Controversial XRP has surged more than 10% in the past 24 hours. It hit a new 2024 high of $0.7734 early Thursday.
As of press time, XRP is the top 10 gainer, significantly outperforming other major cryptocurrencies.
The token experienced a double-digit surge amid rumors that SEC Chairman Gary Genser may resign tomorrow.
In his latest remarks prepared for a recent legislative session, Gensler said the cryptocurrency sector has lost ground. He also argued that “the vast majority” of cryptocurrency tokens do not have appropriate use cases.
He again stressed the importance of disclosing appropriate information to the public.
The SEC chief also said that several courts have agreed with the agency’s action to “Protect investors” by citing cases such as SEC v. Binance, SEC v. Coinbase, SEC v. Ripple Labs, and others.
At the same time, Gensler also recalled that Bitcoin and Ethereum ETFs were approved under his watch.
Is this the end?
The language of Genser’s final offer suggested he was close to resigning.
“I am proud to join my colleagues at the SEC who work to protect American families on the financial highway day in and day out,” he said as he concluded his remarks…
Legal expert and cryptographer John E Deaton thinks Gensler could end the operation as soon as Friday.
Although Gensler’s term ends in June 2025, he could resign in the near future.