- The firm’s regulatory combat with the SEC may extend into 2025, causing persistence uncertainty for XRP.
- XRP’s price has stayed below $1 as investors react to its legal issues.
- Garlinghouse predicts other nations are leading in crypto laws while the U.S. lags behind.
Brad Garlinghouse expects a major change in the U.S. approach to crypto mandates after the 2024 presidential selection. He believes that regardless of the outcome, the next administration will bring more positive policies for the crypto sector. His remarks come as Ripple continues to face a binding fight with the U.S. Securities and Exchange Commission over whether the token should be considered an unofficial security.
Ripple’s Long-Term Administrative Dispute
The disagreement with the exchange commission began in 2020 when it accused the company of raising $1.3 billion through unregistered sales of XRP. Chair Gary Gensler has taken a strict stance against the crypto industry. Brad has strongly criticized the regulatory board’s tactics, which he says are slowing down innovation in the crypto space. He also hinted that Gensler’s actions may harm Harris’s chances of winning as crypto management becomes an important issue for voters.
XRP Price and Market Reactions
XRP has encountered continuous financial uncertainty as a result of Ripple’s regulatory issues. The token has struggled to rise above $1 for a long period, raising concerns among shareholders. Ripple has taken several constitutional steps to defend its position, but the case may now extend into 2025. This has left investors and traders uneasy as the value of XRP continues to fluctuate.
While some believe the organization’s posture seems chaotic, others see it as a deliberate effort to challenge the SEC’s aggressive actions. Whatever the case, the results of this lawsuit could have lasting effects on the future of electronic currency policies in the U.S.
Global Approach to Crypto Regulation
The CEO also pointed out that other countries are advancing faster in setting clear crypto regulations. Nations like the United Kingdom, Switzerland, Singapore, and Japan have already provided strong frameworks that have helped their crypto money grow.
. He said that an exchange-traded fund tied to XRP is likely to happen. Two asset managers, Bitwise and Canary Capital, have already filed for spot XRP ETFs. This shows there is still a lot of interest in XRP, despite the regulatory hurdles Ripple faces.
