Gensler Resigns, Mark Uyeda Becomes New SEC Chair: What It Means for Ripple and XRP

Just a day before Donald Trump’s inauguration, Gary Gensler stepped down as Chairman of the Securities and Exchange Commission (SEC), fulfilling a promise he made after Trump’s election victory. Taking his place as interim chairman is Mark Uyeda, a pro-crypto Republican appointed by President Trump.

This leadership change could have significant implications for Ripple, which faced regulatory challenges under Gensler.

XRP Outshines Other Cryptos

In the past 30 days, XRP has surged by 36%, outperforming top cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Binance Coin (BNB), and Dogecoin (DOGE). Many XRP supporters believe this price momentum could gain further traction with the change at the SEC, as Ripple’s struggles under Gensler’s strict oversight have been well-documented.

What Gensler’s Exit Means

Gensler officially resigned the day Trump defeated Kamala Harris in the presidential election. His tenure was marked by a tough stance on cryptocurrencies, with Ripple often at the receiving end of his regulatory actions.

With Mark Uyeda now at the helm, known for opposing Gensler’s aggressive policies toward the crypto sector, there’s renewed optimism for Ripple’s future.

XRP’s Current Market Performance

XRP’s performance since November 2024 has been extraordinary. Starting at $0.5124 on November 5, it has climbed by 505.85%. Between November 5 and 30 alone, XRP rose 279.85%, trading between $2.0591 and $2.7263 by December 1.

The momentum continued into January, with an 18.23% single-day surge on January 15 pushing XRP out of its trading range. By January 16, the price reached a peak of $3.4021, before settling at $3.1013 — 9.69% below its high.

Momentum is Catching On!

Crypto whales have been accumulating XRP aggressively, purchasing at least 100 million tokens in the last 48 hours. Analysts highlight that XRP has experienced green days in 60% of the past month, pointing to strong bullish sentiment.

This has further boosted confidence among investors and traders.

Long-Term XRP Predictions

Technical analysts point out that XRP has recorded at least 60% green days in the last 30 days, highlighting the existence of a strong bullish trend in the XRP market. 

Emphasising the future potential of the XRP market, experts forecast that XRP could reach $4.33 by April 2025.

In conclusion, Ripple’s journey under a pro-crypto SEC could redefine its future. With bullish predictions and ETF hopes, XRP may soon achieve its long-awaited breakthrough.