XRP and Ripple, the blockchain payments company behind this altcoin, have been on a dramatic rise in recent days.
Since election night, XRP has surged by 70%, driven by speculation that Ripple CEO Brad Garlinghouse met with President-elect Donald Trump and rumors that SEC Chairman Gary Gensler could soon resign.
Speaking to Fox Business exclusively, Garlinghouse expressed optimism about the evolving regulatory landscape, noting that the crypto industry, which has faced significant regulatory hurdles in recent years, could see a turning point with a president more conducive to crypto innovation.
“The United States has waged a war on crypto for years,” Garlinghouse said. “Now we finally have a crypto president. The industry has embraced Trump, and he has embraced us. This is a pivotal moment for innovation and entrepreneurship.”
Ripple’s legal battle with the SEC has become a focal point for the wider industry. Garlinghouse noted that Ripple has spent more than $150 million fighting what he called an “illegal war” waged by the SEC. This week, 18 state attorneys general filed a lawsuit against the SEC, claiming crypto regulation is overreaching, a move that Garlinghouse belatedly welcomed:
“To these attorneys general, I say: Welcome to the party. Ripple has been fighting this fight since the beginning.”
Garlinghouse also touched off market speculation following his interaction with a tweet suggesting a meeting with Trump. While refusing to confirm the details, he reiterated Ripple’s commitment to promoting pro-crypto policies and innovation-friendly regulations.
Adding to the momentum, Robinhood recently relisted XRP, signaling increased confidence in the US regulatory environment.
As Ripple continues its work on blockchain and cryptocurrency innovation, Garlinghouse remains optimistic about the road ahead: “The United States is unleashing its potential. I am excited about what the future holds for Ripple and the entire crypto industry.”
*This is not investment advice.