Despite major market turbulence and elections just a week away, Ripple (XRP) whales firmly held their XRP tokens and successfully defended their prices to drop below key levels. The major hope for the Ripple community about a bullish comeback is the expected removal of SEC Chair Gary Gensler after the elections.
There are rising voices about removing Gary Gensler and implementing more crypto-friendly regulations. While Donald Trump has publicly pledged to remove Gensler, Kamala Haris is also of no good sentiments for the chairperson. With XRP’s price expected to reverse soon, this week can be crucial for reshaping the token’s trajectory.
Ripple Price Shows Resistance Against Rising Bears at $0.5
Ripple (XRP) has lost a major chunk of its market share in the last week. However, many whales are holding on to their XRP tokens, expecting a favorable trend after the elections. Despite a major weekly downside, Ripple has successfully defended the $0.50 support level and has bounced back to upper ranges in this price zone.
With Ripple Foundation’s association with Kamala Harris seemingly, Mark Cuban suggested in an interview that she could remove Gary Gensler, aligning with claims from some Republican candidates as she hates regulation through litigation”. The hopes are high, but the legal procedures might make XRP investors think of other alternative investments as well.
The Legal Roadblocks to Removing SEC Chair Gary Gensler
The removal of SEC Chair Gary Gensler is not as straightforward as Donald Trump pledged to his supporters of dismissing him on day one. The Supreme Court’s decision in Free Enterprise Fund v. PCAOB (2010) complicates the matter, highlighting that for-cause removal restrictions on SEC officials limit the President’s power to fire them directly.
Thus, any presidential effort to oust Gensler would face significant constitutional and legal hurdles. With this in view, Ripple investors must be cautious about their investments if Gary Gensler stays, as high market volatility and dropping community sentiment can dump XRP prices below the $0.4 level.
DTX Exchange: XRP Whales’ Top Alternative After $6.35M Presale
DTX Exchange (DTX) drives innovation in the tradFi sector, emerging as a promising alternative for many established cryptocurrencies. The hybrid trading model makes it a preferred choice for investors as it commits to solving inherent issues in both centralized and decentralized exchanges through surplus liquidity and KYC-free security protocols.
The platform enables traders to maximize their profits with 1000x leverage and advanced automation techniques. DTX Exchange includes real-time analytics with graphs and charts so traders can make informed decisions about their trades in 120k+ digital assets across diverse asset classes, including stocks, cryptos, forex, equities, and CFDs.
DTX Exchange’s hybrid blockchain has set this benchmark of success this year with a 10,000 TPS record. Moreover, the launch of other community-centric initiatives like the 3% VIP Rebate System, has attracted many investors toward the passive income strategies offered by DTX Exchange to increase engagement.
The $6.3 million batch 4 presale opens new doors of success for DTX Exchange, especially after CMC pre-listing. Traders are jumping to acquire DTX tokens early as experts predict a moonshot rally to $1 after its mainnet launch this quarter.
Conclusion
As the legal tug-of-war over SEC Chair Gary Gensler’s position casts uncertainty, Ripple (XRP) holders maintain their positions, yet many are turning to promising alternatives like DTX Exchange. The viral presale presents a millionaire-making opportunity for investors looking for potentially explosive returns this year after an exceptional presale performance. Whether regulatory changes favor other altcoins or not, DTX has the potential to yield prime returns once listed on CEXs and DEXs this Q4.
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