Ripple CEO Brad Garlinghouse Hints At Main Reason Behind XRP Rally
Summary
- Ripple’s CEO credits the resignation of SEC Chair and regulatory easing for fueling industry-wide growth.
- XRP hits a 6-year high at $2.71, with its market cap surpassing $150 billion after a legal win.
- WisdomTree files for an XRP ETF as institutional demand for Ripple’s crypto surges.
Ripple CEO Brad Garlinghouse has suggested that shifting regulatory dynamics in the United States are driving XRP’s dramatic price rally. After SEC Chair Gary Gensler resigned and Ripple won a significant legal victory against the SEC earlier this year, XRP has surged dramatically.
Brad Garlinghouse, Ripple’s Chief Legal Officer (CLO) Stuart Alderoty, and lawyer Bill Morgan have emphasized that these developments have paved the way for unprecedented growth in the crypto industry.
Ripple CEO Reveals Key Factor Driving XRP Rally
Ripple CEO Brad Garlinghouse identified the resignation of SEC Chair Gary Gensler as a critical turning point for the cryptocurrency market, including Ripple. Gensler, who led the SEC with a tough stance on crypto regulation, announced his decision to step down in January 2025.
Garlinghouse emphasized that Gensler’s departure could shift the regulatory landscape in favor of more favorable conditions for the crypto industry. Gensler’s tenure was characterized by numerous regulatory challenges for crypto companies, creating uncertainty in the market.
The Ripple CEO believes that this change in leadership will help remove some of the obstacles the crypto industry has faced under Gensler’s approach, potentially paving the way for greater growth and innovation in the space.
This decision aligns with the election of pro-crypto U.S. President-elect Donald Trump, who has pledged to create a more favorable regulatory environment.
Garlinghouse tweeted, “After Gensler, all boats rise,” highlighting the industry-wide optimism generated by this leadership change. Ripple CLO Stuart Alderoty echoed this sentiment, stating, “The only ‘efforts of others’ that truly moved crypto markets—by causing massive and prolonged artificial suppression—were those of the SEC.” Many in the industry view Gensler’s departure as the end of an era of legal hostility toward cryptocurrency projects.
XRP’s Bullish Momentum Soars to Multi-Year Highs
XRP has hit a six-year price high, rising to $2.71 with a market cap surpassing $150 billion. Ripple’s legal victory against the SEC earlier this year marked a pivotal moment for the asset, solidifying its position as a leader in the crypto market.
Ripple CEO Brad Garlinghouse credited much of XRP’s rally to renewed investor confidence following the legal victory and broader market optimism.
Ripple lawyer Bill Morgan pointed out the SEC’s error in handling the Ripple case, saying, “The SEC made a huge mistake not seeking a penalty in XRP rather than USD.” This legal outcome has energized Ripple and its supporters, with the XRP community celebrating what they view as the end of a prolonged period of regulatory suppression.
Institutional Demand Fuels Market Growth
The increasing demand for XRP among institutional investors has significantly contributed to its price surge. Coinbase, one of the largest cryptocurrency exchanges in the U.S., reported a price premium for XRP over the past 30 days, signaling strong buying interest from U.S.-based investors.
Ki Young Ju, CEO of CryptoQuant, stated that this premium has ranged from 3% to 13%, highlighting strong demand for the digital asset.
At the same time, Ripple’s market momentum has prompted traditional financial firms to explore XRP-related products. Investment management firm WisdomTree recently filed for an XRP Exchange-Traded Fund (ETF) with the SEC, joining other companies like Bitwise and 21Shares.
