After months of Donald Trump nominating Paul Atkins for the SEC Chair role, the Senate committee has concluded their take. Although the banking committee has nominated him, complete senate voting is still pending. Despite that, the SEC’s update on the chair position brought significant bullish sentiments, influencing the XRP price surge.
US Senate Banking Committee Nominates Paul Atkins For SEC Chair
Paul Atkins has officially received the US Senate Banking Committee’s approval, with the 13-11 vote to advance him as the SEC Chair. Also, Jonathan Gould has been nominated to lead the Office of the Comptroller of the Currency (OCC), and both are due for the full Senate vote in the upcoming weeks.
If their role gets confirmed, they will play a significant role in shaping crypto regulation due to their positive crypto stance. The SEC pick’s impact on these regulatory roles has significantly affected the XRP price.
However, the Democrats strictly opposed the nomination, with Senator Elizabeth Warren leading the opposition. Critics attacked the nominated SEC chair for the deregulation before the 2008 financial crisis and showed concerns over his previous ties with the FTX exchange, which collapsed.
Previously, she opposed the nomination of David Sacks, the crypto and AI czar, resulting in Sacks selling his $200M crypto holding before joining the role.
XRP Price Soar Nearly 3% Today, What’s Next?
After the XRP price crash below the $2 mark, today marks a significant trend shift amid broader market recovery, Paul Atkins’ nomination for SEC Chair, and much more. With a nearly 3% surge in the last 24 hours, the Ripple token currently trades at $2.08 with a market capitalization of $121.36B.
However, the trading volume is down 29%, indicating bearish sentiments of the investors, but the XRP futures filing is influencing the uptrend. The popular crypto exchange Coinbase filed for XRP futures, XRPL on April 3, and set to go live on April 21, 2025, marking a significant bullish factor for the altcoin.
Earlier CoinGape reports revealed that the XRPL aims to enhance liquidity and institutional participation. This and upcoming U.S. crypto affairs may boost the Ripple price. Besides, the XRP ETF approval odds are high as investors anticipate a green light from the SEC this year.
These factors hint at a potential Ripple price uptrend with buyer dominance. However, the new Justin W. Keener filing in the XRP lawsuit generates mixed sentiments, coinciding with the SEC’s closed April 3 meeting. Meanwhile, the uncertainty lingers, and investors await SEC meeting updates to analyze XRP’s trajectory.
Will XRP Price Hit New ATH With Paul Atkin as SEC Chair?
The Ripple token’s price performance has been in a complete downtrend for several years before making a recovery with the Gary Gensler resignation from the SEC Chairperson role. That’s because Gansler and his crypto regulatory stance affected XRP consistently.
Experts believe a better approach and a crypto-friendly chair, like Paul Atkins, could significantly influence the price. Additionally, the XRP price predictions form the possibility of a further uptrend from here.
According to the crypto analyst, CRYPTOWZRD X post, more green candles from here could shift the Ripple token back to a symmetric triangle, eventually pushing its price to $2.80 before breaking out to $3.65.
Although this depends on various parameters, the XRP’s performance can rally with bullish stimulus like Atkins becoming the SEC Chair.
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