Ripple CEO Brad Garlinghouse Elucidates on XRP's Impeccable Performance

Speaking with FOX Business journalist Liz Claman, Garlinghouse pointed out that since Election Day, XRP, Solana (SOL), and Cardano (ADA) have shown the strongest growth in the crypto space

Ripple CEO Brad Garlinghouse highlighted the strong performance of U.S.-linked cryptocurrencies in a recent interview.

Highlighting XRP’s Performance

Speaking with FOX Business journalist Liz Claman, Garlinghouse noted that since Election Day, XRP, Solana (SOL), and Cardano (ADA) have shown the strongest growth in the crypto space, aside from Bitcoin (BTC).

“That shouldn’t be a surprise given the pressure now expected to be lifted from U.S. crypto companies,” he remarked.

This statement comes as XRP price recently hit a 2-year high. Legal developments have played a central role in this performance.

Ripple Labs, Garlinghouse, and XRP II LLC recently received a favorable court ruling. A joint motion was approved for a final judgment and a stay on certain claims. This marks a significant step in the company's battle with the U.S. Securities and Exchange Commission (SEC).

The SEC, led by Chair Gary Gensler, faces growing backlash for its crypto regulatory stance. A lawsuit by 18 U.S. states accuses the SEC of overreaching its authority. These events have fueled market optimism, with participants anticipating greater regulatory clarity.

Garlinghouse also commented on broader industry progress, mentioning Bitwise’s ETF filing that includes XRP.

“XRP, BTC, ETH, SOL – that's the alphabet soup I like to see,” he said.

XRP Price Analysis Today

Today, XRP price has surged to $0.9193, reaching its highest level in two years. Analysts attribute this to a breakout from a symmetrical triangle pattern, which historically signals significant price movements. XRP is trading at $0.9193 at the time of writing.

If we take a closer look at XRP's price chart, we can see that the asset is breaking out from a symmetrical triangle pattern on the daily timeframe. This technical formation is usually followed by a strong directional move, and traders often anticipate a price movement of at least the same height as the triangle's base.

In XRP's case, that would indicate a breakout target of around $0.90, which would place the asset at a price of $1.80. However, some analysts are suggesting that XRP could reach as high as $4.80 by late 2024 if the bullish trend continues.

This aligns with the asset's price action in 2017, where XRP price soared to nearly $4 after breaking out from a symmetrical triangle pattern. Notably, if we extrapolate the same price movement from the current breakout, it would put XRP at a price of around $1.96 by month-end and $4.80 by late 2024.