The recent announcement of US SEC Chair Gary Gensler’s exit from office in January 2025 has boosted the crypto market sentiment, leading to hopes for a new pro-crypto regulator to replace him. Pro-XRP lawyer Jeremy Hogan has predicted the conclusion timeline for the Ripple SEC lawsuit, sparking discussions in the market.
Many market watchers anticipate that the ongoing SEC lawsuits will settle or conclude with Gensler’s exit. Hogan recently shared Gensler’s exit update, predicting that the Ripple vs. SEC lawsuit could conclude in the spring or early summer of 2025. This news has ignited discussions in the crypto market.
The Ripple SEC lawsuit is one of the longest-running crypto cases and has recently been extended with the US SEC’s move in the appellate court. This positive news for XRP has led to a recent rally in the cryptocurrency, with its price rising by nearly 27%. Trading volume has also increased, and the XRP Future Open Interest has risen more than 31%, indicating growing market confidence.
Top crypto market analyst CrediBULL Crypto has noted that XRP’s monthly RSI has entered the “overbought” territory for the first time in three years, suggesting a super bullish momentum for the cryptocurrency. The analyst has set a target of $2 in the coming days and predicts XRP to hit $3.3 in the long run.
Another renowned market expert, Ali Martinez, has also shared a similar forecast for XRP, setting a target of $2 and lauding Gary Gensler’s exit from the US SEC as the “best thing that could happen to Ripple.”
