Mark Uyeda’s appointment as the new chairman of the Securities and Exchange Commission (SEC) marks a pivotal moment for the regulatory landscape of cryptocurrencies in the US. As Gary Gensler steps down,

Ripple (XRP) is up 5% on Monday after US President Donald Trump announced pro-crypto Mark Uyeda as the new acting Securities & Exchange Commission (SEC) Chair. The announcement follows increased buying activity across XRP spot market and investment products.

Near-term trends remain hinged on the SEC’s appeal strategy. If the agency pauses or withdraws its appeal in the Ripple case, XRP could break above its all-time high of $3.5505. Conversely, XRP could drop below $2.5 if the SEC pursues its appeal, challenging the Programmatic Sales ruling.

Uyeda will serve as the interim head of Wall Street’s top cop while Trump’s pick for permanent chair, Paul Atkins, waits to be confirmed by the Senate.

The White House has announced the appointment of Mark Uyeda as the Securities and Exchange Commission (SEC) acting chair much to the surprise of some stakeholders. In early December last year, the then President-elect Donald Trump reportedly picked pro-crypto Paul Atkins as the new chair for the SEC to replace Gary Gensler,