Brad Garlinghouse shared his opinion on the recent victory of pro-Bitcoin former U.S. president Donald Trump in the presidential election, stating that he believes Trump will put an end to the SEC’s enforcement actions against the crypto space.
Brad Garlinghouse is the CEO of Ripple, a San Francisco-based blockchain firm known for its cross-border payment solutions for both small and large companies. Ripple Labs is responsible for developing the $XRP cryptocurrency, which operates on the XRP Ledger (XRPL) Proof-of-Stake (PoS) consensus. In December 2020, the United States Securities and Exchange Commission (SEC) filed a lawsuit against Ripple, Ripple executives, and the XRP coin. The SEC accused Ripple executives of violating the Securities Act and labelled XRP as an unregistered security token. The case remains active to date.
On November 8, 2024, Ripple CEO Garlinghouse shared his personal thoughts on the potential new era for the crypto sector under the Trump administration, which will begin after January 20, 2025. Garlinghouse highlighted that the XRP cryptocurrency has endured several downturns, dating back to when it held the second rank in the crypto space.
The Ripple CEO noted that the SEC has been targeting the crypto space for six years, with Ripple being its primary target in the past four years due to its success in the innovative blockchain sector. He asserted that the SEC’s actions against Ripple were due to its achievements in this space.
Furthermore, Garlinghouse expressed optimism about the current situation in the Ripple vs. SEC lawsuit. He mentioned that there is no longer a need to worry about the SEC’s enforcement actions against crypto companies, including Ripple, as tides are shifting, headwinds are turning into tailwinds, and the opportunity for those who believe in the future of XRP is immense.
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XRP Cryptocurrency Price Action
The current trading price of the XRP coin, the native token of the XRP Ledger, is $0.55. This price level represents a 10% increase over the last 7 days.