XRP News Today: Ripple Surges 25% as SEC Chair Speculation ...

On Saturday, November 16, Fox Business journalist Eleanor Terrett reported on the anticipated SEC overhaul, stating,

“While Donald Trump’s pick for SEC Chair chair remains unknown, it looks increasingly likely that Gary Gensler will step down voluntarily and choose not to finish his term as commissioner (which would expire in 2026) as some had speculated he may have done.”

Exiting the SEC in January could be pivotal as the agency must file its appeal-related opening brief by January 15, 2025. A pro-crypto agency head could withdraw the SEC’s appeal, in particular, against the Programmatic Sales of XRP ruling. A withdrawal of its appeal would set the Programmatic Sales ruling as a precedent for the US digital asset space.

On July 13, 2023, Judge Analisa Torres ruled that programmatic sales of XRP did not satisfy the third prong of the Howey Test.

On Saturday, speculation intensified over a potential Gary Gensler replacement. Former SEC Office of Internet Enforcement Chief John Reed Stark shared his views on potential SEC Chairs, stating,

“Kudos Eleanor Terrett, nice job on reporting the SEC Chair shortlist to us all – you are killing it as always. Atkins, Gallagher, Bondi, and Stebbins are all highly impressive choices for the SEC Chair.”