Reports suggest that Gary Gensler, Chair of the US Securities and Exchange Commission (SEC), may step down before Donald Trump assumes office in January.

Speculation around Gensler’s resignation follows growing backlash from the crypto community against his leadership at the regulatory agency.

Gensler Could Resign SEC Role Before January

On November 15, Fox Business reporter Eleanor Terrett hinted that Gensler could announce his resignation shortly after Thanksgiving.

“It’s anyone’s guess when his resignation announcement will come, but chatter in DC circles is that he’ll likely announce after Thanksgiving his intention to exit in early January, ahead of Trump’s inauguration,” Terrett said.

Notably, recent remarks from Gensler himself add to the speculation. In a Nov. 14 speech, he expressed pride in his service at the SEC, calling attention to the agency’s efforts to protect American investors. Gensler’s speech also included reflections on his tenure and what some interpreted as a farewell message.

“I’ve been proud to serve with my colleagues at the SEC who, day in and day out, work to protect American families on the highways of finance,” Gensler wrote.

During his leadership, the SEC approved the first spot crypto exchange-traded funds (ETFs), which Gensler described as a significant step forward. He positioned this as a contrast to prior administrations that had blocked similar advancements.

However, his tenure has been marked by intense criticism from the crypto sector. Tyler Winklevoss, co-founder of Gemini, accused Gensler of harming the industry through a heavy-handed regulatory approach. Winklevoss argued that Gensler prioritized personal ambitions over fair regulation, describing his actions as damaging and deliberate.

Winklevoss warned the crypto community against associating with Gensler in the future, stating:

“No amount of apology can undo the damage he has done to our industry and our country. This type of person has no place at any institution, big or small. Americans have had enough of their tax dollars going towards a government that is supposed to protect them, but instead is wielded against them by politicians looking to advance their careers.”

Gensler’s SEC has pursued high-profile enforcement actions against major crypto firms, including Binance, Coinbase, and Ripple. Critics claim this enforcement-heavy strategy has stifled innovation and created an adversarial relationship between regulators and the industry.

Eyes on Gensler’s Successor

As speculation about Gensler’s resignation grows, attention has shifted to his potential replacement under Trump’s administration. Possible candidates include Robinhood’s Chief Legal Officer Dan Gallagher, former SEC General Counsel Bob Stebbins, and current Republican SEC Commissioner Mark Uyeda.

Although Gallagher appears reluctant to accept the role, former SEC Chair Jay Clayton has endorsed Stebbins. Other contenders reportedly include Brad Bondi, Paul Atkins, Heath Tarbert, and Norm Champ.

The next SEC Chair will inherit a divided regulatory landscape and face the challenge of repairing strained relations with the cryptocurrency sector. As the industry continues to evolve, the SEC’s approach under new leadership will play a crucial role in shaping the future of crypto in the United States.

Cardano (ADA) rally may be poised to continue following its impressive 65% price surge over the past week. This outlook stems from its historical performance and anticipated investor behavior.

Currently trading at $0.72 — its highest level since March — ADA could see further gains. This on-chain analysis reveals why this might happen, even though some analysts have called for a significant correction. 

History Suggests Cardano Breakout May Be Just Beginning

One key indicator suggesting this outlook is the Market Value to Realized Value (MVRV) ratio. The MVRV is a metric that compares the market value of a crypto asset to its realized value. This ratio identifies potential market tops and bottoms and offers insights into investors’ behaviors.

Typically, the higher the MVRV ratio, the higher the profitability of holders and their willingness to sell. However, when the ratio decreases, it means unrealized gains have reduced, and investors might not be inclined to liquidate their assets.

For ADA, the 30-day MVRV ratio is -7.27%, indicating that if all Cardano holders sell, the average return on investment could be a loss. Historically, when the ratio is at this level, it means that ADA’s price could continue to climb.

