Ripple CEO Garlinghouse Shares Bold Views on SEC Lawsuit, XRP ETF, and Trump’s Re-Election Impact

Highlights

• Ripple CEO Garlinghouse talked about the potential impact of Donald Trump’s re-election on crypto regulations.

• He anticipates clearer crypto rules and a resolution to the SEC lawsuit.

• Garlinghouse expresses optimism about XRP’s future, with prices targeting new highs.

Ripple CEO Garlinghouse on Trump’s Potential Influence on Crypto

In a recent interview with BBC, Ripple’s CEO Brad Garlinghouse shared his insights on Donald Trump’s re-election and its possible effects on the crypto world. He expressed optimism that Trump’s second term could bring more clarity to U.S. crypto regulations, leading to the reshaping of the digital assets landscape, especially XRP. Garlinghouse is positive that Trump’s re-election would bring positive changes to the crypto industry, which has faced scrutiny and regulatory challenges under the current administration.

Garlinghouse showed his “100-day crypto checklist” for Trump via his X post. On the list, He calls for clear regulatory guidelines for crypto entities. He also recommended sacking SEC Chair Gary Gensler, arguing that doing so would signal Trump’s commitment to supporting the industry, thereby creating a friendlier environment for crypto growth.

.@realDonaldTrump, Congratulations!

Some fodder for your first 100-day checklist to get things moving:
– Fire Gensler. Day 1, no delays.
– In his place, appoint Giancarlo, Brooks, or Gallagher – they’d be massive upgrades in rebuilding the rule of law (and reputation) at the…

— Brad Garlinghouse (@bgarlinghouse) November 6, 2024

SEC Lawsuit: Ripple CEO Awaits Resolution

As the SEC lawsuit against Ripple continues, Garlinghouse expressed his desire for a favorable outcome. The case, which challenges XRP’s classification, has been a significant hurdle for Ripple. Despite a recent court ruling clarifying that XRP itself is not considered a security, signaling a partial victory for Ripple. The SEC has appealed parts of the ruling, delaying the case’s final resolution.

Garlinghouse criticized Gensler’s “war on crypto,” which he believes has suffocated innovation in the U.S. while other countries, such as Japan and Switzerland, foster crypto-friendly regulations. He stressed that without clear guidelines, the crypto industry in the U.S. remains vulnerable to endless litigation. Garlinghouse hopes that with Trump in office, regulators will take a more progressive approach toward crypto.

The Future of XRP: ETF Launch and Market Potential

In light of these challenges, Garlinghouse also touched on the possibility of launching an XRP ETF, which could mark a new era for XRP in the mainstream market. An ETF could provide XRP with greater visibility and legitimacy among institutional investors, potentially driving up its value. Currently trading at around $0.55, XRP has shown resilience despite legal hurdles and the fluctuating crypto market.

The crypto community remains optimistic, with experts suggesting XRP’s price could reach $2 if the market continues to recover. Garlinghouse’s outlook on crypto regulation, coupled with his plans for Ripple and XRP, indicates his commitment to navigating the evolving regulatory landscape and advancing the utility of XRP.

As the SEC case and Trump’s potential policies unfold, the crypto industry is watching closely. XRP holders and other investors hope for more supportive crypto regulations in the U.S. As Garlinghouse’s vision aligns with the industry’s call for clearer crypto rules, this could help XRP and other cryptocurrencies thrive.