The cryptocurrency market is experiencing a powerful rally as Ripple’s XRP token surges and Bitcoin (BTC) inches closer to the highly anticipated $100,000 milestone. This surge follows the official announcement by U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler that he will step down from his position on January 20, 2025—marking a pivotal moment for the digital asset industry.
XRP Jumps Over 24% Amid Regulatory Relief Sentiment
Ripple’s native token, XRP, saw a dramatic uptick of more than 24% in the past 24 hours, reaching a trading price of $1.38 as of early morning EST. The sharp rally coincides with growing optimism around regulatory clarity and reduced enforcement pressure under the current SEC leadership.
This momentum stems largely from Gensler’s resignation confirmation via a thread posted on X (formerly Twitter), where he stated:
"On January 20, 2025 I will be stepping down as @SECGov Chair."
While the departure is scheduled to align with the presidential transition, it has already triggered a wave of positive sentiment across the crypto ecosystem—especially among projects previously entangled in regulatory disputes.
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Ripple CEO Responds: “Thankful” for Gensler’s Departure
Ripple CEO Brad Garlinghouse publicly responded to Gensler’s announcement, retweeting the SEC chair’s farewell thread with a simple yet telling message: he’s “thankful” for the change—particularly fitting given the timing around Thanksgiving.
This sentiment reflects years of legal tension between Ripple Labs and the SEC, which began in December 2020 when the regulator filed a lawsuit alleging that XRP was an unregistered security. However, in a landmark ruling in July 2023, a federal judge determined that XRP is not a security when sold to retail investors—a partial victory that strengthened Ripple’s position.
With Gensler’s exit, many in the industry interpret this as a potential shift toward more balanced and innovation-friendly regulation under future leadership—fueling renewed confidence in tokens like XRP and broader blockchain adoption.
Bitcoin Breaks Into New Territory, Approaching $100K
As regulatory fears ease, Bitcoin—the flagship cryptocurrency—has also reached new heights. BTC climbed over 1%, hitting an all-time high (ATH) of $99,467.89 before settling at $98,772 at the time of writing. It now stands less than $1,300 away from the symbolic $100,000 threshold.
This surge isn’t driven solely by sentiment. Institutional demand continues to grow rapidly, evidenced by robust inflows into U.S. spot Bitcoin ETFs. According to data from Farside Investors, these ETFs recorded over $1 billion in net inflows in a single day.
BlackRock’s iShares Bitcoin Trust (IBIT) led the charge with more than $608 million in new investments, maintaining its dominance in the ETF space. Fidelity’s FBTC followed closely behind with $301 million in inflows—highlighting sustained institutional trust in Bitcoin as a long-term store of value.
Broader Market Rally: Meme Coins and Niche Sectors Shine
While BTC and XRP dominate headlines, other corners of the crypto market are also experiencing explosive growth. Notably, the so-called "cat-themed" tokens have seen impressive gains, with some assets rising over 8% in just 24 hours.
Mog Coin (MOG), one of the largest tokens in this niche category by market cap, posted strong performance—but it was CatSlap (SLAP) that stole the spotlight. The newly launched meme coin surged an astonishing 1,756% within a day, going viral across social media platforms and drawing attention from retail traders seeking high-risk, high-reward opportunities.
Such movements underscore how quickly narratives can shift in crypto markets, where community engagement and viral trends often drive short-term price action—even amid broader macro-level developments.
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Why This Moment Matters for Crypto Investors
The confluence of Gensler’s departure and the incoming administration’s historically pro-crypto stance—particularly under President-elect Donald Trump—has created a perfect storm of optimism.
Trump has previously advocated for a more supportive regulatory framework for digital assets and even floated the idea of establishing a dedicated crypto office within the White House. Combined with growing institutional adoption and technological maturation across blockchain networks, these factors are reinforcing bullish momentum across multiple asset classes.
Core keywords shaping this narrative include: Bitcoin price surge, XRP rally, Gary Gensler SEC exit, crypto market boom, Bitcoin ETF inflows, Ripple lawsuit, $100K Bitcoin, and institutional crypto adoption—all reflecting key search intents and trending topics.
Frequently Asked Questions
Q: Why did XRP surge after Gary Gensler's resignation announcement?
A: The surge was driven by market optimism that Gensler’s departure could lead to a more balanced regulatory approach toward cryptocurrencies, especially after Ripple’s prolonged legal battle with the SEC over XRP’s classification.
Q: Is Bitcoin really close to reaching $100,000?
A: Yes. Bitcoin hit a new all-time high of $99,467.89 recently and is now within approximately $1,300 of the $100K mark, supported by strong institutional demand and favorable regulatory expectations.
Q: What role do Bitcoin ETFs play in this rally?
A: Spot Bitcoin ETFs have become major conduits for institutional investment. Recent inflows exceeding $1 billion in a single day show growing confidence in Bitcoin as a legitimate asset class.
Q: Was XRP ruled a security by the court?
A: In a partial ruling, a U.S. federal judge determined that XRP is not a security when sold to retail investors on exchanges—a significant win for Ripple and implications for other token projects.
Q: Are meme coins like CatSlap safe investments?
A: Meme coins carry high volatility and risk due to speculative trading and lack of fundamentals. While some deliver rapid returns, they should be approached with caution and only as part of a diversified strategy.
Q: How might the new administration affect crypto regulation?
A: With pro-crypto statements from President-elect Trump and Gensler stepping down, there is anticipation for more innovation-supportive policies, potentially paving the way for clearer rules and expanded use cases.
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Final Outlook: A New Chapter for Digital Assets
The crypto landscape is undergoing a transformative phase. Regulatory headwinds appear to be easing, institutional participation is deepening, and retail interest remains strong—especially in high-potential narratives like decentralized finance, tokenized assets, and digital ownership.
As Bitcoin edges toward six figures and altcoins like XRP reassert their relevance, investors are advised to stay informed, diversify strategically, and leverage trusted platforms to manage risk effectively.
With momentum building across multiple fronts—from policy shifts to product innovation—the path forward looks increasingly bullish for those positioned to act wisely in this evolving ecosystem.