- The XRP community is optimistic that Donald Trump’s re-election will lead to a more favorable regulatory environment for cryptocurrencies, potentially facilitating the approval of an XRP ETF and resolving the ongoing SEC lawsuit.
- Ripple CEO Brad Garlinghouse advocates for immediate reforms, including the removal of SEC Chair Gary Gensler, aiming to bring clarity to XRP’s regulatory status under a new administration.
After Donald Trump’s re-election as U.S. President, the XRP community has high expectations that his administration will support a more favorable regulatory stance on digital assets. Therefore, a question arises from CNF’s previous update on the XRP bull case: How could a Trump presidency boost Ripple’s future?
Ripple CEO Brad Garlinghouse took to social media (X) to congratulate Trump and outline a “first 100-day checklist” for crypto-focused reforms, urging the immediate removal of SEC Chair Gary Gensler and proposing crypto advocates like Christopher Giancarlo or Brian Brooks as potential replacements.
.@realDonaldTrump, Congratulations!
Some fodder for your first 100-day checklist to get things moving:
– Fire Gensler. Day 1, no delays.
– In his place, appoint Giancarlo, Brooks, or Gallagher – they’d be massive upgrades in rebuilding the rule of law (and reputation) at the…— Brad Garlinghouse (@bgarlinghouse) November 6, 2024
Garlinghouse also emphasized that, under new leadership, the SEC could finally bring clarity on XRP’s status, with investors hoping that an XRP spot ETF may also gain approval if regulatory views shift favorably.
Ripple vs. SEC Case Awaits Potential Trump-Era Resolution
In addition to that, Trump’s previous promises to make the U.S. a “crypto capital” have led the XRP community to anticipate significant regulatory changes under his administration. He has repeatedly criticized Gensler’s hardline stance, which has led to multiple lawsuits against crypto firms, including Ripple’s four-year legal battle with the SEC over unregistered XRP sales.
Therefore, with Trump’s presidency poised to introduce a crypto-friendly framework, the XRP community is optimistic about seeing an end to the Ripple lawsuit and the approval of ETFs for XRP and other tokens. However, final actions may still depend on the new SEC Chair’s stance and potential administrative delays until Trump takes office in January.
According to Coin Market Cap, Ripple (XRP) is currently trading, climbing 6.19% in the past day and 8.41% in the past week to reach its current price of $0.5661.
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