Ripple CEO: "Before the SEC got involved in crypto, $XRP was the 2nd most valuable digital asset."

Ripple CEO Brad Garlinghouse has revisited the early days of XRP, highlighting its prominence in the cryptocurrency market.

Ripple CEO Brad Garlinghouse has spoken out about XRP's early days and its remarkable standing in the cryptocurrency market. In a recent video posted on Twitter by Altcoin Daily, Garlinghouse highlighted how XRP was once the second-largest cryptocurrency, even ranking higher than Ethereum (ETH), before the U.S. Securities and Exchange Commission (SEC) began its regulatory actions.

"Before the SEC got involved in crypto, $XRP was the 2nd most valuable digital asset."

— Altcoin Daily (@AltcoinDailyio) November 17, 2024

The SEC's lawsuit against Ripple in 2020, alleging that the coin XRP is a security, still manages to deal significant blows to its price and marketing engagement. As Garlinghouse reflects on this situation, he can't help but notice the disarray brought about by the SEC in the growth of XRP, adding that Ripple has spent over $150 million defending the lawsuit but remains optimistic about resolving the case favorably.

XRP's Legal Struggles and Market Resilience

Despite the ongoing legal battle with the SEC, XRP has shown signs of recovery. Garlinghouse remained optimistic, highlighting a shift in market momentum as the cryptocurrency turns bullish again. A pseudonymous trader on X, “Lucky Chart Ape,” has predicted that XRP could hit a target of $9 by March 202usser25, based on the recent breakout of its trendline resistance.

While this prediction may raise eyebrows, Garlinghouse remains confident in XRP's future, especially if the regulatory environment becomes more favorable. In these challenges, the recent price surge has brought renewed excitement among its supporters. XRP has risen by over 100% in the last week, reaching $1.09 and overtaking Dogecoin (DOGE) to become the sixth-largest cryptocurrency by market cap.

This increase is also due to the bullish momentum for Bitcoin's price, which coincided with other positive factors. With two weeks to go before Donald Trump's inauguration, some observers are expecting swift changes to the US government's policy that will benefit XRP, especially if Trump makes good on his campaign promise to oust SEC Chairman Gary Gensler.

XRP Surges Amid Market Optimism

XRP has gained 102% over the last week, bringing its market price to $1.09. The currency now sits above DOGE as the sixth-largest cryptocurrency. Rapid growth has seen many of Ripple’s followers compare it to the situation in 2018 when XRP was positioned second to Bitcoin in the market.

Like many other digital currencies, XRP has benefited from the rising tide in the crypto market, buoyed chiefly by Bitcoin's previous record of $93k. The uncertain US market with a potential Trump presidency has raised optimism for a more positive cryptocurrency regulatory climate, and many changes are expected in the SEC's stance.

Brad Garlinghouse, the CEO of Ripple, maintains his optimism. In his view, the token can help transform international transactions, such as how sending emails has transformed communication. He is also optimistic that the current lawsuit between XRP and regulatory bodies will help bring much-needed definition and fairness to the crypto landscape.

XRP holders have remained committed to all the challenges. Recent optimistic predictions about the currency's momentum and the blustering pro-crypto President Trump suggest a significant resurgence, which would ensure XRP a strong foothold in the market.