XRP Price Prediction: Will the SEC Chair Frontrunner Paul Atkins Help Push XRP to $1.5?

On November 21, Fox Business journalist Eleanor Terrett shared news of former SEC Commissioner Paul Atkins being the frontrunner for the agency's top spot.

Former SEC Commissioner Paul Atkins is reportedly the frontrunner to become the agency’s next Chair. If appointed, Atkins may reverse the SEC’s aggressive crypto enforcement approach.

Eleanor Terrett, a Fox Business journalist, shared the news on November 21. The journalist noted that Atkins being the frontrunner was according to two people familiar with the matter.

However, the Biden administration is yet to officially announce its pick for the SEC Chair role. Notably, the agency has been operating without a permanent Chair since April 2021.

Former SEC Office of Internet Enforcement Chief John Reed Stark shared his views on Atkins. According to Stark, if appointed, Atkins will likely reverse the SEC’s crypto enforcement efforts. However, he will probably do so cautiously.

Stark added that Atkins favors free markets and hates over-regulation, which should be a net-positive for the crypto verse. He also noted that Atkins believes SEC Enforcement can be too heavy-handed at times.

Other candidates in the running to become SEC Chair include Brad Bondi, who is Amicus Curiae attorney John E. Deaton’s pick. If chosen, Stark expects Bondi to order an immediate stop on all SEC crypto-related investigations. He will also instruct the litigation unit to stay, settle or dismiss all SEC crypto-related cases forthwith.

If the SEC withdraws its appeal, it could set the Programmatic Sales of XRP ruling as a precedent, boosting XRP demand.

XRP Price Action

On Thursday, XRP surged 12.98%, following a 0.25% gain on Wednesday. The ninth-ranked crypto closed the day at $1.2481.

XRP outperformed the broader crypto market, which gained 5.01%, taking the crypto market cap to $3.21 trillion.

Updates on Trump’s pick for SEC Chair and the agency’s appeal strategy will influence XRP price trends. A pro-crypto SEC Chair likely to withdraw the appeal against rulings in the Ripple case could push XRP toward $1.5. However, SEC plans to pursue its appeal may pull XRP below $1.