As seen below, it took an MVRV ratio of 55.56% for ADA to experience a correction in March. Therefore, if history repeats itself, Cardano’s price might rise much higher than $0.72 in the short term.

Furthermore, Robinhood’s relisting of the cryptocurrency suggests that demand for ADA might surge — particularly from the US. If that is the case, then the prediction of a higher value could become reality.

Also, the Historical In/Out of the Money (HIOM) metric, which assesses the difference in profitable addresses to gauge market momentum, supports this outlook. A decline in the metric indicates that more holders are out of the money, often discouraging new investments.

However, in Cardano’s case, the percentage of addresses in profit has risen, potentially encouraging sidelined investors to buy ADA in the short term. If this buying pressure materializes, it could drive the cryptocurrency’s value even higher.

ADA Price Prediction: 500% Hike in View?

On the weekly chart, the Cardano rally appears to be mirroring a trend from 2020–2021, during which ADA soared by 3,653%. This previous surge was triggered by a bullish crossover of the 20-week Exponential Moving Average (EMA) above the 50-week EMA.

During that period, ADA climbed from $0.061 to $2.29. Currently, the 20 EMA (blue) has just crossed above the 50 EMA (yellow), signaling renewed bullish momentum for the token. While a similar percentage rally may be unlikely, ADA could still see a substantial gain of up to 500% over the coming months if past performances influence future trends.

If that happens, ADA could rise to $2.03. This could also be accelerated by the rise in Bitcoin’s (BTC) price, especially as Cardano seems to have a strong correlation with it. However, if selling pressure intensifies, this might not happen. Instead, ADA could drop to $0.33.

Ripple’s (XRP) price has shattered a nearly three-year-long barrier, climbing to $1 for the first time since November 2021. The milestone comes amid renewed optimism in the cryptocurrency market, fueled by bullish sentiment following rising interest and demand for the token. 

With trading volumes spiking and investor confidence rebounding, the question now is whether XRP can sustain this momentum or if a correction is on the horizon.

The Ripple Token Breaks $1 Barrier After Almost Three Years

Earlier today, XRP’s price was $0.85. However, after a bullish engulfing candle appeared on the chart, the price spiked to $1.02, marking the first time the token had hit this level since the 2021 bull market.

This price increase coincides with the positive development around the altcoin since Donald Trump’s emergence as US president. But besides that, there have been several reasons why the Ripple native token has rallied to this point.

For instance, speculation around a potential XRP ETF has been gaining traction. Additionally, the altcoin experienced a significant uptick in institutional demand recently, coupled with its listing on Robinhood. These developments suggest rising interest in XRP within the U.S. market.

Furthermore, speculation that SEC Chair Gary Gensler, who has led the legal battles against Ripple, might resign has added to the momentum behind XRP’s surge. 

From an on-chain perspective, the increase in Open Interest (OI) appears to have been a significant driver of XRP’s momentum. Data from Coinglass shows that XRP’s OI surpassed $1 billion for the first time in August 2023 — after Ripple’s partial victory over the US SEC, highlighting heightened speculative activity around the token.

In terms of price movement, if OI continues to climb, XRP’s price could sustain its uptrend. This is because a high OI reflects increased liquidity in the derivatives market, which often fuels stronger price movements.

XRP Price Prediction: Overbought, But Rally May Go Ahead

XRP’s breakout began around November 5 when bulls vigorously defended the $0.50 support. Since then, XRP price has increased by over 100%. 

While the Relative Strength Index (RSI) on the 3-day chart shows that the XRP $1 price has entered overbought territory, bulls continue to push for further gains.

The Bull Bear Power (BBP) confirms this, as it measures the strength of bullish versus bearish forces. An increasing BBP shows that bulls are in control, while a decreasing BBP signals bearish dominance.

Currently, the BBP forms a large green histogram, indicating that bulls are driving the price higher. If this momentum holds, XRP could climb to $1.40. However, if sentiment shifts to the bearish side, the price may drop to $0.64.