John E. Deaton Calls for SEC and CFTC Merger as XRP Price Explodes to Six-Year High

Donald Trump’s win and Gensler’s resignation news exploded the XRP price. In this process, Ripple’s native token reached a six-year high.

The victory of Donald Trump in the US presidential elections and the news of Gensler's resignation had a positive impact on the XRP price. During this process, Ripple's native token managed to reach a six-year high. Now, the merger of the SEC and CFTC is on the agenda. John E. Deaton and others are pushing for the merger to ease crypto regulations. According to analysts, if the merger takes place, XRP and XLM Coin prices will reach these levels.

John E. Deaton called for SEC and CFTC merger

As you know, the talks about the SEC and CFTC merger have been going on for years. However, about three months ago, US congressman John Rose introduced a bill for this merger. Now, three months later, John E. Deaton, a well-known crypto advocate, has made a request for the same. He explained the need for better regulation by these organizations, without any confusion and interference with each other. This merger could lead to better guidelines and put the US at par with several countries that have only one financial regulator. Eventually, the ‘Crypto Grey Zone' that creates complexities between the SEC and CFTC would be eliminated.

Interestingly, this idea has been supported by several industry leaders, including Elon Musk and Vivek Ramaswamy, as you follow from Kriptokoin.com. Even Donald Trump plans to give the oversight of the crypto market to the CFTC. The CFTC already oversees the US derivatives market and commodities like gold and others.

How will the XRP and XLM Coin price react?

Like many crypto enthusiasts, John criticized Gary Gensler for sidelining the SEC, as analysts felt that their involvement was stifling the growth of cryptocurrency. The biggest impact was on the XRP price, which crashed and consolidated for three years. XLM Coin followed almost the same price trajectory, impacted by the SEC's ruthlessness on Ripple. More importantly, US crypto users suffered a lot as they were banned from several crypto sales and tokens.

After three years of struggles, the XRP price managed to recover from the consolidation. In doing so, XRP reached a six-year high of $2.84 earlier this month. Hence, the outlook for the Ripple token has improved. At the same time, the XLM Coin price also reached new highs. According to analysts, Gary Gensler's resignation and the launch of RLUSD will propel the XRP price to new heights of success.

Prediction: XRP price will reach $15 and XLM Coin price will reach $5!

Crypto analyst Pooja Khardia shares her predictions for XRP and XLM. Only with Donald Trump's victory, the Ripple token price has seen a revival. At the time of writing, XRP is trading at $2.43 with a market cap of $138.81 billion. This marks the highest point in six years. Moreover, several other factors are in favor of this token, such as Gary Gensler's resignation and now this SEC and CFTC merger, where the XRP price can reach as high as $15-20. It will be a significant milestone as the SEC is behind XRP's struggles.

At the same time, the XLM Coin price can reach $5 as it follows XRP's price trajectory despite having competitors. But only if the same co-founders maintain this rhythm. Currently, the XLM price is at $0.4296. If the Ripple token booms, it is possible that the impact of this could push XLM to $5

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