Feel Good Friday: XRP Pumps, Gary Gensler Resigns, and the Polymarket FBI Raid Raises Banana Republic Concerns

Alright, I'll bite; why is XRP going parabolic? Why is XRP Pumping while the rest of the market crabs? But first! Wow, what a week, huh?

Feel Good Friday is back again and this week we’re covering why XRP is pumping so hard, whether Gary Gensler has just resigned, and what’s going on with the FBI raid on Polymarket.

Alright, I’ll bite; why is XRP going parabolic? Why is XRP Pumping while the rest of the market crabs?

But first! Wow, what a week, huh? We’re at the point in the bull cycle where you should start thinking about what color your Bugatti should be.

Coinbase top 10 app in app store

All coins not close to their ATH’s

Bitcoin almost at $100k

Besides the Polymarket raid, things are looking spicy again for the crypto industry.

Today, we’ll get into that and more in this week’s edition of Feel Good Friday!

Why is XRP Price Pumping This Week?

Didn’t you hear? SEC Chair Gary Gensler is stepping down.

This ends four years of draconian crypto policy that have neither helped nor hurt anyone. Pointless.

🇺🇸 JUST IN: 18 US States are suing the SEC, accusing Gary Gensler of crypto overreach. pic.twitter.com/MpYrorqk7p

— Cointelegraph (@Cointelegraph) November 14, 2024

In the aftermath, Bitcoin and XRP are pumping the most out of other cryptocurrencies.

The good news is that if you aren’t on the receiving end of the pump, WE HAVEN’T even seen the start of the alt-season yet.

I know Bitcoin is the ONLY major coin breaking ATH (also SUI). Major alts and meme coin season begins after Bitcoin hits its top, which isn’t until later in 2025. If Trump instigates the golden electric bull run by establishing a BTC Strategic Reserve, it may extend into 2026.

Meanwhile, Ethereum is in a tight spot. Solana is taking the limelight. What ETH needs is a big-time Defi renaissance.

ETH is the vine; DeFi the grapes. There are plenty of newer vines with grapes to suck. The old vine needs to make a big marketing push for this new wave of investors, and the only way ETH is better is to reestablish itself as the more battle-tested and secure network. Can they do it? We’ll see.

Polymarket Raid is Proof America is a Banana Republic

An FBI raid on the home of Polymarket founder Shayne Coplan has stirred a storm of controversy and questions, centering scrutiny on the Justice Department under Biden.

Really, Joe? We thought you and Trump were good friends now!

This pre-dawn operation prompts queries about why a prediction market is in the crosshairs, especially amidst political tension. The raid’s official narrative ties to a criminal investigation into Polymarket potentially letting Americans bet on politics through VPNs, breaching terms with the Commodity Futures Trading Commission.

Though such a violation might warrant attention, the raid’s dramatic execution invites speculation on political agendas.

Polymarket showed strong support for Trump’s electoral ambitions. Though, at the end of the day, it is GAMBLERS making bets with THEIR MONEY. If they thought Trump would win, who cares?

Yet, with Palantir founder Peter Thiel, a well-known Trump confidant, behind them, suspicions of political bias naturally arise. Many point to what they see as uneven enforcement by Merrick Garland’s Justice Department. Notable episodes, like the FBI’s actions at Mar-a-Lago and the handling of Hunter Biden’s situation, fuel the fire of bias accusations.

The Polymarket incident adds another layer to these concerns.

EXPLORE: Tether Launches Hadron Platform for Simplified Asset Tokenization: Here Are 3 RWA Tokens You Should Be Eyeing

The Bitcoin Reserve: A Strategic Asset?

We are going to the BTC future.

By the way, we would always use blockchain and digital currency, but Trump’s vision is much better than the other version we would get under Kamala Harris.

Senator Cynthia Lummis, with her Bitcoin Act, is leading the charge. She aims for a strategic reserve to steady the economy during storms. As this concept picks up steam, the possible effects and hurdles demand attention.

JUST IN: 🇺🇸 Senator Cynthia Lummis says US Government #Bitcoin reserves can help strengthen the dollar. pic.twitter.com/bStedkKJ1x

— Watcher.Guru (@WatcherGuru) July 12,