XRP (XRP) Surges 200% Amid Emergency Settlement Rumors and Pro-Crypto Treasury Head Appointment

The XRP community is abuzz with excitement as fresh rumors of a potential “emergency settlement” in Ripple's lawsuit with the SEC circulate.

Fresh rumors of a potential “emergency settlement” in Ripple's lawsuit with the SEC have surfaced, sparking excitement within the XRP community. Whispers of a behind-the-scenes resolution to the highly anticipated case have traders and investors on the edge of their seats.

Adding to the crypto market frenzy is SEC Chair Gary Gensler's unexpected announcement to step down from his position by January 20, 2025. As XRP's price surges and optimism runs high, could this be the turning point that Ripple enthusiasts have been waiting for?

Influencer BitBoy Addresses Ripple Settlement Rumors

Crypto influencer Ben Armstrong, known as BitBoy, recently addressed the swirling rumors about a possible settlement between Ripple and the SEC. In a YouTube video, BitBoy acknowledged the circulating claims but admitted, “I can't verify the claims, but I'll look into them further.” His comments have only served to intensify the buzz within the community.

The speculation stems from the SEC's closed-door meetings, where ongoing cases and injunctions are discussed. Notably, such a meeting occurred on November 21—the same day Gensler announced his resignation.

This coincidence has led many to believe that a settlement might be on the horizon. Former SEC attorney Marc Fagel weighed in on the matter, stating that while previous reports about Ripple settlement talks were unfounded, the latest rumors seem more credible.

He noted that any resolution would take time, especially with a new SEC Chair needing appointment and confirmation before major decisions are made. “We might not see clarity until important deadlines, like the January 15 brief filing, are reached,” Fagel explained.

The idea of a settlement has fueled a significant surge in XRP's price. The cryptocurrency has seen an almost 200% increase, reaching highs of $1.60 in recent days. Market experts are optimistic, with some suggesting that XRP could hit $2 soon, and potentially even $10 in the next bull run.

Trump Appoints Pro-Crypto Treasury Head, XRP Surges 60%

In another development that is sure to impact XRP, Ripple CEO Brad Garlinghouse shared some “good news” with the XRP community. Garlinghouse announced that Donald Trump has appointed a prominent hedge fund manager, known for his pro-crypto stance, to serve as the next Secretary of the Treasury.

“Trump just appointed a pro-cryptocurrency hedge fund manager as the next Secretary of the Treasury. Good news for crypto,” Garlinghouse tweeted, referring to Key Square Group founder Scott Bessent.

Adding another layer to the unfolding story, Ripple CEO Brad Garlinghouse shared what he called “good news” with the XRP community. Garlinghouse announced that Donald Trump has elected Scott Bessent, a prominent hedge fund manager known for his pro-crypto stance, to serve as the next Secretary of the Treasury.

“Scott Bessent is the perfect choice for pushing forward innovation and supporting cryptocurrency,” Garlinghouse tweeted. “He could be the most crypto-friendly Treasury Secretary the U.S. has had.”

Bessent's appointment has been met with enthusiasm from crypto enthusiasts. His background as the founder of Key Square Group and his experience working with George Soros position him as a strong advocate for cryptocurrencies.

With his pro-crypto stance, many believe Bessent could help shape policies that promote growth within the industry. The market reacted swiftly to the news. XRP's price surged by over 60%, reaching $1.56. Analysts believe that Bessent's appointment could signal the end of the long-running Ripple vs. SEC battle and open new doors for the industry.

A potential settlement with the SEC would remove a major cloud hanging over XRP, opening the door for widespread adoption and institutional investment. As Ripple's ecosystem evolves and regulatory clarity improves, XRP could be poised for substantial gains, potentially reaching new all-time highs.