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Famous crypto enthusiast Max Avery comments on the transformative shift in the crypto industry, highlighting how suppression tactics against XRP are fading.
In a lengthy X thread, Avery claimed SEC Chair Gary Gensler’s actions against crypto aimed to delay the industry’s progress, not halting it. This is reflected in the numerous enforcement and regulatory actions against crypto businesses under Gensler’s leadership.
He suggested that Gensler’s actions bought some time for traditional financial institutions to prepare and position themselves in the market.
Ripple Verdict Destroyed Suppression Tactics Against XRP
Furthermore, Avery identified XRP as a disruptor in cross-border payment, portraying the asset as a threat to traditional financial systems. This made XRP a target of suppression, with the expert framing the Ripple lawsuit as a strategy to hinder its growth.
Interestingly, he mentioned the Ripple verdict, where the company secured a partial victory against the SEC. According to him, the victory helped to change the tide for XRP, ultimately destroying the suppression tactic against the token.
In addition, Avery mentioned Ripple’s focus on real-world utility, like cross-border settlement, as another factor keeping XRP afloat despite opposition pressure.
Expert Praises XRP Resilience
He indicated that XRP is positioned as a central player in the financial system’s evolution. Notably, he heaped more praises on XRP, describing the asset’s resilience in legal battles as remarkable. Per Avery, XRP is not just a token but a bridge to a new financial system.
With suppression gradually fading, the expert noted that investors who stuck to XRP during tough times are in perfect positions to benefit from the transformative shift, emphasizing that the next chapter of the crypto movement will focus on breaking barriers.
Amid the fading suppression, the pundit expects crypto innovation to surge, opening new opportunities for investors who persevered during uncertainty.
Investors Bullish on Crypto Potential Under Trump
Meanwhile, proponents have remained bullish on crypto potential under the forthcoming Donald Trump administration. Since Trump’s victory earlier this month, his transition team has nominated several pro-crypto individuals to fill top positions, like the Treasury and Health Secretaries.
The industry is now focused on who would replace the outgoing SEC Chair Gary Gensler. While it remains unclear who Trump intends to nominate for this position, several pro-crypto candidates are currently being considered for this role.
Leading American magazine WIRED reported recently that the transition team is engaging with top industry stakeholders to select a pro-crypto SEC chair.
With Gensler expected to leave the SEC on January 20 and the potential nomination of a pro-crypto chairperson, the Ripple lawsuit, which is currently in appeal, could become a thing of the past. Notably, former CFTC Chairman Chris Giancarlo predicted that the SEC would drop the lawsuit when Trump is inaugurated.
This speculation has resulted in a massive rally for XRP, with the token hitting a two-year high of $1.62 earlier this month. Currently, XRP is trading at $1.47, up 33.83% in the past seven days and 3.69% in the last 24 hours.