Tag: XRP

XRP Rallies 15% as Speculation Grows Over Gary Gensler’s Exit

XRP price is pumping loads right now, as it just surged by 15% in 24 hours, hitting $0.8177, riding on SEC Chair Gary Gensler exit rumors and Trump’s pro-crypto vibes. Even add Société Générale’s stablecoin launch on XRP Ledger and its no shocker XRP is definitely dominating while Bitcoin and Ethereum lag a bit. Analysts are hyped for $1+ targets.

With a 15% increase in the last day, XRP, a native cryptocurrency from the XRP Ledger (XRPL), is rapidly gaining traction. It is now the best-performing asset among the top 100 cryptocurrencies, trading at $0.8177. As its seven-day gains reached 49%, a level not seen since July 2023, this rally kept getting stronger. The market sentiment seems to have positive insights in light of this news.

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This major factor for hype is all thanks to a rumor of big changes coming soon to the SEC. Talks are swirling all over that SEC boss Gary Gensler might step down, this especially came up after a note about his time in charge. With Trump also eying over a second term, the crypto world is completely hyped over a potential regulatory shake-up. They’re betting Gensler’s exit could mean the SEC drops its Ripple appeal and finally end that never-ending court drama.

Trump’s promise to fire Gary Gensler has sparked rumors across crypto community about him resigning earlier than expected. There’s also this buzz about Trump cutting crypto capital taxes which is fueling the hype even more. Société Générale’s euro stablecoin on XRP Ledger adds to the action.

While some of the big names like Bitcoin, Ethereum and Solona are facing minor dips, XRP’s breaking through everything and is sharply targeted towards $8 all thanks to this future market buzz.

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Ripple Insight: Legal Expert Weighs in on Kamala Harris’s Options for Selling Donated XRP to Cover Campaign Debts

President Trump made a joke about helping Kamala Harris with her $20M campaign debt by hinting at possibly selling out the donated XRP (Ripple’s crypto), only if the SEC drops its case against Ripple. A legal expert named Marc Fagel said Harris can actually legally sell her XRP without SEC hassle as she’s a retail holder and not some random issuer. If the SEC backs off, XRP’s price might surge, potentially helping her cover debts.

Newly elected President of United States, Donald Trump trolled Vice President Kamala Harris who is reportedly struggling in her presidential campaign. Trump offered a help regarding her reported $20 million debt, and this one involves XRP, the digital currency linked to Ripple.

Trump’s known for his sharp comments and playful humor, he made this offer to the GOP suggesting they “do whatever we can do to help them” with Harris’ outstanding campaign debt. This prompted a regular user to suggest that if Harris could sell some of her donated XRP (Ripple’s cryptocurrency), she might be able to cover a significant chunk of the debt. The main motive behind this is to drop all the SEC charges against Ripple and its XRP, which could result in enough rise of the token to help her pay off the full amount.

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Marc Fagel, a former SEC lawyer stepped in stating that any XRP sales would be exempt from SEC registration, provided they aren’t tied to the issuer (Ripple).  He further clarified that Harris was actually a  retail holder of XRP which means she would not need to worry about SEC regulations if she sold the token. The SEC’s focus is on Ripple as the issuer, so she wouldn’t face Ripple’s regulatory issues if she sold her XRP.

One of the Ripple’s co-founder Chris Larsen even donated $10 million worth of XRP to a fund to financially support Kamala Harris on her political efforts. This fund could helped her massively with campaign-related expenses.

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