The Republican Majority Catalyst
XRP shattered the $2 resistance level early Saturday, surging over 8% to trade at $2.03 following the official departure of SEC Commissioner Caroline Crenshaw. Her exit, confirmed by the agency late Friday, leaves the regulator with a temporary 3-0 Republican majority under Chair Paul Atkins, a configuration traders view as the definitive end of the agency’s “regulation by enforcement” era.
Flipping BNB
The rally propelled XRP’s market capitalization to roughly $123 billion, allowing it to overtake Binance Coin (BNB) as the fourth-largest cryptocurrency by market value. This marks the first time XRP has held the spot since its brief mid-December spike. The token is now the third-largest asset excluding stablecoins, trailing only Bitcoin and Ethereum.
Institutional Flows Accelerate
Spot market optimism is being compounded by institutional conviction. U.S. spot XRP ETFs have absorbed over $1.18 billion in cumulative inflows since their recent launch. Data from SoSoValue indicates consistent daily buy-pressure, with products from Franklin Templeton and Bitwise leading the charge. Unlike the volatile flows seen in Ethereum products, XRP funds have maintained a “buy-only” streak that suggests long-term institutional accumulation rather than retail speculation.
“With Crenshaw’s departure, the agency now has three commissioners, all Republicans. In practice… it puts the agency on a very narrow ledge.”
Regulatory Outlook
The 3-0 majority, comprising Atkins, Hester Peirce, and Mark Uyeda, is expected to fast-track clear market structure rules that were stalled under the previous administration. While the White House is expected to nominate a Democrat to fill the vacancy, the current interim composition provides a rare window for pro-crypto policy consensus.
