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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/gary-genslers-resignation-boosts-market-sentiment-for-xrp/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Gary Gensler’s Resignation Boosts Market Sentiment for XRP</a><br></p>
<p style="text-align: justify">The resignation decision of Gary Gensler, the Chair of the United States Securities and Exchange Commission (<a href="https://en.coin-turk.com/bitcoin-etf-attracts-significant-investor-interest/" data-wpel-link="internal" rel="noopener noreferrer nofollow">SEC</a>), positively influenced the overall sentiment in the <a href="https://en.coin-turk.com/kamala-harris-dominates-debate-with-donald-trump/" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a><a href="https://en.coin-turk.com/key-developments-to-watch-in-the-first-week-of-january-2023/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> market. This development heightened expectations for a new crypto-friendly chair to take his place. During this period, attorney Jeremy Hogan sparked discussions in the market by predicting the timeline for the outcome of the case between Ripple and the SEC.</p>
<h2 id="timeline-for-the-xrp-case-conclusion">Timeline for the XRP Case Conclusion</h2>
<p style="text-align: justify">Gensler’s announcement of his departure from office in January 2025 triggered extensive debates in financial markets, particularly within the crypto sector. Market participants perceive Gensler as an anti-crypto regulator, believing he hindered innovations in the digital asset space.</p>
<p style="text-align: justify">Jeremy Hogan stated that the SEC’s case against Ripple could conclude by late spring or early summer. In his commentary, he emphasized: “I am thinking about spring next year — perhaps early summer.”</p>
<p style="text-align: justify">Hogan’s remarks created a positive atmosphere in the XRP market. The launch of the WisdomTree Physical XRP ETP on new exchanges raised the prospect of a potential XRP ETF in the American market. Major U.S. firms, Bitwise and Canary Capital, are still awaiting SEC approval for their XRP ETFs.</p>
<h2 id="what-s-next-for-xrp">What’s Next for XRP?</h2>
<p style="text-align: justify">Recently, XRP’s price experienced a significant increase of 27%, reaching $1.43. Its trading volume surged by 235%, hitting $22.29 billion. According to CoinGlass data, the open interest for XRP futures rose by over 31%, indicating growing market confidence in the cryptocurrency.</p>
<p style="text-align: justify">Prominent analyst CrediBULL Crypto noted that XRP’s monthly RSI has entered the “overbought” region for the first time in three years. The analyst projected a target of $2 for XRP in the short term and $3.3 in the long term.</p>
<p style="text-align: justify">Another expert, Ali Martinez, described Gensler’s departure from the SEC as one of the best developments for Ripple, expressing expectations for the XRP price to reach $2. Given the recent developments, XRP has the potential to gain more market support and rise in price with potential regulatory changes.</p>
<p>The post <a href="https://en.coin-turk.com/gary-genslers-resignation-boosts-market-sentiment-for-xrp/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Gary Gensler’s Resignation Boosts Market Sentiment for XRP</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Gary Gensler’s Resignation Boosts Market Sentiment for XRP

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