- XRP’s price spiked by 14% recently, showing renewed shareholder confidence.
- Ripple’s conflict with the regulatory board has cost the company over $150 million.
- Garlinghouse believes clearer laws will help XRP’s future growth.
Brad addressed XRP’s recent price surge and discussed the firm’s court struggle with the U.S. Securities and Exchange Commission. In a video shared by Altcoin Daily, he reflected on the token’s rise, noting it had once surpassed Ethereum in market value before the SEC filed a lawsuit against Ripple in 2020. Despite these proceeding constitutional battles, he continues to remain hopeful about XRP’s destiny and its prospects.
Legal Struggles with the SEC
Ripple’s constitutional fight with the SEC started in 2020 when the agency alleged the company of offering XRP as an unregistered security. This lawsuit greatly influenced the price, causing a major decline in its value. The organisation has spent over $150 million defending itself against claims, yet the CEO is confident about them resolving the case in their favor. He stated that the legal challenges have been disruptive but have not stopped Ripple from continuing its operations.
Although the lawsuit created uncertainty for XRP holders, Ripple remains determined to continue defending itself. Garlinghouse believes that once the case is resolved, it will open doors for Ripple to thrive again.
Ripple’s Political Outreach and Future Prospects
The organisation has also engaged with legislative figures to influence the regulatory environment for XRP. Garlinghouse recently confirmed a meeting with President elect Donald Trump. While the details remain unclear, this meeting has sparked conversations about its approach to secure a favorable legislative situation in the U.S.
The firm’s chair has stated that Ripple’s outreach to political figures is part of a larger strategy to ensure the coin’s success. The business is working hard to navigate the challenges it faces and position itself for growth in the future.
Crypto News Land, also abbreviated as “CNL”, is an independent media entity – we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
