U.S. Rep. Guy Reschenthaler of Pennsylvania has invested $15,000 in $XRP , becoming the first sitting U.S. politician to acquire the cryptocurrency. His decision reflects expectations of more crypto-friendly policies under a potential Donald Trump presidency.

Meanwhile, Ripple is facing legal challenges. The U.S. Securities and Exchange Commission (SEC) denied the company’s request for more time to file an appeal in an ongoing lawsuit. Stuart Alderoty, Ripple’s chief legal officer, expressed frustration with the decision, interpreting it as a hindrance to innovation in the crypto space.

Despite the setbacks, the XRP market is showing resilience. Since Reschenthaler’s announcement, the token’s price has risen more than 20%, surpassing $2.83. Analysts note that large investors, known as “whales,” have significantly increased their XRP positions, indicating growing confidence in the cryptocurrency.

The possible departure of Gary Gensler as SEC chairman and the appointment of crypto advocate Paul Atkins are fueling speculation about a shift in regulatory stance. If this transition comes to fruition, it could benefit Ripple and the cryptocurrency market in general.

In short, the entry of a US politician into the XRP market, coupled with potential changes in SEC leadership, could signal a new era for Ripple and the crypto sector, despite ongoing legal challenges.

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