With Donald Trump’s win, the hopes around crypto regulations and supportive practices have increased. The re-elected President is already on the move, and picking his association seems crypto-friendly, which is nothing less than an achievement for the crypto investors. Here, the biggest achievement in the crypto industry is the SEC Chair Gary Gensler’s resignation, which is already in progress. Interestingly, the demand for the SEC & CFTC merge has reappeared in hopes of bringing the best to the industry. This could eventually affect the XRP and XLM price due to the former’s ill relationship with the Security and Exchange Commission.

John E. Deaton Urges For SEC & CFTC Merge

The SEC & CFTC merger talks have been going on for years, but around three months ago, John Rose, the US congressman, introduced a bill for this merger. And now, after three months, a famous crypto spokesperson, John E. Deaton, has asked for the same, explaining the need for improved regulation, free from confusion and interference of these entities with each other.

Outstanding job by @PerianneDC on @MorningsMaria with @MariaBartiromo discussing how @elonmusk and @VivekGRamaswamy’s @DOGE may want to push for merging the @CFTC & @SECGov.

There’s a strong case to be made for merging the two agencies. Merging the SEC & CFTC would eliminate… https://t.co/dLdSSVXyxs

— John E Deaton (@JohnEDeaton1) December 13, 2024

It could bring better guidelines and position the US on the same level as many nations with only one financial regulator. Eventually, he called it the ‘Gray Zone of Crypto,’ which creates complexities between the SEC and CFTC.

Interestingly, many industry leaders, including Elon Musk and Vivek Ramaswamy, have supported this idea. Even Donald Trump is planning to leave the crypto market’s oversight to the CFTC, which already overlooks the US derivatives market and commodities like gold and others.

How Will XRP and XLM Price React?

Like many crypto enthusiasts, John has been critical of Gary Gensler, let alone SEC, as analysts believe their involvement has hindered the cryptocurrency’s growth. The earlier CoinGape report on the Ripple SEC Case revealed that the CFTC has filed 120 legal lawsuits against the crypto service providers, including Ripple, Binance, Kraken, and more.

The biggest impact was on the XRP price, which crashed and consolidated for three years. XLM followed almost the same price trajectory, influenced by the SEC’s brutalities on Ripple. More importantly, the US crypto users have suffered a lot, as they were prohibited from many crypto sales and tokens.

After three years of battles, hope rose for the Ripple token as the price recovered from consolidation and hit a six-year high at $2.84 at the beginning of the month. At the same time, the XLM price hit new highs. Further analysts believe that Gary Gensler’s resignation and RLUSD stablecoin launch might push the XRP price to new heights of success.

XRP Price to Hit $15 & XLM Price to $5

With Donald Trump’s victory alone, the Ripple token price rejuvenated, reaching this six-year high milestone, currently trading at $2.43, with a market capitalization of $138.81B. Additionally, many other factors are in this token’s favor where the XRP price could fuel up to $15-20, like with Gary Gensler’s resignation, and now this SEC & CFTC merge. It will be a major milestone, as SEC is behind XRP’s struggles.

At the same time, the XLM price could hit $5 as it follows the XRP’s price trajectory, despite being its competitors, but the same co-founders maintain this rhythm. Currently, the XLM price is at $0.4296, with the ATH sitting 53% higher for the last seven years. If the Ripple token boomed, the impact could boost the Stellar token to $5.

What’s In There For You With SEC & CFTC Merge?

The SEC & CFTC merge is just a suggestion for now and has many technical constraints to make that possible, including budgeting, workforce, and much more. However, despite that, if this happened, the XRP and XLM prices could witness a rally. Additionally, this could become a major step toward crypto regulations. Moreover, the guidelines would smoothen up service providers’ functioning without major legal trouble, costing money and energy.

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Pooja Khardia

With a deep-seated passion for reading and five years of experience in content writing, Pooja is now focused on crafting trending content about cryptocurrency market.

As a dedicated crypto journalist, Pooja is constantly seeking out trending topics and informative statistics to create compelling pieces for crypto enthusiasts. Staying abreast of the latest trends and advancements in the field is an integral part of her daily routine, fueling a commitment to delivering timely and insightful coverage

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.