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- Ripple’s boss has disclosed that he would not support any bill that threatens the legal status of XRP after years of legal battle.
- Garlinghouse has noted that a “new Gary Gensler” could attempt to bring up another lawsuit.
XRP remains one of the few cryptos with regulatory clarity following a landmark July 2023 ruling by Judge Analisa Torres, as detailed in our earlier coverage.
In a recent interview with Crypto In America, Ripple boss Brad Garlinghouse has assured that he would not support any bill that threatens the legal status of XRP after spending $150 million fighting the US Securities and Exchange Commission (SEC).
Garlinghouse Speaks on Regulations and XRP Holding Transparency
Speaking on this, Garlinghouse highlighted that its legal clarity not only benefits the Ripple ecosystem but also the entire crypto industry. With the current US administration providing a better environment for crypto projects to thrive, Garlinghouse has not entirely ruled out the possibility of a new “Gary Gensler” bringing fresh lawsuits.
Speaking on its general operation, the Ripple boss hinted that the company has made its XRP holdings transparent enough by publicly disclosing the wallets it controls. According to him, this is a deliberate attempt to ensure that the public has full information on its on-chain movements.
To him, this is not common, as most projects refuse to disclose their holdings. According to him, a CEO earlier disclosed at a panel discussion that he has no plan to share basic transparency information.
Ripple Involved in Regulation Discussions
Over the past several months, Ripple has been involved in multiple high-profile discussions surrounding crypto regulations. In September, for instance, it joined the likes of Kraken, Coinbase, and a16z to discuss crypto regulation with the Senate Banking Committee, as discussed in our earlier news brief.
After this meeting, Cardano co-founder Charles Hoskinson disclosed that the discussion was fruitful with meaningful bipartisan progress witnessed around the Clarity Act. As mentioned in our previous news story, Hoskinson admitted that there is work to be done; however, “a coherent set of rules could be completed this year.”
Before this, the SEC also hosted a roundtable discussion on April 11, with the biggest crypto names, including Coinbase, Uniswap Labs, and Cumberland DRW, present, as noted in our earlier publication.
Key figures, including Ripple president Monica Long, have lauded the progress so far, acknowledging the effort around the Clarity Act, Genius Act, and the Responsible Financial Innovation Act (RFIA). The US crypto market bill is also reported to be making progress, according to President Donald Trump’s crypto adviser, David Sacks.
Amidst the backdrop of this, XRP investors are expecting all of these positive developments to reflect in its price as the asset currently struggles to return to $3.
At the time of writing, XRP had surged by 12% in the last 24 hours to trade at $2.5. The asset has also managed to “print” gains on its weekly and monthly price charts, with 5.3% and 3% surges, respectively.
As explained in our recent analysis, analyst EGRAG Crypto has predicted that XRP could hit $50 once it secures the $10 resistance level.
