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- Ripple (XRP) CEO Brad Garlinghouse subtly likes a post that alleges that he met with the US president-elect Donald Trump, to discuss the crypto industry.
- Garlinghouse recently accused the US Securities and Exchange Commission (SEC) of selecting “winners” and “losers” through their enforcement actions.
Ripple’s XRP has finally broken out of a falling wedge to hit a critical resistance level at $0.66 after embarking on a 24.4% surge in its weekly price chart. According to our market data, the 24-hour trading volume has also recorded an impressive surge of 51% at press time, with $10 billion changing hands. Meanwhile, analysts believe that this run could continue.
The sudden uptick occurs amidst reports that Ripple CEO Brad Garlinghouse has had a meeting with US president-elect Donald Trump. According to market analyst Zach Rector, the discussion was about the crypto industry. Later, Rector shared a screenshot of Garlinghouse liking his earlier post on the meeting, confirming this disclosure.
Confirmed ✅ #XRP pic.twitter.com/krpLrgrR2c— Zach Rector (@ZachRector7) November 12, 2024
While details of the meeting have not yet been disclosed, investors expect this to bring a new wave of evolution for the company and stakeholders alike as they face the US Securities and Exchange Commission (SEC) in court.
In our recent update on the case, the SEC filed its Civil Appeal Pre-Argument Statement (Form C) with the Second Circuit Court of Appeals. Later, Ripple struck back with a cross-appeal. Fortunately for the Ripple and XRP community, Trump has pledged to support the crypto industry and bring the constant enforcement actions against the industry to an end.
Ripple CEO Takes a Dig at SEC
Echoing this position, Garlinghouse recently called on the crypto fraternity to support Trump’s administration. He also stressed the resistance and regulatory challenges faced since XRP became the second most valuable crypto in the industry.
I’ve shared some thoughts on what the Trump administration could mean for crypto and wanted to also recognize the XRP family’s patience and unwavering support. A lot has happened since XRP was the 2nd most valuable digital asset. It’s been – at times – a frustrating journey.
In the post, Garlinghouse alleged that it has been six years since the SEC started meddling in the affairs of the crypto market. According to him, it has also been four years since Gary Gensler’s led Agency sued Ripple. With that, Garlinghouse accused the Commission of picking “winners” and “losers”. With Trump’s victory, he believes that the industry “has finally seen the light at the end of the tunnel.”
Now, finally, we see a light at the end of the tunnel as these external (frankly unnatural and manipulative) market factors fade. The tides are shifting, headwinds are turning to tailwinds, and the opportunity for those of us who believe in the future for XRP is enormous!
Meanwhile, market analyst EGRAG CRYPTO believes that XRP could hit $2.2 if Bitcoin hits $100k. According to him, the recent drop in XRP’s price by 42% against the BTC is an act of preparing the grounds for what he termed as the “massive rotation.”
Predicting the Bitcoin price, EGRAG CRYPTO estimated that the asset could hit between $150K and $180K in the coming days.
