David Edwards
Ripple CEO Brad Garlinghouse has once again drawn attention to the exceptional performance of U.S.-linked cryptocurrencies, particularly Ripple’s native token, XRP. As XRP surged to a two-year high, Garlinghouse’s remarks underscored the resilience of Ripple and other altcoins amidst shifting regulatory landscapes.
XRP’s Resurgence Amid Market Optimism
During an interview with FOX Business journalist Liz Claman, Garlinghouse highlighted the notable growth of XRP, Solana (SOL), and Cardano (ADA), which he attributed to easing regulatory pressures on U.S.-based crypto firms. He stated, “That shouldn’t be a surprise given the pressure now expected to be lifted from U.S. crypto companies,” reflecting a sentiment that resonates strongly with market participants.
This momentum follows favorable legal developments for Ripple Labs. A recent court ruling granted the company, alongside Garlinghouse and XRP II LLC, a joint motion for a final judgment and a stay on specific claims. These developments mark a critical victory in Ripple’s protracted legal battle with the U.S. Securities and Exchange Commission (SEC).
Regulatory Shifts and Market Implications
The SEC, under Chair Gary Gensler, continues to face scrutiny for its regulatory approach, with 18 U.S. states filing lawsuits accusing the agency of exceeding its authority. These legal challenges, coupled with Ripple’s legal wins, have bolstered market optimism, fostering expectations of clearer regulatory guidelines.
Adding to the enthusiasm, Garlinghouse commented on the inclusion of XRP in Bitwise’s ETF filing alongside Bitcoin (BTC), Ethereum (ETH), and Solana. “XRP, BTC, ETH, SOL — that’s the alphabet soup I like to see,” he quipped, signaling confidence in the broader crypto market’s trajectory.
