Why is XRP Pumping? Did Gensler Just Resign?

Jump into Feel Good Friday and discover why XRP is pumping. Has Gary Gensler just resigned? What’s going on with the Polymarket FBI raid?

Alright, I’ll bite; why is XRP going parabolic? Why is XRP Pumping while the rest of the market crabs?

But first! Wow, what a week, huh? We’re at the point in the bull cycle where you should start thinking about what color your Bugatti should be.

Coinbase top 10 app in app storeAll coins not close to their ATH’sBitcoin almost at $100k

Besides the Polymarket raid, things are looking spicy again for the crypto industry.

Today, we’ll get into that and more in this week’s edition of Feel Good Friday!

Why is XRP Price Pumping This Week?

Didn’t you hear? SEC Chair Gary Gensler is stepping down.

This ends four years of draconian crypto policy that have neither helped nor hurt anyone. Pointless.

🇺🇸 JUST IN: 18 US States are suing the SEC, accusing Gary Gensler of crypto overreach. pic.twitter.com/MpYrorqk7p

— Cointelegraph (@Cointelegraph) November 14, 2024

In the aftermath, Bitcoin

and XRP

are pumping the most out of other cryptocurrencies.

The good news is that if you aren’t on the receiving end of the pump, WE HAVEN’T even seen the start of the alt-season yet.

I know Bitcoin is the ONLY coin-breaking ATH (also SUI). Major alts and meme coin season begins after Bitcoin hits its top, which isn’t until later in 2025. If Trump instigates the golden electric bull run by establishing a BTC Strategic Reserve, it may extend into 2026.

Meanwhile, Ethereum is in a tight spot. Solana is taking the limelight. What ETH needs is a big-time Defi renaissance.

ETH is the vine; DeFi the grapes. There are plenty of newer vines with grapes to suck. The old vine needs to make a big marketing push for this new wave of investors, and the only way ETH is better is to reestablish itself as the more battle-tested and secure network. Can they do it? We’ll see.

DISCOVER: $BEST Token Shatters $250K Milestone: Don’t Miss Hottest Web3 Wallet Launch of 2024

Polymarket Raid is Proof America is a Banana Republic

An FBI raid on the home of Polymarket founder Shayne Coplan has stirred a storm of controversy and questions, centering scrutiny on the Justice Department under Biden.

Really, Joe? We thought you and Trump were good friends now!

This pre-dawn operation prompts queries about why a prediction market is in the crosshairs, especially amidst political tension. The raid’s official narrative ties to a criminal investigation into Polymarket potentially letting Americans bet on politics through VPNs, breaching terms with the Commodity Futures Trading Commission.

Though such a violation might warrant attention, the raid’s dramatic execution invites speculation on political agendas.

Polymarket showed strong support for Trump’s electoral ambitions. Though, at the end of the day, it is GAMBLERS making bets with THEIR MONEY. If they thought Trump would win, who cares?

Yet, with Palantir founder Peter Thiel, a well-known Trump confidant, behind them, suspicions of political bias naturally arise. Many point to what they see as uneven enforcement by Merrick Garland’s Justice Department. Notable episodes, like the FBI’s actions at Mar-a-Lago and the handling of Hunter Biden’s situation, fuel the fire of bias accusations.

The Polymarket incident adds another layer to these concerns.

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The Bitcoin Reserve: A Strategic Asset?

We are going to the BTC future.

By the way, we would always use blockchain and digital currency, but Trump’s vision is much better than the other version we would get under Kamala Harris.

Senator Cynthia Lummis, with her Bitcoin Act, is leading the charge. She aims for a strategic reserve to steady the economy during storms. As this concept picks up steam, the possible effects and hurdles demand attention.

JUST IN: 🇺🇸 Senator Cynthia Lummis says US Government #Bitcoin reserves can help strengthen the dollar. pic.twitter.com/bStedkKJ1x

— Watcher.Guru (@WatcherGuru) July 12, 2024

A US Bitcoin reserve would act similarly to the Strategic Petroleum Reserve, stepping in as a financial lifeline when the economy hits a snag. Stockpiling Bitcoin could enable Uncle Sam to dodge inflation and market swings, tapping into Bitcoin’s appeal as a decentralized, scarce asset. Advocates see Bitcoin mirroring gold’s ascent, casting it as a modern-day strategic asset.

Senator Cynthia Lummis champions this vision, stating, “WE ARE GOING TO BUILD A STRATEGIC BITCOIN RESERVE,” highlighting her commitment to integrating Bitcoin into national economic strategy.