We have had three months of SEC's silence, they were undermanned, without anyone in charge, having no direction, just a gap between two administrations. Gensler already expressed his views clearly (ridiculous how XRP army translated his threat into something encouraging, XRP army guys must be really desperate to make money, totally delusional, and jobless of course, that's why they don't believe in "market cap" because they know they are all jobless investing few Ks and would never beat the numbers). So Gensler was picked precisely to do the job that SEC has to do now - deal with meme stocks and ICOs. Sure he likes blockchain and as a government official, he will surely help to make way for CBDCs. It will take a week or less after he gets to work to address the lawsuit against Ripple. Remember when he was part of Goldman Sachs and later as a government official went after them? He was chosen precisely for this nature of his, he learns from the inside first, then he offers that knowledge without any shame to the government. He is a guy you can't bribe (not if you are a business entity). I have today seen a chart of one enthusiast predicting 30USD per XRP in coming weeks - but everyone sees what they want to see - because his chart clearly showed that the current top was touching the upper line of an important channel. And it happened at a time where the positive sentiment for XRP was at its best. The channel support is somewhere around 0.3 so it should not go below that until the lawsuit is over. But once Gensler steps in (soon), he will show you who is in charge. Biden might be a funny guy but Gensler works for the big boys and has a terminator mindset. So if anyone believes the sentiment will grow more positive in the coming days and weeks, you better believe what Garlinghouse said a few days ago, that they can do without XRP (and they honestly did not believe XRP will support their business that long, it was just thanks to Trump who stole ALL the attention for 5 years that ICOs could go wild). Gensler! Remember the word, you will learn to hate him.
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Also, check the dates of Gensler's nomination and later his first address to the public - both dates started two consolidations for XRP finalized with two massive price surges. XRP investors clearly put a lot of hope into him, completely misunderstanding what his job is now and where his determination is. Once he gets to work, the price might get where it was before his nomination.
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Here is a quote of Gensler's about XRP from 2018 “a non-compliant security,” and said that it would require the courts to make that determination, “whether it’s appellate courts or the Supreme Court.” Google it, verify it. And hope put into this guy caused the consolidations and surges, how irrational, right? When the facts became completely irrelevant in the western world?
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Since XRP is something you just can't trade with a stop loss, you either have to constantly monitor it or put a tiny amount that you can hold with faith. I say it for all the newcomers who are jumped in and start to look around. There have been waves and waves of newcomers like you in XRP, hearing the same good news endlessly repeated over the months and years.