New SEC Chairman gives positive vibes to Ripple: will XRP price increase continue?
The price of XRP rose amid news that Elad Roisman was chairman of the United States Securities and Exchange Commission (SEC). Commissioner Hester Peirce announced the SEC Chairman’s change via Twitter on Christmas Eve.
New President Close To Crypto
In fact, not only XRP, but all cryptocurrencies have been on the rise since Elad Roisman became the new SEC Chairman. Because Roisman specifically called on the SEC in November 2018 to examine the rules with the advent of crypto assets and blockchain technology.
“The SEC should review and reassess the rules, regulations and guidelines of cryptos to ensure that they are operating as intended to life the SEC’s mission, ” Roisman said in a statement at the time. This is evident recently in areas such as data protection and cybersecurity, as well as the emergence of new investments and technologies such as ICOs and Blockchain., ”
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In fact, Roisman’s presidency, after Jay Clayton, felt like a drug to cryptocurrencies, so to speak. Because the SEC, headed by Clayton, recently sued Ripple and caused an earthquake in cryptocurrencies. After the SEC Ripple case, there were declines in all cryptos, especially XRP.
After Elad Roisman became the new chairman of the United States Securities and Exchange Commission, Ripple breathed a sigh of relief and began drawing bullish momentum. XRP fell sharply to $ 0.21 as news of the lawsuit emerged.
XRP, which was trading at $ 0.33 at the time of publication, has risen about 24 percent in the last 24 hours.
Will The Rise In XRP Continue?
Both because of the overall market rise and the fact that the SEC chairman is a close name for cryptocurrencies, XRP has risen and returned to levels where it launched its own rally at least in late November.
But the course of the case against Ripple and the statements that the new president will make will probably affect all cryptocurrencies, especially Ripple. For this reason, at the moment, we see that analysts have not made clear explanations.
But many believe the year will close with bullish charts unless there are very different developments. In addition, many important figures believe that 2021 will be the year of cryptocurrencies with the new SEC President.