Summary
- It reported that the intraday surge in XRP (XRP) was due to news of former SEC commissioner Crenshaw's resignation.
- CoinDesk said Crenshaw's departure raised expectations for a shift toward a more crypto-friendly regulatory environment.
- It evaluated that the rise in XRP was driven by individual positive factors such as expectations for regulatory changes and ETF demand, rather than a broad recovery in market sentiment.
XRP spiked intraday, and analysts said the rally reflected the news of the resignation of former U.S. Securities and Exchange Commission (SEC) commissioner Caroline Crenshaw.
On the 3rd (Korean time), crypto-specialized outlet CoinDesk said, "XRP succeeded in breaking above $2 for the first time since mid-December," and analyzed, "Crenshaw's departure reflects expectations that the U.S. regulatory environment could shift in a more crypto-friendly direction."
Former commissioner Crenshaw had been skeptical of crypto assets even within the SEC. During her tenure she took a negative stance on approving spot crypto exchange-traded funds (ETFs), and she had supported the SEC's tough line in the Ripple-related lawsuit.
CoinDesk said, "On that day, Bitcoin (BTC) and Ethereum (ETH) did not show significant gains," and assessed, "This rise in XRP is a move based on individual positive factors such as expectations for regulatory changes and ETF demand rather than a broad recovery in investor sentiment in the crypto market."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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