Ben “BitBoy” Armstrong recently shared his perspective on how the XRP price might react if Donald Trump follows through on his campaign promise to fire SEC Chairman Gary Gensler. According to Armstrong, if Trump were to take action against Gensler, XRP could experience significant price movement, potentially making it one of the hardest pumping assets among the top 100 cryptocurrencies.
Trump’s Victory Fuels Market Optimism
Trump’s recent victory in the U.S. presidential election has already had a notable impact on the cryptocurrency market. Bitcoin, the leading crypto asset, surged to new all-time highs, surpassing the $75K mark and continuing to rally. XRP, too, saw a positive price move, climbing to $0.5739, its highest point in the past month.
This upward momentum in the market has fueled speculation about what might further catalyze the next wave of price growth, especially for assets like XRP.
BitBoy’s Bold Prediction for XRP
BitBoy, a prominent voice in the crypto community, believes that Trump’s action on Gensler could act as a major catalyst for XRP. During Trump’s presidential campaign, he promised to remove Gary Gensler from his position on his first day in office. Many in the XRP community have blamed Gensler for the 2021 SEC lawsuit against the cryptocurrency, which they argue has hindered XRP’s potential to reach new all-time highs.
While XRP has since secured more favorable regulatory clarity, especially after overcoming the lawsuit, it has underperformed relative to other cryptocurrencies during the current bull market. For example, Solana and Binance Coin (BNB) have posted substantial year-to-date gains of over 85%, whereas XRP has seen a 10% decline.
According to BitBoy, if Trump follows through and fires Gensler, the regulatory environment for XRP could improve even further, potentially triggering a massive surge in its price. BitBoy emphasized that XRP could become one of the top-performing cryptos in the current cycle.
Potential for a Repeat of 2017?
Some analysts and community members have even speculated that the firing of Gensler could cause XRP to rally in a manner similar to its explosive performance in 2017, when the asset surged by 75,000% in a single year. This has led to growing anticipation about the potential for XRP to experience a similar type of “violent” rally if the regulatory pressure surrounding the asset is relieved.
Critics Question the Likely Impact
However, not everyone shares the same optimistic outlook. Critics argue that while Gensler’s firing might alleviate some concerns, it may not be enough to drive a significant XRP price pump. Some community members, like X user Erik Huisman, have expressed skepticism, suggesting that BitBoy’s predictions might be overly optimistic and could lead followers to falsely believe that a substantial price increase is imminent.
Huisman, in particular, pointed out that XRP is no longer involved in the lawsuit, and it already has regulatory clarity in the U.S. The belief that Gensler’s removal would create a dramatic price shift, therefore, seems unlikely to some critics.
What’s Next for XRP?
Despite differing opinions on the potential impact of Trump firing Gensler, the idea continues to generate discussion within the crypto community. While it’s unclear if Gensler’s removal would lead to an immediate XRP price surge, it is clear that the asset has already benefitted from improved regulatory standing and continues to play an important role in the evolving landscape of cryptocurrency regulations in the U.S.
As the market continues to react to political changes, XRP’s future performance could depend on a variety of factors—ranging from regulatory developments to broader market trends. For now, crypto enthusiasts are closely watching the political and regulatory climate, especially the actions of the newly elected president, to gauge where XRP might head next.
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