Will the SEC's new leadership kill the appeal?

• Gary Gensler is set to step down as SEC Chairman on January 20, clearing the way for new SEC leadership.
• Per Ripple's CEO, Trump's win is already having a positive impact on the company.

Ripple (XRP) has gained 15% annually to trade at $2.40 at press time. After these gains, the indicator is already higher than most cryptos, including Bitcoin (BTC).

XRP is poised for significant price movements this month due to several developments that could be good for its legal status.

Last October, the US Securities and Exchange Commission (SEC) filed a application in a four-year legal battle trying to clarify XRP's status as a security or commodity.

Although the appeal clouded XRP's outlook at the time, an upcoming shift in SEC leadership has renewed hope for a positive outcome.

Will Gensler's resignation affect the SEC case?

Current SEC Chairman Gary Gensler is expected to retire on January 20.

A runner name he left the regulatory body at the end of November, in a move that was seen as an end to the SEC's anti-crypto stance.

Trump already is selected former SEC Commissioner Paul Atkins as the next Chairman of the SEC. Atkin's hiring was well received by the crypto community.

Ripple CEO Brad Garlinghouse noted that,

“Bring common sense back to the group.”

This change in leadership could mark a turning point for XRP and possibly reinforce XRP's unsecured status.

The “Trump effect” is good for Ripple

According to Garlinghouse, Trump's election victory is already having a positive impact on Ripple.

In a recent X post (formerly Twitter), it is show up that Ripple, in the last six weeks of 2024, had signed more contracts than it did in the previous six months, noting that,

“2025 is here and the Trump bull market is real. For Ripple, this is even more personal after SEC Gensler froze our business opportunities here at home for years. ”

While responding to Garlinghouse's tweet, John Deaton was noted that Ripple's growth was a testament to the damage it had previously done to US businesses due to a lack of regulatory clarity.

Deaton noted that in addition to dealing with regulatory uncertainty, Ripple also suffered from government overreach and discretionary enforcement.

Is XRP Ready for Profits?

Ripple's legal battle with the SEC has hampered price performance over the years. However, with Trump's victory already going well for Ripple, the signal could gather once the new Chairman of the SEC takes office.

Additionally, positive developments in the SEC vs. Ripple case have been good for price in the past. Therefore, if the application is dropped, that could lead to another increase.