From voting to crypto rules to slamming Gary Gensler and giving threats to the US Supreme Court, Ripple CEO is making headlines every day. He was very specific when he said, “Not experiments and possibilities.” However, the crypto business will continue to be propelled by macro repercussions. The current XRP price is $0.65, an increase of 32% in the past month and 85% in the past year.
Ripple CEO has opened the doors for new possibilities in the crypto space. With XRP win, do you think the market will see a new era and line of crypto-friendly rules? Is the US govt changing the wind for the risk assets? Let’s delve in.
“The SEC, in my opinion, has lost sight of their mission to protect investors,” Ripple CEO tells in a CNBC interview in Dubai following its XRP token ruling.
Brad Garlinghouse lays out the next steps in their legal battle against the U.S. Securities and Exchange Commission (SEC).
Following three consecutive victories over the SEC, including a judgment that XRP is not a security and the dismissal of charges against Ripple executives, Garlinghouse criticizes the SEC’s repetitive approach as ‘insanity.’ He further argued that victory against the SEC is not enough in the USA.
He said, “A clear policy is needed to make US banks less wary of cryptocurrencies.”
Overall, he is bullish on the recent legal developments in the crypto industry, referencing Grayscale’s victory in the Bitcoin ETF case.
Looking ahead, Ripple plans to challenge the SEC’s claim of $770 million in disgorgement, emphasizing the need for regulatory clarity and the importance of solving real-world problems for widespread crypto industry growth. Garlinghouse predicts long-term success for the industry, considering factors like Bitcoin halving, ETF approvals, and historical patterns influencing price action. While crypto attorney John Deaton claims a $20M settlement in the SEC vs. Ripple case is a huge win for Ripple, not a 50/50 split but more like 90/10 in their favor.
XRP’s current price at $0.65 reflects a 32% increase in a month and an 85% surge in a year.
Amidst regulatory battles, Ripple remains optimistic about the future trajectory of the crypto market.
Garlinghouse repeated that the U.S. lags behind other developed markets. He wants the US to follow Japan, Singapore, Switzerland, the UK, and Australia in creating clear crypto innovation rulebooks that protect consumers.
XRP sees an 11.4% weekly gain amid stable Bitcoin and Ethereum prices. Positive developments for Ripple, including a critical CBDC partnership in Georgia and expanded remittances collaboration with Onafriq, likely contributed to bullish sentiment.
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