The End Is Near: Ripple CEO Foresees The End Of Ripple Vs. SEC Lawsuit

Brad Garlinghouse, the CEO of Ripple, recently questioned why XRP was specifically targeted in the ongoing SEC litigation. Interestingly, he suggested that the case might end on September 21st, the end of summer. Despite not knowing the exact date, Garlinghouse remains optimistic about a swift resolution. 

Garlinghouse emphasized that while the precise timeline remains uncertain, he expects the judge’s decision might come before the end of summer. He highlighted XRP’s unique position in the US due to its clear regulatory status. 

Regarding ETH’s uncertain future, Garlinghouse stated that the XRP is one of the few things that is definitively not a security. Despite Ripple nearing the end of its legal battle, he criticized the SEC environment as being behind. 

Expressing frustration with the regulatory hurdles the industry faces, Garlinghouse accused SEC Chair Gary Gensler of being “pretty hostile” towards cryptocurrency. Despite these challenges, Ripple continues to advocate more favorable conditions and clearer regulations for cryptocurrencies in the US. 

Meanwhile, amid the recent market volatility, XRP declined below the $0.49 support level, trading around $0.48. This price decline aligns with the massive whale activity, involving 65 million XRP tokens being transferred to and from centralized exchanges in the past 24 hours. 

These whale movements have led to mixed sentiments among investors, creating massive buying and selling pressure on XRP. 

Despite the recent downturn, a known crypto analyst EGRAG remains bullish on XRP. EGRAG predicts that XRP will soon break out and reach $1, eventually rallying to the $6.5-$7.5 range over the longer term. He considers this range crucial, suggesting that long-term holders are likely to profit from it. 

In addition, EGRAG encouraged the XRP community to remain alert as he believes that XRP could rise to mid-double digits ($25-$45), provided other cryptocurrencies surge first. 

ABOUT THE AUTHOR See More

Sophia Cruz

Financial Writer - Asian & European Desks

Sophia is an experienced writer, reporter and newsdesk member, mostly on the financial sectors. For the past 5 years Sophia has covered a wide variety of topics such as the financial markets, economics, technology, fin-tech and trading. Sophia has been a part of the FX Leaders team since 2017 and works on producing valuable content and information for traders of all levels of experience.

Related Articles

XRP Price Prediction: $2.20 Holds After Ripple’s $1.25B Move

13 hours ago

Save

Federal Reserve Softens Crypto Restrictions For U.S. Banking System

17 hours ago

Save

BlackRock not Buying into Ripple's XRP

19 hours ago

Save

Comments

0 0 votes

Article Rating

Subscribe

Login

Notify of

new follow-up commentsnew replies to my comments

Please login to comment

0 Comments

Oldest

Newest Most Voted

Inline Feedbacks

View all comments