The crypto market is buzzing. Since Donald Trump’s election victory, the total market cap has surpassed $3.2 trillion. Ripple’s native token, XRP, is among the top performing cryptos post the election.
The token has posted double-digit gains, fueling optimism for a pro-crypto regulatory shift under the new administration.
Ripple CEO Brad Garlinghouse has weighed in on the post-election crypto market performance during a recent interview with Fox Business News.
Ripple Labs’ XRP Rises Post-Election
Since Election Week, XRP became one of the benchmarks for other cryptocurrencies, rising by more than 100% to $1.08.
This brought Ripple’s market capitalization to $61.33 billion, total trading volume increasing by more than 149% to $4.87 billion.
Garlinghouse has associated it with positive expectations with Donald Trump’s approach to regulatory changes and firing Gary Gensler, SEC Chairman.
– Advertisement –
Speculations have been rife that Garlinghouse has already paid a courtesy call on Trump or members of his incoming administration to discourse on possible crypto policies.
Although he didn’t clearly speak to the speculation, the remarks thrown by the CEO have added more speculation to the rumors. Garlinghouse noted,
“We’ve been very active this election cycle, advocating for a fair regulatory approach…The hostility toward crypto in the U.S. has been a major roadblock.”
Even though Garlinghouse had to remain tight-lipped about the matter, his positive outlook relates to how a pro-crypto administration can trigger massive development.
$800 Billion Added to the Market
The pro-crypto sentiment has not only a positive influence on Ripple, though. The broader market has had more than $800 billion post-election, an apparent sign that investors are regaining their confidence.
Garlinghouse highlighted Years of regulatory pressure through the SEC as one of the factors that prevented the industry from growing. He suggested that ‘the war on crypto may finally be over.’
Texas, Wyoming and Ohio, among other states have sued Gensler on the grounds of over regulation towards stifling innovation.
Trump vows to replace Gensler that has sparked more optimism in the crypto industry, which views this as a new era for digital asset regulations in the United States.
A New Era for U.S. Crypto
Garlinghouse is bullish on the future. He predicts a wave of innovation as regulatory clarity emerges. “This is an opportunity for the U.S. to lead in blockchain technology,” he said.
He also pointed to other signs of change. Platforms like Robinhood are listing more U.S.-based tokens, including XRP and Cardano. Solana, another U.S.-rooted project, is also gaining traction.
The CEO sees Trump’s pro-business stance as a catalyst. “The crypto industry and Trump have embraced each other,” Garlinghouse remarked. “This is just the beginning.”
The crypto world is watching closely. Trump’s inauguration could mark the start of a new chapter for U.S. digital assets. With regulatory clarity, innovation and investment could skyrocket.
Garlinghouse remains optimistic. He believes the groundwork is being laid for the U.S. to become a global crypto leader. The market is ready, and the stakes couldn’t be higher.
As the dust settles, one thing is clear: the crypto industry is gearing up for a pro-Trump era. Will it deliver the growth investors are hoping for? Only time will tell.
