Bitcoin (BTC), Solana (SOL), and Ripple (XRP), the world’s first, fourth, and sixth largest cryptocurrencies, made shocking bullish price movements on Friday, hitting new historic highs after U.S. crypto-pessimistic Securities and Exchange Commission (SEC) Chairman Gary Gensler announced his upcoming departure from the agency.
BTC Eyes $100,000
BTC has been bullish since this month and has smashed set records to reach new all-time highs. Since November 5, the apex coin has moved from $75,000 to above $99,000 today, a whopping 32% price jump for the world’s leading crypto.
On average, bitcoin’s price has increased by approximately $1,333 daily over the past 18 days.
Many famous crypto analysts and investors have predicted that BTC will reach $100k by 2025. Notably, the leading crypto has sent shocking waves into the market. At the time of writing, it is less than $1,000 away from hitting six figures.
SOL Above $260
SOL, the native token of the Solana blockchain network, leaped past its previous all-time high of $259 on Thursday.
Driven by optimism of a spot Solana exchange-traded fund (ETF) coming soon, investors have pumped funds into the token, pushing its price to $264 per coin, a more than 10% increase within 24 hours.
The crypto community has expressed optimism about the ETF approval across the media, hoping that when Gensler steps down in January, and a crypto-friendly chairman takes over in January, it could speed up the evaluation process.
XRP Crosses $1.4
Joining the bullish trend is XRP, the native cryptocurrency of Ripple, a digital payment network. The token has flipped past Dogecoin to become the world’s sixth-largest cryptocurrency by market capitalization.
Following Gensler’s resignation, the coin soared by more than 25% to reach $1.42 on Thursday. The anti-crypto SEC chair has made it difficult for Ripple to operate freely within the U.S., as he has instigated a case against the firm.
Thus, Gensler’s resignation is a big win for Ripple as the community foresees a better future for XRP if a new SEC chair takes over.
Meanwhile, U.S. asset manager Bitwise filed for a spot XRP ETF two months ago and has not gotten any reply or update from the SEC.
