Ripple’s XRP has seen a huge 32% increase in value in the past 24 hours due to the anticipation that the current United States Securities and Exchange Commission Chairman, Gary Gensler, will be stepping down early. This is because President-Elect Donald Trump has promised to fire him on his first day of presidency, which is January 20th, 2025.
The ongoing lawsuit between the SEC and Ripple also plays a part, and many believe that if Trump appoints a pro-crypto Chairman, it would be beneficial for the firm.
