Over the past couple of years, regulations have emerged as an essential part of the cryptocurrency ecosystem. While some of them are pertinent to the market, a few others have undoubtedly curbed its growth. The Securities and Exchange Commission (SEC) of the United States and its now-former Chair Gary Gensler are popular names in the industry. But for all the wrong reasons. Ripple’s XRP has been one of the most impacted assets under Gensler’s reign. This article dives into an investment opportunity and its result over the last couple of months.
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Gary Gensler’s Exit
The past couple of months have been extremely significant for the cryptocurrency market. With Donald Trump getting elected as the President of the United States, the cryptocurrency industry breathed a sigh of relief. The XRP community, in particular, was ecstatic. Gensler was appointed under Joe Biden to take over as the 33rd Chair of the SEC.
After Gensler confirmed his resignation on January 20, the community was celebrating this exit. The events of the last few months of 2024 shook the entire market. This caused the altcoin to rise from $0.51 on November 1 to a high of over $3.35. By January 30, 2025, XRP has increased by 492.16% overall from the beginning of November.
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Investing $1000 In XRP
Looking into the XRP market today, the asset has been struggling due to volatility. At the time of writing, the altcoin was trading at $2.42. Throughout the past seven days, the asset managed to pocket gains of about 2.39%.
An early-morning $1,000 investment would now be worth $1,023.73, but a late-morning investment would be worth $977.35. At the same time, people who made their investment on January 20 at a relatively bad moment and bought close to the day’s peak would now have $901.49. In addition, investors who were able to predict the election outcomes and their consequences on November 5 and purchased $1,000 worth of XRP would have registered returns of up to $5,921.57.
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