thecryptobasic.com
Media personality Ben Armstrong, known as BitBoy, has recently shared his views on how the XRP price could react if Donald Trump fires the SEC Chairman Gary Gensler.
During his presidential campaign, the pro-crypto Trump stated that he would oust the infamous SEC chairman from his position on the first day of his presidency. Following the U.S. elections on Tuesday, Trump secured the presidential seat.
Interestingly, the crypto market is already feeling the significance of Trump’s victory. Bitcoin has surged, surpassing previous resistance levels and hitting new all-time highs. The leading cryptocurrency cracked the $75K mark early Wednesday morning and rose further by late evening, reaching $76,400 as crypto enthusiasts celebrated Trump’s win.
XRP price has also benefited from the bullish market, rallying to $0.5739 earlier today, its highest level in the past 30 days.
XRP Price to “Pump Hard” After Trump Fires SEC Chair Gensler
Notable community figures like Armstrong believe that the XRP price could increase significantly if Trump follows through on his promise to fire Gensler.
Many XRP holders blame the SEC chairman for hindering XRP’s potential during the 2021 bull run. They point to the lawsuit as a major factor that prevented XRP from reaching new all-time highs in the last bull market.
According to BitBoy, XRP has a strong chance of being among the top 100 crypto assets that could “pump hardest” in this cycle if Trump fires Gensler.
While XRP has already overcome the lawsuit and now enjoys a more favorable regulatory position in the U.S., it has underperformed this bull season compared to other cryptocurrencies.
For example, Solana and BNB have seen year-to-date gains of over 85%, while XRP has posted a negative growth of 10%. Many holders continue to speculate the event that could trigger an XRP price surge, with some pointing to Gensler’s sack as a potential catalyst.
However, it is not immediately clear how the SEC chairman’s dismissal would directly impact XRP, especially since the asset is no longer involved in the lawsuit and has already secured favorable regulatory clarity.
Meanwhile, BitBoy’s view that firing Gensler would help XRP soar was widely shared among notable market commentators. Some even suggested that this singular act could cause XRP to pump as violently as it did in 2017, when it experienced a 75,000% growth in one year.
Critics Disagree, Say XRP Pump Not Likely with Gensler’s Sack
However, others have expressed disagreement with this perspective. “That’s not happening. Sorry to burst that bubble, Ben,” said X user Erik Huisman. Huisman went on to suggest that BitBoy is merely giving his followers false hope about a substantial XRP price gain.
Meanwhile, some comments suggested that Gensler might voluntarily resign now that Trump has won to avoid the humiliation of a forced dismissal.