XRP Price Could Skyrocket if Trump Ousts SEC Chair Gary Gensler – Here’s How

Crypto analyst Ben Armstrong, known as BitBoy, predicts a significant price boost for XRP if President-elect Donald Trump follows through on a campaign promise to remove SEC Chair Gary Gensler. Trump’s pro-crypto stance has already sparked market excitement, with Bitcoin surging above $76,400 following his election. Meanwhile, XRP recently reached $0.5739, marking a 30-day high.

If he fires Gary Gensler $XRP might be the coin in the #crypto top 100 that pumps the hardest off of Trump's presidency.
— The BitBoy (@BenArmstrongsX) November 6, 2024

Why XRP’s Price Could Be Set for a Major Rally

BitBoy’s prediction centres on the long-standing SEC lawsuit that has impacted XRP’s growth, with many in the XRP community viewing Gensler as an obstacle. If Gensler is removed, Armstrong believes that XRP could finally achieve significant growth alongside top-performing cryptocurrencies. During the 2021 bull market, some XRP investors argued that the SEC’s actions hindered the token’s potential to hit new peaks. BitBoy sees Gensler’s departure as an opportunity for XRP to experience gains similar to its explosive 2017 bull run.

Skeptics Question XRP’s Surge Potential

Not all market experts share BitBoy’s optimism. Critics, including X user Erik Huisman, argue that Gensler’s departure may not substantially influence XRP’s price. Some claim that XRP has already adjusted to a more favourable regulatory environment since the lawsuit and that an additional catalyst may be unnecessary for growth.

Can XRP Recreate the 2017 Bull Market Rally After Trump’s Election?

With Trump’s presidency approaching, speculation around SEC Chair Gary Gensler’s future is intensifying. Some anticipate Gensler may step down voluntarily. The crypto community remains hopeful that Trump’s administration might introduce favourable policies for digital assets, especially through lighter regulatory measures. Many believe this change could ignite a significant XRP rally if Trump removes Gensler.

We are on twitter, follow us to connect with us :- @FXCryptoNews
— FXCryptoNews (@FXCryptoNews) December 14, 2023

Scepticism lingers regarding BitBoy’s forecast, with some questioning whether Gensler’s removal would trigger a substantial price increase. However, growing enthusiasm is seen within the crypto community, and all eyes are now on the SEC and its role under Trump’s administration.

With upcoming developments like IPOs and stablecoins planned for next year, some wonder if this is an ideal time to invest in XRP.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.