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.
There’s growing speculation that the SEC is calling an emergency meeting regarding the Ripple settlement, with some reports linking it to mounting pressure from former President Donald Trump. It’s speculated that the resolution could happen before Gary Gensler steps down as SEC chair in January 2025. However, it’s important to note that none of this has been officially confirmed yet.
Settlement Rumors
Legal experts recently revealed that there is a possibility Ripple might settle for less than $125 million—a far cry from the $1.3 billion initially mentioned. Why now? Ripple’s recent legal wins have given them the upper hand, and the SEC might want to avoid a long, drawn-out trial that could set an industry precedent. XRP, meanwhile, has remained strong despite the lawsuit, continuing to play a significant role in cross-border payments.
What Does This Mean for XRP Holders?
A settlement could clarify whether XRP is a security or not. Experts predict XRP could see a price rally, potentially doubling or tripling after the settlement is announced. A Ripple win would also set a positive precedent for other cryptos under scrutiny, though the $125 million settlement cost is still significant.
This case could push Congress to speed up crypto legislation in the US. Meanwhile, regions like Japan and Singapore are taking a more crypto-friendly approach, and other countries might follow suit.
