- XRP was once the second largest cryptocurrency, but it has experienced significant market issues due to Ripple’s SEC lawsuit.
- It has increased by over 100% and now stands at $1.09 as the sixth largest cryptocurrency. Future regulatory changes are predicted to be positive.
Brad Garlinghouse of Ripple, CEO has revisited XRP’s early years and highlighted its prominence on the cryptocurrency market. Altcoin Daily recently shared a video on TwitterGarlinghouse pointed out that XRP used to be the second largest cryptocurrency in the world, surpassing Ethereum (ETH), even before the Securities and Exchange Commission of the United States (SEC) started its regulatory measures.
Ripple CEO: Before the SEC was involved with crypto $XRP The 2nd most valued digital asset. pic.twitter.com/ysCxY0YxJd
— Altcoin Daily (@AltcoinDailyio) November 17, 2024
In 2020, the SEC filed a lawsuit against Ripple. The coin XRP was portrayed as a financial instrument that caused significant harm to both its marketing and price. Garlinghouse, in meditating about this situation, commented on the chaos caused by the SEC to the growth of XRP. Ripple, he said, has invested over $150,000,000 in defending this lawsuit. He remains hopeful that it will resolve the case.
XRP Market Resilience and Legal Struggles
Despite an ongoing court battle with SEC, XRP shows signs of recovery. Garlinghouse was optimistic and highlighted a change in the market’s momentum, as cryptocurrency bullishness returns. A pseudonymous X-trader. “Lucky Chart Ape,” You can learn more about this by clicking here. predicted Based on its recent break through of the trendline resistance, XRP may reach a goal of $9 in March 2025.
Garlinghouse, despite this audacious prediction, is still confident about XRP’s bright future, particularly if the regulatory climate becomes more favorable. The recent surge in price has rekindled excitement among supporters. The price of XRP rose by 100% over the past seven days, to $1.09. It has now surpassed Dogecoin and is the sixth largest cryptocurrency.
The bullish momentum is responsible for this increase. Bitcoin’s priceThe positive aspects of the XRP price were also a factor. Some observers believe that the US Government’s policies will change quickly two weeks before Donald Trump is inaugurated, which could benefit XRP. This would be especially true if Trump follows through on his promise during the campaign to remove SEC chairman Gary Gensler.
XRP Soars Amidst Market Optimism
XRP has gained Its market price has risen by $102 in the past week. It is now the 6th largest cryptocurrency, above DOGE. Many of Ripple’s supporters have compared the rapid growth to that in 2018, when XRP ranked second behind Bitcoin on the market.
XRP is one of many digital currencies that have benefited from the rising crypto-market, fueled primarily by Bitcoin’s $93k record. With a possible Trump presidency, the US market is uncertain. This has led to optimism about a positive regulatory environment for cryptocurrency.
Brad Garlinghouse is the CEO and President of RippleHis optimism is not diminished. According to him, the token could help change international transactions in a similar way that emailing has changed communication. He believes that the lawsuit currently underway between XRP, regulatory agencies and the XRP token will bring definition and equity to the cryptocurrency landscape.
Holders of XRP have been committed to all challenges. Recent predictions of the currency’s strength and the blustering crypto-friendly President Trump indicate a significant resurgence.
You may also like:
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: www.crypto-news-flash.com
