XRP Soars, BTC Nears $100K as Gary Gensler Confirms SEC Exit

Ripple's Gensler will announce that he will resign next month.

Remittance token bitcoin rose more than 1% to $98,772 after previously hitting a new all-time high (ATH).

<img decoding="async" class="aligncenter" alt="Ripple CEO Garlinghouse Ousted from Citigroup Over crypto Ties – FinanceFeeds” src=”https://technicalterrence.com/wp-content/uploads/2024/11/XRP-Soars-BTC-Nears-100K-as-Gary-Gensler-Confirms-SEC.jpeg”/><img decoding="async" class="aligncenter" src="https://technicalterrence.com/wp-content/uploads/2024/11/XRP-Soars-BTC-Nears-100K-as-Gary-Gensler-Confirms-SEC.jpeg" alt="Ripple CEO Garlinghouse Ousted from Citigroup Over crypto Ties – FinanceFeeds”/>

Ripple CEO 'grateful' Gary Gensler is stepping down

This came after Gensler shared his resignation announcement in a Nov. 21 thread on presidency.

<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”7.3511450381679″>

On January 20, 2025, I will leave office as <a target="_blank" href="https://twitter.com/SECGov?ref_src=twsrc%5Etfw”>@SECGov Chair.

A thread

—Gary Gensler (@GaryGensler) <a target="_blank" href="https://twitter.com/GaryGensler/status/1859658192298574096?ref_src=twsrc%5Etfw”>November 21, 2024

“It has been the honor of my life to serve with them on behalf of everyday Americans and ensure that our capital markets remain the best in the world,” he said.

Brad Garlinghouse, CEO of Ripple <a target="_blank" href="https://x.com/bgarlinghouse/status/1859659691883983275″>retweeted Gensler's resignation thread on x, adding that he's “grateful” for Gensler's resignation this Thanksgiving.

This follows a multi-year lawsuit between Ripple Labs and the SEC over the security status of XRP.

bitcoin Nears $100K as Gensler Resignation Adds to crypto Euphoria

With Gensler leaving the SECOND and pro-crypto president-elect donald trump Upon reaching the White House the next year, cryptocurrency prices began to rise due to investor euphoria.

Market leader <a target="_blank" href="https://coinmarketcap.com/currencies/bitcoin/”>bitcoin set a new all-time high of $99,467.89 today. With the new peak, btc is less than $1,000 away from reaching the important milestone of $100,000.

Institutional investors are also rushing to buy bitcoin, with <a target="_blank" href="https://farside.co.uk/btc/”>data from Farside Investors showing that US bitcoin spot ETFs (exchange-traded funds) recorded over $1 billion in inflows yesterday.

BlackRock's IBIT maintained its dominance after more than $608 million flowed into the fund. Fidelity's FBTC came in second with its inflows of $301 million that day.

In addition to btc and XRP pumping, the cat-themed segment of the market was among the best performers with a pump of over 8%.

Mog Coin (MOG) led the gains of the largest cat-themed tokens by market cap, but it was a new meme coin by the name of CatSlap (SLAP) that stole the show.

Cat Slap Token It went viral on social media and has skyrocketed 1,756% in the last 24 hours.

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