:24 Cover image via www.youtube.com Read U.TODAY on Google News The controversial XRP cryptocurrency has added more than 10% over the past 24 hours, hitting a new 2024 high of $0.7734 earlier this Thursday. At press time, XRP is the top gainer in the top 10, significantly outperforming other major cryptocurrencies. The token experienced a double-digit rally amid rumors that SEC Chair Gary Genser might resign tomorrow. HOT Stories XRP Hits New 2024 High Amid Gensler Resignation Rumors XRP Denies Death Cross as Price Suddenly Jumps 8% "Bitcoin Is Going Ballistic", Michael Saylor Says As BTC Holds Above $90,000 BTC Creator Satoshi Nakomoto Now 19th Richest Person in World: Report In his latest remarks that were prepared for a recent legal conference, Gensler stated that there had been "significant investor harm" in the cryptocurrency field. He has also argued that "the vast majority" of cryptocurrency tokens do not have proper use cases. Advertisement Once again, he stressed the importance of providing the public with proper disclosure. The SEC boss has also stated that various courts have agreed with the agency's actions to "protect investors," citing such cases as SEC v. Binance, SEC v. Coinbase, and SEC v. Ripple Labs. At the same time, Gensler also recalled that Bitcoin and Ethereum ETFs were approved under his watch. Is this the end? The language of Genser's final pitch suggests that his resignation is extremely close. "I’ve been proud to serve with my colleagues at the SEC who, day in and day out, work to protect American families on the highways of finance," he said while concluding his remarks. John E Deaton, a legal expert and crypto activist, believes that Gensler might call it quits as soon as this Friday . Even though Gensler's term is set to end in June 2025, he is expected to step down in the near future. #XRP Price Analysis #Gary Gensler