XRP isn’t experiencing a surge despite speculation that Donald Trump might fire SEC Chair Gary Gensler if he wins the upcoming election. There are a few reasons for this subdued market reaction.
First, while Trump’s removal of Gensler could shift the SEC’s regulatory stance on crypto, any real impact would only begin in 2025 when the new administration would officially start. Additionally, there's no certainty that the new leadership would adopt a more favorable view of cryptocurrencies, though some investors are hopeful for a more innovation-friendly approach.
Another factor is ongoing uncertainty due to the SEC’s appeal in the Ripple case. Even with a potential change in administration, the appeal process could still affect XRP’s status in the interim, leading to some caution among investors.
So, while there’s anticipation around possible regulatory changes, it’s tempered by the longer timeline and legal uncertainties, keeping XRP’s price relatively stable for now.
