Anjali Belgaumkar

Gary Gensler, the Chair of the U.S. Securities and Exchange Commission, will step down on January 20 when President-elect Donald Trump's administration takes office. His tenure, which included conflicts with the crypto industry, will come to an end, the agency announced on Thursday.

Gary Gensler is officially stepping down as SEC Chair, and this has sent shockwaves through the crypto world, especially for XRP holders. His resignation, effective January 20, 2025, comes after years of tension between the SEC and Ripple over the XRP lawsuit. With Gensler out, many in the XRP community are celebrating, as they see it as the end of one of the biggest hurdles to XRP's success.

Big news today—Gary Gensler has announced his resignation, sharing a tweet and an article on the SEC's website, where he praised his own tenure. However, his self-congratulatory remarks have been met with criticism, as many believe his time at the SEC was marked by poor leadership and regulatory overreach. Critics have long accused Gensler of not acting in good faith, and his departure is seen by some as a much-needed change for the agency.

Ripple's XRP is up by more than 30 percent in the last 24 hours and is trading close to the $1.45 levels. SEC Chair Gary Gensler's resignation has sparked this massive rally and experts are now making predictions ranging between $5 and $10.

XRP has recently shown a strong and sustained upward price movement, up by more than 65 percent in the last seven days. XRP is currently trading above the crucial $1.50 mark and has gained almost nine percent in the last 24 hours.

Cardano price has gained more than 22 percent in the last 24 hours and is trading above the $1 level at the time of writing. Having surged by 44 percent in the past seven days, Cardano has experienced a major upward movement in price.

XRP has experienced a huge surge recently, and it's not alone. ADA and SOL are also seeing gains, with XRP leading the way. Ripple's community seems to be thriving, and the momentum is still strong. While some may think the top has been reached, the charts suggest otherwise, with both the hourly and daily charts showing sustained momentum.

Ripple's XRP is down by more than five percent in the last 24 hours and is trading above the $1.50 level. The cryptocurrency is up by more than 40 percent in the last seven days and is now trying to break the $1.70 levels. Ripple's XRP saw a massive surge after SEC Chairman Gary Gensler announced he will step down on January 20, 2025. This date aligns with the expected inauguration of Donald Trump as the 47th President.

President-elect Donald Trump has nominated Howard Lutnick, CEO of Cantor Fitzgerald, to be the next Secretary of Commerce. Lutnick, a Wall Street figure and a vocal supporter of Trump, is expected to play a key role in shaping the administration's economic agenda. He was also part of Trump's transition team and is well-known for leading Cantor Fitzgerald, a company he steered through the aftermath of the 9/11 attacks.

ADA has currently slipped into the red zone, but it is holding strong above the $1 level. Up by more than 50 percent in the last seven days, ADA is eyeing the important $2 level. Similarly, Ripple's XRP has also recorded impressive gains and is trading at $1.46 levels. Now, the question is which of these two altcoins will hit the $2 mark first.