XRP is up 50%. Did Changes in the SEC Cause This?

by in Cryptocurrency News

XRP price surges 12.25.2020

On December 24, authorities announced that the US Securities and Exchange Commission has a new chairman. Elad Roisman will replace Jay Clayton. Meanwhile, XRP saw price growth. Are these two events connected?

Related: SEC Submits a Claim Against Ripple

Well, Roisman considered being a possible ally for the crypto industry. The new chairman made comments on the cryptocurrency tradings in July 2018. He found it would be right for SEC to review its rules towards crypto assets and blockchain technology.

After the news went public, the third biggest crypto asset raised 50%, reaching $0.378.

Recall that on December 23 SEC filed a lawsuit against Ripple Labs, accusing the company of trading unregistered securities. After that, XRP had a 43 % decline.

Although the appointment of Elad Roisman was welcomed by the crypto community well, it's not clear yet if he will serve in this role long or no. For permanent replacement, he needs to get president Joe Biden's confirmation. US Senate will discuss the matter in January.